Increasing demand from the biodiesel sector is projected to drive the industrial oils market in the Asia Pacific
The industrial oils market is estimated to be valued at USD 60.2 billion in 2019 and is projected to reach USD 80.7 billion by 2025, recording a CAGR of 5.0% during the forecast period. Increased demand in the biodiesel sector due to its reduced impact on environment pollution and expansion of industries such as energy, chemicals, thermal, cosmetics, and pharmaceuticals in the emerging Asia Pacific...
Latest Regulatory Trends Impacting the Industrial Oils Market
The industrial oils market is estimated to account for a value of USD 60.2 billion in 2019 and is projected to grow at a CAGR of 5.0% from 2019, to reach a value of USD 80.7 billion by 2025. The biodiesel industry is projected to be a major revenue generator for industrial oils manufacturers in the coming years due to its reduced environmental impact. In addition, the industrial sector in the emerging...