SAN FRANCISCO, July 27, 2015 /PRNewswire/ --
The Global Lubricants Market size is expected to reach USD 68.54 billion by 2022, according to a new study by Grand View Research, Inc. Growth of automotive industry in emerging markets of Asia Pacific and Latin America is expected to drive automotive lubricants demand. The market is characterized by increasing demand for engine oils, transmission fluids and hydraulic fluids in both commercial and consumer automotives. Increasing sales of passenger cars and motorcycles is expected to further strengthen the trend over the forecast period. Increasing industrial output in China, India, Brazil and Russia is expected to drive the demand for industrial lubricants.
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Browse full research report with TOC on "Lubricants Market Analysis By Product, Industrial (Process Oils, General Industrial Oils, Metal Working Fluids, Industrial Engine Oils), Automotive (Heavy-Duty Engine Oils, Hydraulic & Transmission Fluid, Gear Oil, Passenger Vehicle Engine Oils, Automatic Transmission Fluid, Gear Oil) And Segment Forecasts To 2022" at: http://www.grandviewresearch.com/industry-analysis/lubricants-market
Recycling of used lubricants is another major issue that has attracted a lot of stern regulations from agencies. The global market is regulated by policies from environmental agencies such as U.S. EPA, REACH and ECHA. Lubricant products or chemicals that are imported or manufactured in Europe need to be preregistered with REACH and have to be compliant with ECHA regulations. Similar guidelines have been established by EPA to ensure biodegradability, toxicity and labeling of lubricant products in the U.S.
Further key findings from the study suggest:
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/petrochemicals-and-downstream-derivatives
For the purpose of this study, Grand View Research has segmented the Lubricants Market on the basis of product and region:
Browse related reports by Grand View Research:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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Grand View Research, Inc
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