Authored By: Sarah
22 Nov 2023

Industrial Lubricants Market anticipating expansion of USD 12.49 Bn in revenue through 2023-2027 | APAC to Dominate Market Landscape

According to projections, the industrial lubricants market will grow at a compound annual growth rate (CAGR) of 3.73%, followed by USD 12.49 billion revenue growth, between 2022 and 2027.Technavio has been monitoring the Industrial Lubricants Market's growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking.

APAC to Dominate Market Landscape

Over the course of the forecast period, APAC is expected to contribute 53% to the growth of the global market.The strong demand for and consumption of lubricants in sectors including heavy engineering, steel manufacturing, mining and refining, plastics and polymers, and mining is one of the primary drivers driving the growth of the industrial lubricants market in Asia-Pacific. Several major nations, including China, India, Japan, and South Korea, are making substantial contributions to the expansion of the industry in the area.

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Fastest Growing Topography of the Industrial Lubricants Market 

AMSOIL Inc., Bharat Petroleum Corp. Ltd., BP Plc, Castrol Ltd., Chevron Corp., ENEOS Holdings Inc, Exxon Mobil Corp., FUCHS PETROLUB SE, Idemitsu Kosan Co. Ltd., Indian Oil Corp. Ltd., PetroChina Co. Ltd., Petroleo Brasileiro SA, Phillips 66, PJSC LUKOIL, Quaker Chemical Corp., TotalEnergies SE, Valvoline Inc., Buhmwoo chemical Co. Ltd., Zeller some of the major market participants when it comes to the Industrial Lubricants Market 

Technavio's report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. Learn more about the market dynamics and the aspects that our report's in-depth analysis predicts will have the biggest impact on the market under review.

Industrial Lubricants Market  Highlights of the Report for 2023-2027

  • CAGR of the market during the forecast period 2023-2027
  • Detailed information on factors that will drive Industrial Lubricants Market growth during the next five years
  • Precise estimation of the Industrial Lubricants Market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industrial lubricants industry across APAC, Europe, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of Industrial Lubricants Market players
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