Netherlands Lubricant Market Gears Up for Sustainable Growth: Booming Industrial Demand and Eco-Conscious Consumers Drive 5.4% CAGR by 2028: Ken Research
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The market will grow at a CAGR of 4.2% during 2022-2027 due to increase in fuel cost & rising customer preference. - Major investments in petrochemicals, manufacturing, & logistics will uplift the need for lubricants in machinery, processing plants & transportation fleets Stricter global emission norms & environmental standards for machinery & vehicles to heighten demand for eco-friendly lubricants.
- Moreover, an ever-evolving e-commerce sector & demand for renewable energy serve as major opportunities for the market.
- According to Ken Research estimates, the Nigeria Lubricants Market which grew at a CAGR of ~% from 2017-2022P & is forecasted to grow at a CAGR of ~% from 2023F-2027F owing to an increasing demand for expanding wind energy sector & rising demand for high performance lubricants.