Dry Lubricants Market - Regional Analysis
APAC Market Insights
Asia Pacific industry is poised to account for largest revenue share of 40% by 2035, impelled by the growing industrial activities. The concentration of economic activity in urban areas owing to rapid urbanization is a major contributing factor to the rise of the industrial products sector in the Indian economy. According to estimates, India's industrial production increased from around 2% in November 2023 to over 3% in December 2023.
In addition, India's manufacturing sector is expanding quickly, and the country has a huge chance to grow its export portion of manufactured goods worldwide. For instance, in 2023, the manufacturing industry experienced an annual production growth rate of more than 4%.
North American Market Insights
The North America dry lubricants market is estimated to be the second largest, during the forecast period led by the growing automotive industry. There is no denying the auto industry's significance to the US economy, which is now the importer of automobile-related goods to more nations. For instance, the US automotive industry was projected to be valued at around USD 1514 billion in 2022.
