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China Leads Worldwide Demand
6:16 AM MDT | August 7, 2007 | Chemical Week Editorial Staff
Global demand for lubricants is predicted to rise 2.3%/year, to 41.8 million m.t. by 2010, says a recent report by The Freedonia Group (Cleveland). Healthy manufacturing activity worldwide will drive growth for industrial lubricants, including process oils and hydraulic fluids, while increasing global motor vehicle ownership will boost demand for automotive lubricants, Freedonia says. However, “the prevailing global trend is toward reducing lubricant consumption, both for environmental reasons as well as cost-effectiveness purposes,” it says...
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