Kenneth Research recently added a report on Global Machine Tool Oil Market which provides an in-depth analysis of the market scenario based on the market size and the compound annual growth rate (CAGR) of the market over the forecast period, i.e., 2022-2031. The European Chemical Industry Council, in one of its statistics, stated that, Europe is the second largest producer of chemicals globally and is further predicted to observe a significant growth in the coming years. In the year 2018, out of the top 10 chemical producing countries in the world, two countries belonged to Europe that generated a sales revenue of 19.1% of the total sales revenue globally. Moreover, the sales of chemicals in Europe grew from 2017 by 2.8% in 2018.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Machine Tool Oil Market products.
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Moreover, amongst all the continents that used pesticides, Asia registered as the largest user of pesticides by attaining a share of 52.4% in the year 2018. It was followed by the Americas, Europe, Africa and Oceania with 32.3%, 11.6%, 2% and 1.7% respectively. The statistics also stated that China was the largest user of pesticides amongst all the nations worldwide, utilizing 1,763,000 tonnes of pesticides for agricultural use.
The major highlights of the market study include:
- The growth opportunities as well as challenges faced by the industry players are discussed in detail in the report.
- A number of visually appealing graphs and tables are used in the report which make it easy to comprehend and assess the data and statistics.
- Financials of the key players in the industry are analyzed including the overall revenue, profit margins, sales and production cost. The analytical tools such as Porter’s five forces analysis and value chain analysis are used as well in order to give the clients an idea of the various business strategies adopted by the market leaders.
- The segmentation of the market is done on the basis of Product Type, Regions, Top Key Players, and Applications. The Machine Tool Oil Market study offers the market size, share and growth rate of each segment accompanied by a detailed analysis of the segment holding the largest market share.
- The data collection for this report is done through both primary and secondary research methodologies in order to ensure accurate statistics.
- For the geographical analysis, this report covers various regions which consist of:
- North America (U.S. & Canada)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe)
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific)
- Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa)
- The exhaustive study of Machine Tool Oil Market in the stated regions evaluates the present status of the industry along with consumption ratios and the target consumer base. Further, the Y-o-Y growth (%) and revenue (in USD Million) are mentioned for each segment in the report along with the factors driving the market growth.
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