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September, 2020

The global general industrial oils (GIOs) and grease market was growing slowly at a 0.2% CAGR from 2014 to 2019. Kline’s most–likely COVID-19 scenario estimates the 2020 overall decline in GIOs and greases to be around 13%.  However, a strong recovery with a CAGR of 2.7% is expected between 2020 and 2024. While North America is projected to see the greater rate of decline, developing markets such as Africa and the Middle East are estimated to grow quickly once they begin to recover from the COVID-19 shutdowns. 

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