Lubricant demand in Argentina was negatively affected by the recession continuing into its third year, as well as the pandemic. In addition, the decline in automotive sales and oil and gas production have offset growth that was being driven by other factors. However, the finished lubricants market in Argentina is estimated to increase at a compound annual growth rate (CAGR) of 2.9% between 2020 and 2025 to reach 209.4 kilotonnes, according to Kline’s just-published analysis. What are the five key drivers of this impressive outlook?
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