Global demand for lubricants will reach 41.8 million metric tons in 2010. Gains will by driven by increasing motor vehicle ownership and growing consumption of various lubricants in manufacturing activity. Engine oils will continue to claim over half of demand, while process oils will grow the fastest. Manufacturing markets will lead in purchases among all industry sectors.

Although engine oils will continue to comprise nearly half of all lubricant demand, fastest growth is expected for process oils, which are often consumed during processing and are thus not as vulnerable to trends toward reducing lubricant consumption. Gains for hydraulic fluids will also exceed the global average for lubricants, fueled by growing mining activity and oil and gas production, as well as increasing mechanization of agriculture and construction industries in developing nations.

This Freedonia study analyzes the $35.7 billion world lubricant industry. It presents historical demand data for 1995, 2000 and 2005 and forecasts to 2010 and 2015 by lubricant formulation (e.g., petroleum, synthetic, re-refined, vegetable-based), and by product (e.g., engine oils, process oils, hydraulic fluids, metalworking fluids). The report includes analyses by market (e.g., motor vehicle aftermarket, manufacturing), by world region, as well as market information for 31 major countries.

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 32 major players including Shell, Exxon Mobil, BP, Chevron, PetroChina, Total, Sinopec, and Lukoil.

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