The global synthetic ester lubricants market is expected to reach USD 2.0 billion by 2020, according to a new report by Grand View Research, Inc. This trend is expected to continue over the forecast period due to growing need of synthetic ester as hydraulic oils in manufacturing and construction industry. Rapid industrialization and infrastructure development in Asia Pacific is expected to propel demand for synthetic esters over the forecast period. Increasing demand for environment-friendly products is another major factor contributing towards the overall market growth. Rising need from heavy machinery manufacturers owing to its ability to withstand high temperatures is also playing a major role in fueling growth and trend is expected to continue over the forecast period.
http://www.grandviewresearch.com/industry-analysis/synthetic-ester-lubricants-market
No comments:
Post a Comment