disposable income of consumers, the demand for products from independent
lubricant manufacturers is also expected to rise significantly in the next few years.
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Asia Pacific to Remain at Forefront of Development
In terms of geography, Asia Pacific is expected to observe a growth in its share
during the forecast period, while there is expected to be a decline in the shares for
the rest of the regions. Expansion in the independent lubricant manufacturers
market in Asia Pacific is primarily ascribed to the expansion of emerging economies
and the ever-developing automotive industry in the region. Asia Pacific shows strong
potential for the independent lubricant manufacturers market in the forecast period
due to the availability of raw materials to produce lubricants, low-cost of labor, and
the number of major players that provide base oils as well as additives to the
regional independent lubricant manufacturers.
The demand for lubricants in Europe is primarily led by countries such as Germany,
France, U.K., and Russia. The market in Western Europe is comparatively mature
than Eastern Europe, but the latter is anticipated to show comparatively higher
promise in terms of growth potential for the independent lubricant manufacturers
market.
North America and Europe are considered mature markets due to the presence of
well-established key players and developed economies in these regions, which
enables independent lubricant manufacturers in these regions to establish their
presence in their respective local markets. The U.S. market accounts for the
dominant share of the independent lubricant manufacturers market in North
America. The well-established civil aviation industry, coupled with defense sector in
the region, is primarily viewed as a key driver for the overall demand for lubricants
manufactured by independent lubricants manufacturers.
Some of the leading companies operating in the global independent lubricant
manufacturers market are FUCHS, ADDINOL Lube Oil GmbH, AMSOIL INC., BVA Oil,
Carlube, Forsythe Lubrication, and Motul.
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