The Global Demand for Lubricants
According to Reuters, the Asia-Pacific region is the largest global consumer of lubricants, with a market share of 45%. Note that the industry also expects the Asia-Pacific region to lead the way in terms of future growth, as well, as it continues to be the world’s manufacturing base and following consumer trends in nations like China, where personal automobile purchases continue to increase.
According to Reuters, the Asia-Pacific region is the largest global consumer of lubricants, with a market share of 45%. Note that the industry also expects the Asia-Pacific region to lead the way in terms of future growth, as well, as it continues to be the world’s manufacturing base and following consumer trends in nations like China, where personal automobile purchases continue to increase.
Other Industries and Their Demand for Lubricants
While the automotive industry is the primary source of demand for lubricants, there are others, as mentioned above. Each of these varies in terms of lubricant demand, but include:
- Food Processing
- Metal Working
- Textiles
- Construction
- Hydraulic
- Chemical Manufacturing
- Energy Production
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