Global lubricants market size is expected to reach USD 166.25 billion by 2025 with a CAGR of 3.8%.
Lubricants imply substances used to reduce or control friction as well as wearing of surfaces coming in contact with dissimilar bodies in relative motion.
These high-performance constituents are extensively used in numerous end-use industries such as corrosion inhibitors, anti-wear additives, friction modifiers, extreme pressure (EP) additives and viscosity index improvers.
In addition, the continuous revolution in the automotive manufacturing, such as launching of innovative rubber products that decrease harmful influence of waste landfills on the environment is anticipated to drive the demand in the years to come.Also, the rapid development of several manufacturing business in developing countries is one of the factors may propel the overall market growth in the years to come.
The growing acceptance of hybrid electric vehicles could hamper the development of the market in the forecast period.Get Free PDF Sample Copy of the Report (Including Full TOC, List of Tables & Figures) @Â https://www.millioninsights.com/industry-reports/lubricants-market-size/request-sampleLubricants Market may be explored by type, applications, and geography.
Automotive sector of lubricant is the dominant application of the market in 2016, covering 56.0% of the market share by volume.