Lubricants industry to 2015 surge in automotive market in emerging economies driving demand
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Lubricant Demand is Boosted by the Growing Asia-Pacific Automobile Market

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Lubricants Industry to 2015 - Surge in Automotive Market in Emerging Economies Driving Demand


Lubricant Demand is Boosted by the Growing Asia-Pacific Automobile Market

The global automotive industry is back on the growth path after the setback caused by the financial crisis of 2009. The industry is now actively pursuing innovative new technologies, production and business techniques. Although it is on a growth path, the fact remains that it will take a long time for it to recover.

Asia has recovered well as compared to the West, and this is reflected in the growing automobile numbers. China, the world’s largest automotive market, showed a more than 20% growth in December 2010 compared with the same period for the previous year, and this trend is expected to continue. According to the China Association of Automobile Manufacturers, China’s automobile production was 1,864,800 units in December 2010, an increase of 6.27% as compared to November 2010. Passenger car and commercial vehicle production were 1,445,300 units and 419,500 units respectively, an increase of 22.51% and 21.60% over the last year. From January to December 2010, China’s automobile production was 18,264,700 units, an increase of 32.44%; passenger car and commercial vehicle production were 13,897,100 units and 4,367,600 units respectively, an increase of 33.83% and 28.19% compared with the same period last year.


China and India seem to have weathered the financial crisis storm, compensating for the decline in lubricant demand in the rest of the world. In 2009, these countries took over the automotive production leadership position, with over 14 million units – a surge of more than 48% over 2008 – and well over 10 million more than the total production of the US, Canada, and Mexico combined. In India, the production growth was less dramatic.

As auto manufacturing shifts from North America to the Asia-Pacific region such as China and India, so too does the demand for automotive lubricants. For suppliers, to take advantage of the opportunity, these growing markets have become an important target to expand their production and distribution. Given its close proximity to China, for example, South Korea has become a major supplier of Group III base stocks, importing 70 to 80% of Group III consumption into the Chinese market.

For further details, please click or add the below link to your browser:

http://www.gbiresearch.com/Report.aspx?ID=Lubricant-Industry-to-2015-Surge-in-the-Automotive-Market-in-Emerging-Economies-Driving-Demand&ReportType=Industry_Report&coreindustry=ALL&Title=Oil_~_Gas


Premium Lubricant Products Showing Promise of Increasing Demand

Demand for premium lubricant products is growing, with increasing environmental concerns and the need for high quality lubricants to improve fuel economy. As the number of vehicles is going to increase in India and China, manufacturers need to adopt better design and performance criteria. With rapid economic development in both India and China, and migration towards higher quality lubricants, premium lubricants of higher grades are gaining market share.

Most vehicles are sold to first time buyers with very little knowledge of differences between lower grade and higher grade oils. This can be exploited by lubricant blenders through better branding, and giving good price/performance differentials between lower grade lubricant and higher grade lubricant. The consumer approach for vehicle maintenance is moving towards a preference for higher quality products, thereby increasing the demand for premium lubricants. Such consumers will be the target market for higher grade lubricants and performance of premium brands

GBI Research’s new report, “Lubricants Industry to 2015 – Surge in Automotive Market in Emerging Economies Driving Demand”, provides an in-depth analysis of the Global Lubricant Industry and highlights the various concerns, shifting trends and concerns around the globe. The report provides forecasts for the


Lubricant Industry to 2015. The report also provides forecasts of Global Lubricant Demand to 2015 by Region, by Market, by formulation and by Product. The report gives the SWOT analysis of various major players of the Lubricant Market. The report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GBI Research’s team of industry experts.

For further details, please click or add the below link to your browser:

http://www.gbiresearch.com/Report.aspx?ID=Lubricant-Industry-to-2015-Surge-in-the-Automotive-Market-in-Emerging-Economies-Driving-Demand&ReportType=Industry_Report&coreindustry=ALL&Title=Oil_~_Gas

Visit our report store: http://www.gbiresearch.com

For more details contact:

pressreleases@gbiresearch.com

North America: +1 646 395 5477

Europe: +44 207 753 4299

+44 1204 543 533

Asia Pacific: +91 40 6616 6782


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