Friday, November 20th, 2020 - The Insight Partners

Impact of COVID-19 Pandemic on Rail Greases Market

The COVID-19 pandemic began in Wuhan (China) in December 2019, and since then, it has spread around the globe at a fast pace. COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemical and material industry are one of the major industries facing serious disruptions such as supply chain breaks, disruptions in manufacturing due to lockdown and office shutdowns as a result of this outbreak.  For instance, China is the global hub of manufacturing and the largest raw material supplier for various industries. The lockdown of various plants and factories in leading regions such as Asia Pacific and North America is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various goods.

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Keywords

The rail greases market was valued at US$ 341.37 million in 2018 and is projected to reach US$ 420.27 million by 2027; it is expected to grow at a CAGR of 2.4% from 2019 to 2027.

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