by Corinne Gangloff
April 18, 2018
Global process oil demand is forecast to grow 1.4% per year to 7.2 million metric tons in 2021. The rate of growth is expected to be lower than the global average in North America and Western Europe – where manufacturing growth will be the slowest – and higher than average in all other regions. Factors driving the market:
Growth for process oil demand will be fastest in the Africa/Mideast region due to expected above average increases in African manufacturing. While the Asia/Pacific is home to the country expected to undergo the biggest growth – India – countries with mature manufacturing markets, such as Japan and South Korea, will limit aggregate growth outlook for the region. These and other trends are presented in Global Industrial Lubricants, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Global demand for all types of industrial lubricants is expected to increase 1.6% per year through 2021. The major driving factors will be:
Global Industrial Lubricants (published 3/2018, 368 pages) is available for $5900 from The Freedonia Group. For further details or to arrange an interview with the analyst, please contact Corinne Gangloff by phone 440.684.9600 or email [email protected].
Related studies include:
#3515 Drilling Fluids & Chemicals Market in the US (May 2017)
#3478 Synthetic Lubricants & Functional Fluids Market in the US (January 2017)
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