Frost & Sullivan: Europe and North America Drive Demand for Premium, Sustainable Lubricants to Meet Environmental Regulations

Frost & Sullivan: Europe and NorthFrost & Sullivan: Europe and North America Drive Demand for Premium, Sustainable Lubricants to Meet Environmental Regulations PR Newswire LONDON, March 3, 2014 - Price-sensitive markets in Asia-Pacific and Rest of the World will account for volume growth Rising vehicle production and manufacturing output accompanied by the enforcement of eco-friendly policies have lent momentum to the global lubricant market. Demand will escalate especially in developing countries such as Brazil, Russia, India and China, with the ASEAN (Association of Southeast Asian Nations), the Middle East, South America and Africa also emerging as potential growth markets. While developing regions will account for volume growth in lubricants, Europe and North America will push for high-efficiency, premium products in response to regulatory implications and customer demands. New analysis from Frost & Sullivan (http://www.chemicals.frost.com), Strategic Analysis of the Global Lubricant Market and the Impact of Bio-based Feedstock, finds that the market earned revenues of $123.64 billion in 2013 and estimates this to reach $178.87 billion in 2020. The study analyses lubricants used in the industrial, automotive, marine and aviation sectors.