HTF MI recently introduced Global Lubricating Oil Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are ExxonMobil Corporation, Royal Dutch Shell, British Petroleum, Total SA, Chevron, Shell & Castrol etc.
Lubricating oils are being increasingly used across several industrial applications as well in areas such as air compressors, auxiliary equipment, bearings, food machinery, gas engines, hydraulics, heat transfer systems, paper machines, turbines, metalworking, and natural gas compressors. Demand for industrial lubricants for these activities is on the rise and is expected to grow further over the forecast period. The global Lubricating Oil market is valued at xx million US$ in 2018 is expected to reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2019-2025.