The market size of lubricants is expected to reach USD166.59billion by 2021, registering a CAGR of 2.4% between 2016 and 2021.They are used in different applications ranging from automobiles to large multitudes of industries. There are four types of lubricants including mineral oil lubricants, synthetic lubricants, bio-based lubricants, and greases. Mineral oil lubricants are the major type of lubricants. Mineral oil lubricants due to its low cost as compared to others, easy availability, and the high use in all the sectors are expected to be the most dominant type between 2016 and 2021. On the other hand, owing to the increased governmental regulations and consumer awareness, synthetic lubricants and bio-based lubricants are expected to witness a high growth rate. Greases due to its high use in the manufacturing industry is projected to register the highest CAGR between 2016 and 2021.
Complete report on global lubricants market spread across 180 pages, profiling 10 companies and supported with 182 tables and 53 figures is now available at http://www.rnrmarketresearch.com/lubricants-market-by-type-mineral-oil-synthetic-lubricants-bio-based-and-greases-by-application-transportation-and-industrial-machinery-equipment-and-by-region-apac-eu-na-mea-and-sa-global-forecast-to-2021-market-report.html .
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