China Heavy Duty Truck Lubricants Market - Forecast(2022 - 2027)

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China Heavy Duty Truck Lubricants Market -
Forecast(2022 - 2027)Market size, Industry
outlook, Market Forecast, Demand Analysis, Market
Share, Market Report 2021-2026
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• China's heavy-duty truck lubricants market size
  is forecast to reach US2.3 billion by 2026,
  after growing at a CAGR of 6.3 during 2021-2026.
  Lubricants are used as transmission fluids and
  hydraulic fluid to reduce friction between two
  surfaces of the components of a vehicle.
• They are also used to control the vehicle's high
  temperature by absorbing the heat generated while
  the vehicle is running. Lubricants offer various
  properties such as lubricity, high boiling point,
  corrosive prevention, and thermal stability among
  others. The growing economic activities in China
  are boosting the market growth for heavy-duty
  truck lubricants.

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Key Takeaways

• The growing usage of bio-based lubricants among
  heavy-duty trucks is driving the market growth.
  Bio-based lubricants are environmentally friendly
  and easily biodegradable compared to other
  lubricants available at the market place.
• The manufacturers are involved in developing
  advanced lubricants for the automotive sector.
  Investments in research and developments to
  enhance the capabilities of heavy-duty truck
  lubricants are supporting the market growth.

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• By Distribution Channel- Segment Analysis
• The mineral oil segment accounted for
  approximately 32 of the market share in 2020 and
  is estimated to grow at a significant CAGR during
  the forecast period. Mineral oils are lubricants
  derived from refined crude petroleum oil. Mineral
  oil is ideal for old vehicles and they are easily
  available and cost less compared to other oil
  types. Mineral oils also need to be changed more
  frequently than synthetic oils this will further
  increase the usage of mineral oil. Mineral oil
  provides more high-quality lubrication than
  synthetic lubricants. The synthetic segment is
  expected to hold a significant share and is
  estimated to grow at a high CAGR during the
  forecast period 2021-2026.

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• Juice Market   
• Industry Outlook 
• Jiangsu LOPAL Tech. Co.,
• Guangdong Delian Group Co.,
• Shandong Yuangen Petroleum Chemical,
• Sinopec,
• PetroChina,
• Royal Dutch Shell Plc,
• Exxon Mobil Corporation,
• Total S.A., BASF SE, Chevron Corporation

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China Heavy Duty Truck Lubricants Market -
Forecast(2022 - 2027) Learn More About the
Report _at_ https//www.industryarc.com/Report/188
45/china-heavy-duty-truck-lubricants-market
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