Overview of China Lubricating Oil Market
1, At present, China lubricating oil consumption gross ranks the world second, right after US. In 2012 China`s economic growing speed gradually fall, so that the lubricating oil demand growth is also slowing down. The competition of lubricating oil market is quite intense.
2, China auto engine lubricating oil market annual consumption is about 10 million tons, and the total value is over $ 300 billion. At moment, the high-end market is mainly taken by international big brands (such as Shell, Mobil, Castrol and etc). The state-owned enterprises including Great Wall from SINOPEC and Kunlun from PetroChina occupy the mid-range and some high-end market. A large number of domestic private lubricant companies live with the middle and low market in different regions.
3, It is well known that China is the world`s manufacturing center, and the industrial production pull on the huge demand of industrial lubricant products. At present, most of market share of general industrial lubricant (such as hydraulic oil, gear oil) is taken by domestic and international famous lubricant brands, and the domestic private own lubricant companies seize some niche market segments by their respective characteristics and special technology.
4, For lubricant raw materials, there is large quantities of base oil imported fromRussia, Singapore, South Korea, Taiwan and other countries and regions. Lubricant Additives as the most important technology for lubricant is most from international famous chemical enterprises such as Lubrizol, Infineum, Chevron and etc. In recent years the domestic private lubricant additive enterprises have developed rapidly, in some areas even more than two large state-owned enterprises.