Lubricants Market To Expand Industry Growth At USD 180.21 Billion By 2030
San Francisco, 10 Jan 2023: The Report Lubricants Market Size, Share & Trends Analysis Report By Application (Automotive, Marine, Aerospace, Industrial), By Region (Asia Pacific, North America, Europe, MEA, CSA), And Segment Forecasts, 2022 - 2030 The global lubricants market size is estimated to reach USD 180.21 billion by 2030, registering a CAGR of 3.7% over the forecast years, according to a new report by Grand View Research, Inc. The product demand is expected to increase in the coming years due to an increase in the number of vehicles on the road and high-performance requirements in a vehicle. Furthermore, manufacturers are also moving and expanding their production facilities in developing countries due to several factors, including lower infrastructure and labor costs. This, in turn, is anticipated to accelerate industry growth during the projected period. Lubricant is a key product due to its high demand from application industries, especially industrial and automotiv