Market Analysis of Lubricant Additives Abroad

A lubricant additive manufacturer guides you through the market analysis of lubricant additives:

Global Lubricant Market

Entering the 21st century, although international lubricant supply and demand have fluctuated, they have generally maintained a steady increase. The overall global lubricant consumption is difficult to calculate due to differences in source and scale. According to incomplete statistics, from 2013 to 2018, global lubricant consumption increased from 39.6 million tons to nearly 46.6 million tons, with an average annual growth rate of 3.53%. Of the lubricant demand, automotive lubricants accounted for 54%, and industrial lubricants accounted for 46%.

According to a 2014 research report, the global lubricant market sales reached US$123.64 billion in 2013, and are estimated to reach US$178.87 billion by 2020, with an average annual growth rate of 5.4%. From 2014 to 2020, global lubricant shipments will continue to increase, reaching 49.1 million tons by 2020, with an average annual growth rate of 3.2%. Internationally, the average annual consumption of lubricating oil per capita is approximately 5 kg, but regional differences are significant. North America's consumption exceeded 18 kg in 2013. In contrast, the Asia-Pacific region's per capita consumption is less than 4 kg, and Africa's is only 2 kg. Western Europe's per capita consumption is about 9 kg, Eastern Europe and the Middle East's is close to 8 kg, and Latin America's per capita consumption has just exceeded 5 kg.

My country's Lubricating Oil Market

There is a wealth of data on my country's lubricating oil consumption in recent years in publicly available domestic literature, but the data varies greatly due to different calculation and measurement methods. For varieties such as marine oils, rubber filler oils, and white oils, some calculations do not include them. Furthermore, the apparent consumption of lubricating oil in publicly available data is only the sum of production and the import/export difference, without considering inventory factors. Inventory levels vary considerably due to significant fluctuations in oil prices. These factors contribute to the discrepancies in the calculated data. The following chart shows the calculation of my country's apparent lubricating oil consumption from 2008 to 2017 by research institutions.

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