San Francisco, California, May 25, 2018: A new research study by TMR Research presents an exhaustive assessment of the global market for industrial lubricants. The research report, titled “Industrial Lubricants Market – Global Industry Analysis, Size, Share, Category, Growth, Trends, and Forecast 2017 – 2025,” assesses the prominent trends, driving forces, restraints, market potentials, opportunities, and the challenges to find out the future prospects and performance of this market.
According to the research study, the significant rise in industrialization, particularly across emerging economies, increasing demand for automation and incorporation of advanced equipment in the industrial sector, and the decreasing costs of crude oil and derivatives across the world are boosting the global market for industrial lubricant, substantially. However, the presence of strict environment-related regulations, which are posing a threat to the conventional oil-based and synthetic lubricants industries, may hamper the market’s growth in the near future, reports the market study.
On the basis of the geography, Europe, North America, the Middle East and Africa, Asia Pacific, and Latin America are considered as the key regional markets for industrial lubricants across the world. Asia Pacific has been leading the global market for industrial lubricants on the basis of the increased sales across the region. The ongoing industrial revolution in China, Japan, and India is likely to ensure the dominance of this regional market even the forthcoming years. The markets in North America and Europe has become saturated, which is expected to slow down the growth in these regional markets over the next few years, states the research report.
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The vendor landscape of the global market for industrial lubricants has also been examined in this research report to gain an insight into the current hierarchy among the leading participants. Shell, Chevron Corp., Total, ExxonMobil, and BP are some of the key players operating in this market, mentioned in this research study.