The global finished lubricant market is bound to increase during the forecast period owing to the rising demand for automobiles. Lubricants reduce the friction between components which leads to greater efficiency and less energy consumption.
The global phenol market size was USD 11.75 billion in 2016 and is expected to grow on account of its commercial viability and rising demand for its derivatives such as epoxy resins, polycarbonates, nylon, phenolic resins, pharmaceutical drugs and herbicides.
The global butane market size was valued over USD 60 billion in 2015. Its demand exceeded 138.22 million tons the same year. The industry is expected to reach nearly USD 82 billion by the end of the forecast period (2016-2024).
The African engine oil market was valued around 2 million tons in 2015. It is expected to surpass 870, 710 kilo liters by 2024 (2016 to 2024 being the forecast period).
Global heat transfer fluids market size is expected to reach 745.3 kilo tons by 2022, growing at a CAGR of 6.1% from 2015 to 2022.
Global alpha olefin market size is expected to reach 5.16 million tons by 2020, growing at a CAGR of 4.4% from 2014 to 2020.
Projected to grow at a CAGR of almost 2% from 2016 to 2024, synthetic lubricant market is expected to grow significantly over the forecast period owing to growing consumer in emerging countries such as Europe and North America
Growing cleaners and detergents demand in end-use industries and residential application is expected to fuel the global linear alkyl benzene market over the next five years. Strict governmental regulations regarding non-biodegradable materials usage is also anticipated to spur the market growth over the forecast period.
Increasing applications in end-use industries such as textile and resin based PET are expected to have a substantial impact on global ethylene glycol market growth. Ethylene glycol is a colorless sweet liquid that is also called monoethylene glycol (MEG). Monoehtylene glycol is a primary constituent for downstream product industries.
Growing crude oil and natural gas demand resulted in extensive drilling activities. Drilling fluids market has been witnessing strong growth over the past few years on account of increasing demand for oil drilling activities. In addition, depletion in onshore reserves resulted in key market players to shift their focus towards deep sea reserves which generates more revenue. This shift in focus towards deep sea reserves is expected to boost drilling fluids market demand over the forecast period.
Thermic fluids are extensively used in applications where high temperature of processing machines is to be maintained and carry the heat energy produced during the process. These fluids have found vast applications in major industrial applications. Major end-use industries of these fluids include concentrated solar power (CSP), foods & beverages, pharmaceuticals, oil & gas, plastics, chemicals and HVAC (heat, ventilation and air conditioning).