Why does demand for oil go up each year?
Posted: Tue Jun 05, 2018 8:01 am
NEW YORK, June 05, 2018 (GLOBE NEWSWIRE) -- The global lubricants market is projected to witness a CAGR of 3.5% over the forecast period. The industry is likely to expand from USD 126.5 billion in 2017 to USD 161.4 billion by 2024. The growth can be primarily attributed to the expanding automotive industry across the globe along with a considerable increase in the passenger vehicles. Also, rapid industrialization, particularly in the regions of Asia Pacific and the Middle East and Africa, has fueled the market demand over the years to come.
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Read: http://globenewswire.com/news-release/2 ... t-Ltd.html