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Mining Lubricants Industry Set To Grow

According to a report provided by Report Linker, the global mining lubricants market is projected to grow by US$727.4 million, driven by a compounded growth of 4.3%.

Mineral oil lubricants, one of the segments analysed and sized in the study, displays the potential to grow at over 4.7%. The shifting dynamics supporting this growth makes it important for businesses in this space to keep abreast of the changing market. Poised to reach over US$2 billion by 2025, mineral oil lubricants is expected to bring in healthy gains adding momentum to global growth.

The US is set to maintain a 3.3% growth momentum and within Europe, Germany is expected to add over US$26.1 million to the region’s size and clout in the next 5 – 6 years. Over US$20.9 million worth of projected demand in the region will come from markets in the rest of Europe.

In Japan, mineral oil lubricants could reach a market size of US$112.5 million by the close of the analysis period. As the world’s second largest economy and a major player in global markets, China exhibits the potential to grow at 6.9% over the next few years and add approximately US$210.8 million in terms of addressable opportunity for the picking by businesses and their leaders.

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Several macroeconomic factors and internal market forces could shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market.

source: globalminingreview

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