NAVI MUMBAI, India -- Bharat Book Bureau presents the new report, on 'World Lubricants to 2017' World demand to rise 2.4% annually through 2017, World demand for lubricants is forecast to increase 2.4 percent per year to 43.6 million metric tons in 2017, driven by strong growth in vehicle ownership and ongoing industrialization in the developing countries of Asia. World Lubricants to 2017 (http://www.bharatbook.com/automotive-components-market-re...)
Above average increases will also occur in South America and in Africa/Mideast. These regions will each experience healthy economic growth, rising manufacturing output, and expanding motor vehicle parks -- all of which will benefit lubricant consumption. In contrast, demand will remain nearly flat in the developed countries of North America and Western Europe. There, efficiency gains will offset new demand from rising economic and industrial output. Although volume growth will be restrained in these regions, lubricant suppliers will benefit from increasing demand for premium, high value products such as synthetic and biobased lubricants.
Motor vehicle aftermarket to remain largest segment
Motor vehicle aftermarket (http://www.bharatbook.com/market-research-report/automoti...) demand will continue to account for the largest share of lubricant consumption globally. Demand for products such as engine oils and transmission fluids will increase quickly in many developing countries where rising incomes will support rapid growth in the number of cars and trucks in use. However, advances in vehicle technology and lubricant quality, as well as growing acceptance of high performance synthetic oils, will allow for drain intervals to lengthen in all regions. While these effects will not prevent strong growth in countries such as China and India, they will result in ongoing declines in developed economies with saturated vehicle markets such as the United States, Japan, and Western Europe.
Manufacturing market to post healthy gains
Lubricants used in the manufacturing market will expand more rapidly than motor vehicles, driven by rising manufacturing output in developing countries. Asia, Eastern Europe, South America, and Africa/Mideast will benefit from the continued shift of global manufacturing activity to these regions. This trend will drive healthy growth in manufacturing lubricant demand; however, as is the case for motor vehicle lubricants, improving lubricant efficiency will restrain even stronger gains.
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