Global Independent Lubricant Manufacturers' Market is Expected to Reach USD 8.5 billion in 2019: Transparency Market Research

Global Independent LubricantGlobal Independent Lubricant Manufacturers' Market is Expected to Reach USD 8.5 billion in 2019: Transparency Market Research PR Newswire ALBANY, New York, December 17, 2013 According to a new market report published by Transparency Market Research "Independent Lubricant Manufacturers' Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,"global independent lubricant manufacturers' market was 4,523.7 kilo tons in 2012 and is expected to reach 5,432.0 kilo tons by 2019 growing at a CAGR of 2.7% from 2013 to 2019. Browse the full report with complete TOC at h t t p : / / w w w . t r a n s p a r e n c y m a r k e t r e s e a r c h . c o m / i n d e p e n d e n t - l u b r i c a n t - m a n u f a c t u r e r s . h t m l Rising automotive sales owing to increased applications in the automotive industry, increased regulatory support for bio-based alternatives accompanied by technical support and value added services provided by independent lubricant manufacturers' are expected to fuel the product demand. Growing applications in the automotive and industrial sectors are likely to drive the market growth rapidly over the coming years. However, volatility in mineral oil prices and high cost of bio-based lubricants are some of the key challenges that are expected to confine the market growth.