Industrial Lubricants Forecast Report 2022

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The industrial lubricants market is fast growing, and the demand for these products are increasing with time. During the period 2017 to 2022, the market is likely to grow at a CAGR of 3.03%. The automobile sector contributes to the growth of this sector to a large extent. Besides, a number of other industries are emerging to be potential consumers to industrial lubricants. These include mining, marine and other industries. Other than these, the manufacturing firms in the developed and underdeveloped countries are developing rapidly, and the demand for lubricants is high in these sectors. In addition to the traditional lubricants used in industries, synthetic and bio lubricants are also being widely used in various sectors.

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