12 July 2016
China is expected to remain the largest base oils import market in Asia. In 2015, Group II base oil demand grew 5% year on year, with 57% of demand met by imports; Group III base oil demand grew 4% year on year with 93% of demand met by imports. Although industrial lubricant demand is expected to decline , the demand from vehicle application sectors that require Group II and III base oils is expected to grow in 2016 and this will give international suppliers a competitive advantage.
The ICIS China Base Oils/Lubes Annual Report covers a comprehensive review of the country’s domestic market, outlines recent developments and gives you a forecast of supply and demand up to 2020.
To give you a glimpse of the report, here are some snapshots from the market commentary:
With Shell and ExxonMobil leading the 2015 domestic importers list, who will emerge at the top for 2016? Will these players continue to hold their position?
China’s base oils apparent consumption is expected to rise by 1.5% year on year to 7.78m tonnes in 2016, and it is estimated at around 8.28m tonnes in 2020, paving the way for import opportunities in the near future.
China’s apparent consumption of Group I domestic base oils appears to be smaller than the consumption for Group II grades, which means there is greater demand from producers of lubricants for gasoline-fuelled engines.
Given China’s prominent role in the base oils landscape, the ICIS China Base Oils/Lubes Annual Report includes a comprehensive review of the domestic base oils market – with a detailed supply/demand outlook up to 2020. As a subscriber of this report, you will receive all of the following:
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Combining local insight with a global perspective, the China Base Oils Annual Report is a must-have resource that will address all of the following questions posed by market participants: