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The European Synthetic Lubricants Market
Frost & Sullivan, Sep 2001
Around the globe, petrochemical companies are increasing their investment in the production of Linear-Alpha Olefins (LAOs) in a bid to keep pace with the growing demands of end-user industries.
The fact that six facilities are currently either planned or under construction, including a new 20,000 tonnes/yr. plant in the Far East recently announced by Idemitsu, is testimony to this expansion. Europe's largest existing facility is BP's Feluy plant in Belgium. Growth in the synthetic lubricants industry in Europe is driving some of this increased demand for LAOs.
Whilst all the base oil types used in the formulation of synthetic lubricants will experience growth in the period 2001-2007, it is the poly-alpha olefins (PAOs) that will exhibit the fastest growth with an estimated CAGR of 9.5%: PAOs are liquid oligomers of LAOs. The latest poly-internal olefins (PIOs) which are cheaper to manufacture are still in the developmental phase and so as yet present no threat to the PAO dominance.
The current European market for PAOs used in synthetic lubricants is 175,000 tonnes and valued at $255 million, revenues are forecast to rise to over $480 million by 2007.
These are just some of the conclusions drawn in a new study from Frost & Sullivan. The report examines the market for synthetic lubricants from two angles: by base oil chemistry and by end use. The chemistries covered are; group III oils, poly-alpha olefins (PAO), polyisobutene (PIB), organic esters, phosphate esters and polyalkylene glycols (PAG). The end use markets covered by the report include 4-stroke crankcase oils, 2 stroke engine oils, gear oils and ATFs, compressor and pump oils, hydraulic fluids and metalworking fluids. RegionNo. of Facilities Planned North America3 Middle East2 Far East1.
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