The agricultural lubricant market is projected at a valuation of USD 507.4 million for 2024. Surging at a CAGR of 5.5% between 2024 and 2034, demand for agricultural lubricants is estimated to reach USD 873.8 million by 2034.
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The agricultural lubricants are used in machinery engine oil. They help in smooth functioning minimizing friction between the engine components. They also safeguard the machineries against damage to the engine parts.
The business has soared by increasing mechanization and government support in this segment. High performance lubricants are required in difficult terrains to suffice the growing requirements. Increasing productivity and efficiency requirements from the farmers are likely to continue the expansion of agricultural lubricants market.
