World Lubricants

World Lubricants

Growth in the world lubricant market will total 2% annually through 2019, reaching 45.4 million metric tons. Gains will be fueled by expansion in motor vehicle ownership and manufacturing output in developing regions. However, volume growth in mature markets will be limited by saturated motor vehicle markets and lengthening drain intervals.

This report segments the world lubricants industry by product, market, and region. Data are provided in metric tons.

Lubricant products include:

Engine oils

Hydraulic oils

Metalworking fluids

Process oils

Other

Engine oils will remain the largest of these through 2019, accounting for 47% of the market. Fastest growth will be for process oils, driven by growth in the manufacture of tires and various other goods such as electrical transformers.

Major lubricant markets include:

Motor vehicle aftermarket

Manufacturing

Other

The motor vehicle aftermarket was the leading outlet in 2014, accounting for 39% of demand. The most rapid gains through 2019 are forecast for the Other Markets category, which includes such industries as agriculture, mining, construction, and oil and gas drilling.

Historical demand and forecasts for 23 countries in the following regions are covered in this report:

North America

Western Europe

Asia/Pacific

Central & South America

Eastern Europe

Africa/Mideast

The Asia/Pacific region will see the strongest advances among world regions through 2019. Lubricant demand in China will surpass that of the United States as personal vehicle ownership and manufacturing activity in China expands.

Hundreds of companies manufacture lubricants worldwide, ranging in size from small, independent operations to multinational oil conglomerates. However, market share is concentrated among top suppliers. Producers covered in this study include BP, Chevron, Exxon Mobil, FUCHS Petrolub, Idemitsu Kosan, JX Nippon Oil, Lukoil, PetroChina, Rosneft, Shell, Sinopec, and Total.