Lubricant Antioxidants Market Growth Opportunities, Industry Analysis & Forecast: 2018-2028
Verfasser: ashwani_kailiya on Friday, 28 February 2020The US$ 1.6 billion lubricant antioxidants market is likely to witness 3% y-o-y in 2019, opines a new study by FactMR. Gains are likely to be driven by growing applications of lubricant antioxidants in various industrial sectors, especially automotive and transportation. The study remains bullish on growing demand for lubricant antioxidants in East Asia, with China leading the rally. The FactMR study offers analysis on lubricant antioxidants market for the forecast period 2018-2028. According to the study, the global market for lubricant antioxidants will witness healthy growth at a value CAGR of 3.6% throughout the assessment period.
The FactMR study finds East Asian countries, including China, Japan, and South Korea, account for around one-fourth revenue share of the global market. Demand for lubricant antioxidants from these three East Asian countries was valued at nearly US$ 435 million in 2018. A strong automotive industry, combined with growing investment in high-quality lubricants is likely to sustain market growth in East Asia.