The Middle East & Africa lubricants market is projected to grow exponentially in the next five years. The rapid growth is driven by the tremendous growth of the transportation and industrial sectors in the region. The development of the tourism, mining, quarrying industries in Africa and crude oil and natural gas exploration, construction industries in the Middle East is driving the growth of lubricants in the region. Hence, the Middle East & Africa lubricants market is set to witness high growth.
The report analyzes the Middle East & Africa lubricants market trends and forecasts till 2019. The market size estimations have been provided in terms of market volume (KT). The report also identifies the key manufacturers of the Middle East & Africa lubricants and provides analysis for each player in terms of company overview, financials, products & services offered, and recent developments.
The Middle East & Africa lubricants market is projected to register a CAGR of 3.
Read full report: https://www.globalmarketreports.com/middle-east-and-africa-lubricants-market-by-type-mineral-oil-synthetic-oil-bio-based-oil-and-greases-by-application-passenger-vehicles-commercial-vehicles-aviation-and-marine-and-industrial-machinery-and-equipment-global-trends-and-forecasts-to-2019-23151
The Middle East & Africa lubricants market is projected to register a CAGR of 3.2% between 2014 and 2019 to reach a volume of 4,871.0 KT by 2019. The Middle East & Africa lubricants market has been segmented by type into mineral oil, synthetic oil, bio-based oil, and greases. The market for synthetic lubricants is growing at a high rate. The demand has increased from vehicle manufacturers for synthetic lubricants because of its advantages as compared to mineral oil lubricants.
The political situation is the main hindrance for the growth of lubricants market; and the demand is driven due to huge consumption in industrial, marine, and aviation sectors.
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