Increasing demand for a diverse, innovative grade of lubricants for industrial as well as automotive applications is expected to drive growth. The Global Lubricants Market size is expected to reach USD 166.25 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a 3.8% CAGR during the forecast period. With the expansion of the passenger vehicles segment, there has been a rise in demand for high-quality automotive lubricants with better fuel efficiency and lower emissions. Government schemes in emerging economies, such as the “Make in India” program initiated by the Indian government, have attracted high foreign investments across the automotive industry. This has further boosted demand for lubricants. Stable base oil production across regions has stimulated feedstock security among blenders in the recent past. Stable supply would thereby address profitability concerns of manufacturers, thereby positively influencing industry competition. More...