Lubricant demand in the United States is projected to increase 0.3 percent annually to 2.4 billion gallons by 2020, according to a new study by Freedonia Group. Rising manufacturing output and increasing commercial activity are some of the trends driving this growth.
Certain industries, such as commercial transportation and manufacturing, have rebounded in the last five years after reduced activity during the 2008 recession in the U.S., Freedonia analyst Minor Cline told Lube Report. Manufacturing of durable goods such as machinery and motor vehicles has returned to pre-recessionary output levels, which has boosted demand for lubricants used in the assembly and transportation of finished goods, as well as those used in the machining of parts.
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