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

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China Heavy Duty Truck Lubricants MarketMarket
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. 
• Growing demand for high-performance vehicles
  among transportation and manufacturing sectors is
  driving the demand for heavy-duty truck
  lubricants.
• The manufacturers are involved in developing
  advanced lubricants for the automotive sector

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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.
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• Noodles 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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  We have included Some Customization Options
• Company Profile
• Analyst Briefing
• Data Tables
• Key Contacts
• Free Customization
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