Synthetic Lubricants Market Growth Opportunities 2022

December 31, 2022 ⚊ 1 Min read ⚊ Views 68 ⚊ BUSINESS

The global synthetic lubricants market size valued at USD 4.8 billion in 2021 and is expected to reach USD 6.9 billion by 2028, at a CAGR of 5.3% during the forecast period 2022 to 2028. Lubricants are chemicals that are applied to two sliding or gliding surfaces to reduce friction. The primary goal of the lubricant is to keep the two sliding or moving surfaces apart in order to decrease the amount of material damage caused by friction.

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