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  Market Highlights Market Research Future (MRFR) experts estimate that the ASEAN, GCC, Africa & India lubricants market capitalization can reach USD 29,532.9 million by 2023, at a CAGR of 4.30% during the forecast period (2017-2023). High demand for lubricants in the automobile industry results has provided numerous opportunities. Furthermore, growing sale of commercial vehicles and continuous economic development of the Association of Southeast Asian Nations (ASEAN) and Africa regions will trigger the product demand in the coming years. Also, expansion of oil & gas pipeline network and increased number of refinery and petrochemical projects are expected to supplement the demand for oil & gas lubricants during the forecast period. On the flip side, increasing sales of electric vehicles are predicted to hit the product demand hard during the forecast period. However, rapid industrialization and increasing demand for automotive will prove buoyant for the market growth.

  Market Highlights Market Research Future (MRFR) experts estimate that the ASEAN, GCC, Africa & India lubricants market capitalization can reach USD 29,532.9 million by 2023, at a CAGR of 4.30% during the forecast period (2017-2023). High demand for lubricants in the automobile industry results has provided numerous opportunities. Furthermore, growing sale of commercial vehicles and continuous economic development of the Association of Southeast Asian Nations (ASEAN) and Africa regions will trigger the product demand in the coming years. Also, expansion of oil & gas pipeline network and increased number of refinery and petrochemical projects are expected to supplement the demand for oil & gas lubricants during the forecast period. On the flip side, increasing sales of electric vehicles are predicted to hit the product demand hard during the forecast period. However, rapid industrialization and increasing demand for automotive will prove buoyant for the market growth. R

  Regional Analysis – ASEAN, GCC, India, Africa Lubricants Market Among all regions, India held the highest potential with respect to market volume and market value in 2017 and is projected to continue its dominance over the forecast period. Rapid industrialization, growing population, flexible government regulations, and increasing investments can elevate the market to higher dimensions. However, the Africa region is the fastest growing region in the global lubricants market. Presence of multinational players such as Shell, BP, Chevron, Engen Petroleum, and others and increasing demand for agriculture equipment drives the market growth aggressively. For instance, in the first half of 2018, Shell became Aggreko’s largest lubricants supplier in Asia-Pacific.   Market Highlights Market Research Future (MRFR) experts estimate that the ASEAN, GCC, Africa & India lubricants market capitalization can reach USD 29,532.9 million by 2023, at a CAGR of 4.30% during the forecast per