Matured Developed Lubricant Markets Move into
Decline, Promising Outlook for Developing Markets
In recent years, debt has meant that developed US
and European economies have moved into decline, while there is a promising
outlook for the lubricants market in emerging economies in the regions of
Asia-Pacific and Middle East and Africa in coming years. The Asia-Pacific
region accounted for the largest share of global lubricants demand with 42% of
the overall lubricants market in 2012. By 2017, with the exception of Europe
and North America, all regions are expected to increase their global share,
with the Asia-Pacific region expected to account for 46%, while the Middle East
and Africa and South and Central America are expected to account for respective
shares of 11.6% and 8.9% of the global lubricants market. Europe and North
America are expected to account for 16.7% of global lubricants demand each by
2017.
Asia-Pacific is Largest and Fastest Growing Regional
Lubricants Market
The Asia-Pacific region is the largest and fastest
growing regional lubricants market worldwide. The region accounted for a share
of almost 42% of the global lubricants market in 2012. Asia-Pacific is expected
to register the highest growth of any region worldwide, to reach 17 million
tons by 2017. Other regions such as Middle East and Africa and South and
Central America are also expected to contribute substantially to the growth of
the global lubricants market by 2017. Increasing consumption in emerging
economies such as China and India is no surprise to the industry. Foreign
lubricant marketers, base stock manufacturers and additive suppliers are
establishing their operations in these countries, encouraged by the steady
growth rate.
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Rebound of Motor Vehicle Market Provides Welcome
Boost for Lubricants Industry
Motor vehicles are one of the largest markets for
lubricants. In 2012, motor vehicles accounted for almost 56% of global
lubricants demand. The global automotive industry is now on the growth path
after a setback caused by the financial crisis. Global motor vehicle sales,
which dipped in 2008 and 2009 due to the economic crisis, re-gained momentum in
2009. The industry is now actively pursuing innovative new technologies,
production and business techniques.
According to the International Association of Motor
Vehicle Manufacturers (OICA), the total number of global vehicle sales amounted
to 81.7 million units in 2012, increasing by approximately 5% over the previous
year (OICA, 2013). Improvement in global vehicle sales figures can be
identified in every region, with the exception of Western Europe. Asia has
recovered well compared to the West, which is reflected in the growing
automobile sales numbers in the region. Within Asia, Thailand registered strong
growth, when vehicle output increased by 70.3% over the previous year to reach
2.5 million units in 2012. Production activity also increased in the North
American market. With global vehicle production and sales activity slowly
gaining momentum, it is expected that this will provide a welcome boost to the
global lubricants industry in coming years.
Shell Remains the Lubricant Market Leader for the
Year 2012
Shell Lubricants retained its position as the
leading lubricants supplier globally in 2012. The company accounts for around
13% of the global market in terms of finished lubricant sales in 2012. The
company manufactures and manages a wide range of products for automotive and
industrial applications. Shell’s global presence, strong Research &
Development (R&D) activities, strategic investments in blending plants, and
relationship with Original Equipment Manufacturers (OEMs) have all contributed
to the company’s leadership in the lubricants market.In the recent past, Shell
announced a number of strategic investment plans. Shell continues to invest in
technology and partnerships that support new product development and maximize
fuel efficiency, thereby benefiting customers.
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Reasons
to buy
- Develop business strategies with the help of
specific insights about the Global Lubricant Industry
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Global Lubricant Industry
- Understand the regional markets of the Lubricant
Industry in terms of the demand of Lubricant
- Increase future revenues and profitability with
the help of insights into the future opportunities and critical success factors
in the Global Lubricant Industry.
- Benchmark your operations and strategies against
the major players in the Global Lubricant Industry
