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Industrial Lubricants Market To Grow At A CAGR of 3.0% By 2024: Hexa Reports

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Industrial Lubricants Market To Grow At A CAGR of 3.0% By 2024: Hexa Reports

December 17
04:39 2016

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The “Global Industrial Lubricant Market” demand was 15.01 million tons in 2015 and is expected to reach 19.47 million tons by 2024.

The Global Industrial Lubricant Market is expected to reach USD 68.41 billion by 2024, according to a new report by Hexa Reports. The growth of key end-use industries such as chemical manufacturing, food processing and electronics particularly in Asia Pacific is expected to drive industry growth. Increase in industrial output in emerging economies such as China, India, Russia, Brazil, and South Africa, predominantly in core manufacturing sectors, such as metal forming, foundry, consumer appliances, and plastics, along with the mining industry is expected to foster demand.

Initiatives such as continuously evolving emission standards, improving engine technology, and norms about mitigated carbon footprints are being adopted in emerging economies such as China and India. The paradigm shift towards environmental conservation is touted to be the key growth driving factors.

Chemical manufacturing was the largest application for industrial lubricants due to the high demand for non-reactive, sustainable and compatible processing fluids to handle various intermediaries and petrochemicals in a safe & efficient manner.

Browse Detail Report With TOC @ http://hexareports.com/report/industrial-lubricants-market/details

Further key findings from the report suggest:

Demand in North America & Europe is expected to remain high despite relative stagnancy in manufacturing growth. A revitalized manufacturing sector post recovery from the economic depression of 2009, is a major driving factor for lubricants consumption in these regions

India emerged as the fastest growing market in Asia Pacific and is expected to grow at a CAGR of 4.3% from 2016 to 2024. India offers rewarding opportunities to industry participants with the government implementing innovative schemes to bolster domestic manufacturing activities

Request A Sample copy of This Report @ http://hexareports.com/sample/181833

Process oils primarily find use in the rubber, chemical and technical industries as a process aid or raw material. The segment accounted for over 32% of the global volume in 2015, growing at an estimated CAGR of 3.1% from 2016 to 2024

Key companies operating in the industry include Shell, Total S.A., ExxonMobil Corp., Chevron Corp., Valvoline International, Kluber Lubrication, Fuchs Group, The Lubrizol Corporation, Clariant, Castrol, and Petronas Lubricant International

Browse More Petrochemicals Related Market Research Reports:

• Isobutene Market Analysis And Segment Forecasts To 2024 – http://hexareports.com/report/isobutene-market/details

• Base Oil Market Analysis And Segment Forecasts To 2024 – http://hexareports.com/report/base-oil-market/details

About Us:
Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe.We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

Contact Information:
Ryan Shaw
Hexa Reports
Felton Office Plaza,
6265 Highway 9,
Felton, California, 95018,
United States
Phone Number
1-800-489-3075
Email Us: [email protected]
Our Website: http://www.hexareports.com

Media Contact
Company Name: Hexa Reports
Contact Person: Michelle Thoras and Ryan Shaw
Email: Send Email
Phone: +1-800-489-3075
Address:Felton Office Plaza, 6265 Highway 9
City: Felton
State: California
Country: United States
Website: http://hexareports.com/report/industrial-lubricants-market/details

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