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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.