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MarketResearch.com has announced the addition of GBI Research's new report "Lubricants Industry to 2015 - Surge in Automotive Market in Emerging Economies Driving Demand," to their collection of Chemicals market reports.
According to the report, the global automotive industry is back on the growth path after the setback caused by the financial crisis of 2009. The industry is now actively pursuing innovative new technologies, production and business techniques. Although it is on a growth path, the fact remains that it will take a long time for it to recover, the report states.
Asia has recovered well as compared to the West, and this is reflected in the growing automobile numbers. China, the world's largest automotive market, showed a more than 20% growth in December 2010. China and India seem to have weathered the financial crisis storm, compensating for the decline in lubricant demand in the rest of the world. In 2009, these countries took over the automotive production leadership position, with over 14 million units -- a surge of more than 48% over 2008 -- and well over 10 million more than the total production of the US, Canada, and Mexico combined. In India, the production growth was less dramatic.
The report scope includes
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