Industrial Lubricants Market Estimated to Reach $74.3 billion by 2029 Globally, at a CAGR of 3.1%, says MarketsandMarkets™

Chicago, July 16, 2024 (GLOBE NEWSWIRE) — The Global Industrial Lubricants Market is estimated to grow from USD 63.9 billion in 2024 to USD 74.3 billion by 2029, at a CAGR of 3.1%, as per the recent study by MarketsandMarkets. The demand for industrial lubricants in end-use industries such as construction and food processing are increasing due to government regulations and fuel economy norms, increasing automation in end-use industries, and immense industrial development in the Middle East & Africa and Asia Pacific region.

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Browse in-depth TOC on “Industrial Lubricants Market”

388- Market Data Tables

59- Figures

343- Pages

List of Key Players in Industrial Lubricants Market:

Shell plc (UK)
Exxon Mobil Corporation (US)
BP p.l.c. (UK)
Chevron Corporation (US)
TotalEnergies SE (France)
PetroChina Company Limited (China)
ENEOS Holdings, Inc. (Japan)
China Petroleum & Chemical Corporation (China)
Idemitsu Kosan Co., Ltd. (Japan)
Others

Drivers, Restraints, Opportunities and Challenges in Industrial Lubricants Market:

Drivers: Mounting demand from construction, mining, agriculture, and marine industries across worldwide
Restraints: Strict environmental norms
Opportunity: Growing demand for renewable energy
Challenge: fluctuating prices of raw materials

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Key Findings of the Study:

Metalworking fluid product type are projected to register the third-highest CAGR, in terms of value, of the global industrial lubricants market during the forecast period.
Synthetic oil is estimated to be the second-largest base oil type of industrial lubricants market, in terms of value, during the forecast period.
Europe is estimated to be the second-largest market for the lubricants market, in terms of value, …

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