Rust Lubricant Market Propelled by Rising Infrastructure Development Activities
Rust lubricant are compounds that prevent corrosion and reduce friction between metal parts. Rust lubricant find extensive usage in industrial, automotive, marine and other sectors. They protect metal parts and components from rust and corrosion, extend their work-life and reduce downtime. With growing mechanization and industrialization globally, demand for machinery and equipment has been surging. This is fueling the need for regular maintenance and usage of rust lubricants to protect costly metal assets. The global Rust Lubricant Market is estimated to be valued at US$ 2.5 Billion in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The demand from the industrial and automotive sectors has been a key trend driving growth in the rust lubricant market. Both sectors require extensive lubrication of metal components to prevent rusting and extend their life. ...