Automotive Lubricants Market Report: Industry Manufacturers Analysis 2020-2027Posted by monica on November 12th, 2020 global Automotive Lubricants Market is expected to reach USD 107.22 Billion by 2026, according to a new report by Reports and Data. Over the past few months, the oil price rally has rewarded those taking part in output cuts and has also discharged a new wave of growth from the United States. The oil markets now look adequately supplied through 2020 coupled with gains from Brazil, Canada, and Norway. A solid increase in oil demand is expected aiding to strong world economy growth in the next five years. According to the International Monetary Fund, in the next five years the global economic growth is expected to set at 3.9%. Strong economies will use more oil and it is anticipated that the demand will grow at an average annual rate of more than 1.2 mb/d during the forecasted period. Petrochemicals are the fastest growing source of global oil demand precisely in United States and China. The shale revolution in United States has unleashed major source of cheap domestic feedstock. One of the key advantages of the global economic growth is that it is lifting more people into the middle class in developing countries and higher incomes mean sharply increasing the demand for consumer goods and services. Further key findings from the report suggest
For the purpose of this report, Reports and Data has segmented the global Automotive Lubricants Market on the basis Base Oil, Vehicle Type, Applications, and Region: Base Oil (Volume Kilo Tons, Revenue, USD Million; 2016–2026)
Vehicle Type (Volume Kilo Tons, Revenue, USD Million; 2016–2026)
Applications (Volume Kilo Tons, Revenue, USD Million; 2016–2026)
Regional Outlook (Volume Kilo Tons, Revenue, USD Million; 2016–2026)
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