Lubricating Oils & Greases: A Global Strategic Business Report
San Jose, CA (PRWEB) March 17, 2008
The global lubricating oil additives market was in turmoil in the year 2005 because of shortage of raw materials and two US hurricanes (Rita and Katrina) that hit about 31% of global lube additives capacity and 59% of US Group II oil capacity. In addition, refinery fires, catalyst problems and explosions created chaos in Asian and European base oil market. Nevertheless, the industry bounced back in no time. Companies having firm exposure in the local markets already established their presence in low risk-high growth markets of Asia-pacific, Middle East/Africa and South/Central America. The market for automotive lubricants has been exhibiting differing trends for different regions. This can be basically attributed to the growing environment consciousness in the western countries, while the developing countries are aping their western counterparts.
In the worldwide lubricating oils and greases market, certain regions exhibited consistent growth rates, while other regions continue to remain stagnant. The prime reason behind the static state of the market can be attributed to the technological developments taking place both in lubes industry as well as end-user fronts. Automotive lubricants market, with an estimated share of over 52% for 2007, commands the major chunk of worldwide lubricating oil and greases market. Synthetic lubricants market is forecast to witness impressive growth rates, even though prices tend to be about four times higher than the conventional oils available in the market. Asia-Pacific is the largest and fastest growing region and is projected to reach 3.5 billion gallons by the year 2010, at a CAGR of about 5% during the 2001-2010 period.
The lubricating oils and greases industry is controlled by product standards stipulated by trade associations, manufacturers, testing concerns and additive suppliers, all working in tandem to create better products. These associations have more or less become the global regulatory bodies trying to give a direction to the industry on various perspectives. Further, they provide strategies to be adopted by the industry in the new millennium.
The report titled "Lubricating Oils & Greases: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a comprehensive review of market trends and issues, competition, technological trends, consumption patterns, product overview, product introductions/innovations, and recent industry activity. The study also analyzes market data and analytics in volume sales for regions such as United States, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America by the following product groups/segments - Automotive Lubricants (Engine Oils, and Transmission & Hydraulic Fluids); Industrial Lubricants (General Industrial Oils, Industrial Engine Oils, Marine Lubricants, Metal Working Oils, and Process Oils); Synthetic Lubricants; and Greases.
Key players dominating the global lubricating oils and greases market include BP Plc, BP Lubricants USA, BP Petco Ltd., Chevron Corporation, Conoco Lubricants, Exxon Mobil Corporation, FUCHS PETROLUB AG, Idemitsu Kosan, Indian Oil Corporation Ltd., LUKOIL OIL COMPANY, Nippon Oil Corporation, Petróleos de Venezuela S.A., PT PERTAMINA (PERSERO), PT Wiraswasta Gemilang, Repsol YPF SA, Royal Dutch Shell Plc, Sinopec Corporation, Total SA, and Valvoline.
For more details about this research report, please visit http://www.strategyr.com/Lubricating_Oils_And_Greases_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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