San Francisco, California, July 20, 2018: The global market for slideway oils/lubricants is the focus of analysis of a recent market research report by TMR Research. The report, titled “Slideway Oils/Lubricants Market Forecast, Trend Analysis & Competition Tracking – Global Review: 2018–2028,” presents a detailed account of the growth prospects of the market over the past years and includes a thorough predictive analysis regarding the market’s future growth prospects from 2018 to 2028.
The report states that the vast rise in R&D activities in the field of slideway oils/lubricants, in response to the rising demand for these products from across key application areas, has led to the introduction of several new product grades and varieties in the past few years. In the near future as well, the pace of innovations is likely to remain steady as a number of new companies are entering the market, making it more competitive.
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The market is, however, restricted due to a number of stringent regulations pertaining to the use of chemicals-based slideway oils/lubricants, chiefly in the field of processed foods and beverages. This factor is likely to limit the growth prospects of the market by a certain degree over the forecast period. However, companies are focusing on the development of food grade products for applications especially surrounding machineries in the field of food and beverages sector.
Geographically, the market in Asia Pacific is one of the leading regional markets for slideway oils/lubricants owing to a thriving automotive industry, chiefly in countries such as India and China. The Asia Pacific market for slideway oils/lubricants is likely to expand at a significant pace over the forecast period as well, with demand from industrially developed countries such as South Korea, Japan, Indonesia, and Taiwan to play key roles in increased demand.
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