16 July 2008 18:48 [Source: ICIS news]
Volumetric data from Competitive Intelligence for the Global Lubricants Industry 2007-2017 shows Shell edging out its largest competitor, ExxonMobil, which accounted for an 11% market share in 2007. British Petroleum, Chevron, and PetroChina rounded out the top five lubricant marketers.
Kline’s report, to be released at the end of July, pegs the global market for finished lubricants at 39.3m tonnes in 2007, up 1.8% from 2006.
“It’s a mature market when you look at it globally, but the real opportunities are at the regional and country level,” said Geeta Agashe, vice president of Kline’s Energy research practice. “Volume-wise, Asia is going to be the growth engine of the future, and ?xml:namespace>
From a product segment standpoint, the anticipated growth of synthetic and semi-synthetic categories is huge.
Other opportunities for lubricant suppliers include the development of environmentally friendly green lubricants to address the environmental and legislative measures that will continue to affect global vehicle and equipment manufacturers.
Competition across the entire lubricant supply chain will remain intense as the major suppliers try to differentiate themselves through supply-chain initiatives, branding, marketing and product portfolio analysis.
Acquisitions, divestitures, alliances, and shut-downs are likely to continue in 2008, according to Agashe.
Chemicals and Valvoline motor oil maker
Lubes marketers can also expect continued competition from nationalised and independent oil companies like LUKOIL, Petronas, Petrobras, and Indian Oil as these suppliers look to grow their domestic market shares and expand outside their borders.
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