Brazil Lubricants Market Outlook to 2025 - Synthetic Oil Segment to Witness the Fastest Growth in Brazil Lubricants Industry and is projected to Grow at CAGR of 3 4% during 2019-2025: Ken Research einnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from einnews.com Daily Mail and Mail on Sunday newspapers.
Key Findings
The Brazilian government is looking forward to invest ~USD 1.5 trillion in infrastructure projects in the country in the coming years and is rapidly investing in public-private partnership projects. The rising construction & manufacturing activity in the country will become the principal driver for the growth of industrial lubricants in the country.
State owned oil company, Petrobras, is planning to increase its lubricant production capacity by 2022 which would increase its total production capacity to 22,500 m
3 per. The company is also planning to add an API group II base oil plant with a capacity of 1,300 m
3 per day
.
The adoption of online channels for purchasing lubricants is slowly increasing as a result of the Covid-19 pandemic. In 2020, Castrol Brasil expanded its online presence by partnering wwith Fortbras to establish the brand s presence on the Hipervajero website & marketplaces such as Mercado Livre, Americanas.com & Magazine Luiza.