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We have a research report from MarketsandMarkets that was published in November 2014 and it has information regarding the exponential growth within the next five years in the Middle East and Africa lubricants market. The research study shows how the high growth of the industrial and transportation sectors in the region are driving the rapid growth of the Middle East and Africa lubricant market.
This report also indicates other driving forces that can explain the acceleration of growth in the market. The other driving forces in Africa are: the development of the quarrying, mining, and tourism industries. Other driving forces in the Middle East are: the industries of construction, crude oil, and natural gas exploration.
The lubricant market trends and forecasts till 2019 are analysed in the study as well. The key manufactures of the Middle East and Africa, have been indicated and analysed in the report.
The market volume (KT) stated in the research report, is project to obtain a volume of 4.871.0 KT by 2019. The compound annual growth rate (CAGR )of 3.2% is projected to register for the Middle East and Africa lubricants market, between 2014 and 2019. The research report includes a segmentatios of the Middle East and Africa lubricants market. This segmentation is based on type namely, greases, bio-based oil, synthetic oil, and mineral oil.
Finally, the research report shows that the synthetic lubricants market is growing at a high rate. The main cause is the political situation. The massive consumption that comes from the aviation and marine industry, and industrial development are driving the force of the demand, within the lubricant markets.
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