Freedonia In The News
Article Title: US Demand for Synthetic Lubricants & Functional Fluids to Reach $6.3 Billion in 2018
Publication: NLGI, 9/4/2014
Freedonia Study: Synthetic Lubricants & Functional Fluids (3187)
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US demand for synthetic lubricants and functional fluids is forecast to increase 6.8 percent per year to $6.3 billion in 2018, with volume rising to 555 million gallons. “Growth will result from increasing market penetration of synthetic products at the expense of conventional fluids,” notes analyst Jason Carnovale. The outlook for synthetic products will vary across markets and applications, with each product subject to a unique set of factors influencing demand. These and other trends are presented in Synthetic Lubricants & Functional Fluids, a new study from The Freedonia Group, Inc., a Cleveland-based market research firm.
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