Singapore Lubricants Market Size, Growth, Trends and Global Segments Analysis Report

The Singaporean market for lubricants is expected to witness a CAGR over 3% during the forecast period 2022-2031. One of the major factors driving the market studied is the growing demand for new automotive vehicles. Reducing chemical production is expected to hinder the growth of the market studied.

– The automotive and other transportation industry dominated the market in 2018, and it is expected to grow during the forecast period.
– Increasing adoption of synthetic lubricants is likely to act as an opportunity in the future.

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Key Market Trends

Increasing Demand for Automotive and Other Transportation Sector

– Automotive and other transportation sector is the largest consumer of lubricants in Singapore. The lubricants are majorly used in automobiles in the form of engine oil, coolants, brake oil, and other transmission oils.
– The sales of the new motor vehicles increased rapidly over the period of 2013-2017. The reason was the rising standard of living of the middle-class population. Singapore currently has one of the highest per capita incomes.
– The Government of Singapore issues the Certificate of Entitlement (COE) to its citizens, to state the right to the ownership of a vehicle. In recent years, the government has issued a large number of COEs to the citizens, in turn, leading to the higher sales of vehicles.
– Additionally, Singapore is considered the gateway for trade in the Asia-Pacific region, owing to the infrastructure and the logistic facilities available. Also, Singapore has one of the largest ship repairing and manufacturing facilities inbound around the world.

Singapore Lubricants Market
General Industrial Oils Market
Industrial Water Treatment Chemicals Market
Sulfur Hexafluoride Market
Glass Ceramics Market
Calcium Oxide Market
Alkylamines Market
Automotive Films Market
Europe, Middle-East and Africa Hot-melt Adhesives Market
Linear Alkylbenzene Sulfonate Market

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