Commenting on this report, an analyst from Market Research Future (MRFR)’s team said “Poland Industrial Lubricants Market” is estimated to be valued at USD 156.8 million in 2016 and is expected to grow at CAGR of 3.29% during the forecast period from 2017-2023.
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Segment Analysis:
Regional Analysis:
The Poland Industrial Lubricants Market is expected to reach USD 195.3 million by 2023 from USD 156.8 million in 2016, expanding at CAGR of 3.29 % from 2017-2023. Rapidly expanding industrial base coupled with escalating investments in construction sector is expected to drive demand for industrial lubricants over the forecast period. The growth drivers for manufacturing sector in the country include availability of large pool of skilled labor and technological know-how along with favorable foreign investment norms. Robust growth in niche sectors, for instance, 3D printing and medical devices, is expected to positively support the industrial growth rate. Increasing mining activities in the country has led to a significant rise in demand over the past few years. The key strategies followed by most companies in the market are, agreements and collaborations, mergers and acquisitions, joint ventures and expansion. Total started up the lubricants oil blending plant in Singapore with annual capacity of 310,000 metric tons, whereas BP signed a production sharing contract (PSC) with China National Petroleum Corporation (CNPC). This deal will result in combined operational expertise of both BP and CNPC in the field of exploration, development, and production of shale gas to jointly realize the efficient development of unconventional resources. Such developments within key industry participants is expected to result in improved product offerings at optimum price levels and benefit overall industry growth.
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