The Indian lubricants market is the third-largest in the world. Within it, MCO account for 9% of total demand, making it the third-largest product category. Among all lubricants product categories, MCO was one of the least impacted by the COVID-19 pandemic and one of the fastest to recover. According to current estimates, the MCO market is growing at 3.7% per year, making it one of the most attractive product segments for lubricants marketers. Growing electrification will change that and create new challenges for market participants.
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