US demand to grow more than 3% yearly through 2013 US demand for synthetic lubricants and functional fluids will rise more than three percent per year to $4.8 billion in 2013, with growth rising at an even faster pace in volume terms to reach 520 million gallons. Engine oils and hydraulic and transmission fluids will experience the fastest gains as synthetics finally begin to penetrate the conservative m...
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US demand to grow more than 3% yearly through 2013
US demand for synthetic lubricants and
functional fluids will rise more than three
percent per year to $4.8 billion in 2013,
with growth rising at an even faster pace
in volume terms to reach 520 million
gallons. Engine oils and hydraulic and
transmission fluids will experience the
fastest gains as synthetics finally begin to
penetrate the conservative medium- and
heavy-duty truck market, and as greater
new vehicle lubricant performance
requirements and growing consumer acceptance
further expand synthetics’ share
of the light vehicle market. While engine
oils and hydraulic and transmission fluids
will achieve relatively strong growth
going forward, other types of synthetic
fluids are expected to see a slow decline
in demand through 2013, largely as a
result of declining average fluid prices.
Medium-, heavy-duty truck market to see fastest gains
The largest market for synthetic lubricants
and functional fluids is light
vehicles. This reflects not only consumer
uptake of engine oils and transmission
fluids, but also the universally synthetic
nature of antifreeze, brake and deicing
(windshield wiper) fluids. Synthetic fluid
demand in light vehicles will continue to
grow due both to increasing lubricant
performance requirements, and growing
consumer acceptance of synthetics as a
valuable part of their preventative
maintenance programs. Despite gains by
synthetics in engine oils and transmission
fluids, long term industry trends toward
extended engine coolant flush intervals,
and the use of fill-for-life radiator and
coolant systems, will result in a continuing
decline in antifreeze volume demand.
The fastest growing market for synthetic
fluids will be the medium- and heavyduty
truck market. Increasingly stringent
engine specifications, as well as a move
by many engine manufacturers to specify
low viscosity engine oils for their 2010
emissions-compliant engines, will finally
lead many fleet operators to evaluate and
use synthetic engine oils and hydraulic
and transmission fluids. Synthetics will
benefit from their better performance
under load in low viscosity formulations,
as well as from the reduced maintenance
and downtime costs that result from
synthetics’ extended drain intervals. The
latter will be increasingly important to
fleet operators looking to cut costs as a
result of the 2008/2009 recession, and
subsequent slow recovery.
Group III oils, polyalphaolefins to be fastest growing types
Reflecting their heavy use in engine oils
and hydraulic and transmission fluids,
Group III base oils and polyalphaolefins
will be the fastest growing synthetic
chemicals, with esters also achieving
positive value growth through 2013.
Declining average prices will hurt value
demand for silicones and aromatics going
forward, though demand will remain
steady on a volume basis.
From a product standpoint, the greatest
declines will be in heat transfer and
metalworking fluids. In addition to
declining antifreeze demand in vehicle
applications, greater use of fill-for-life
coolant systems in industrial equipment --
as well as efforts by the Federal Aviation
Administration (FAA) to limit the run-off
of airplane deicing fluids at airports --
will contribute to falling heat transfer
fluid demand. Synthetic metalworking
fluid demand will suffer from increasing
substitution of bio-based fluids for
synthetics, particularly in metal removal
applications, to address worker safety
concerns related to the inhalation of
volatilized metalworking fluids.
Study coverage
Synthetic Lubricants & Functional
Fluids, a new industry study,
presents historical
demand data (1998, 2003 and 2008) plus
forecasts for 2013 and 2018 by material,
product and market. The study also considers
market environment factors, details
industry structure, evaluates company
market share and profiles 25 US industry
competitors.
Chemical Industry in Venezuela
TABLE OF CONTENTS
INTRODUCTION ix
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
Macroeconomic Outlook 5
Demographic Trends 9
Consumer Spending Trends 12
Manufacturing Trends 14
Competitive Products 17
Environmental & Regulatory Issues 19
Recycling & Re-Refining 21
Engine Oil Specifications 22
Pricing Trends 24
Foreign Trade & International Activity 27
III. PRODUCTS 30
General 30
Engine Oils 32
Gasoline Engine Oils 36
Diesel Engine Oils 40
Oils for Other Engines 44
Heat Transfer Fluids 47
Low Temperature 50
High Temperature 54
Hydraulic & Transmission Fluids 58
Transmission Fluids 60
Product Characteristics 60
Demand 62
Hydraulic Fluids 62
Metalworking Fluids 64
Product Characteristics 65
Demand 66
Metal Removal Fluids 69
Metal Forming Fluids 71
Other Metalworking Fluids 73
Dielectric Fluids 75
Other 78
Compressor Lubricants 80
Turbine Lubricants 81
Gear Lubricants 82
All Other 84
IV. MATERIALS 87
General 87
Glycols 89
Polyalphaolefins 92
Group III Base Oils 95
Esters 98
Silicone Fluids 101
Aromatics 104
Other 107
V. MARKETS 112
General 112
Vehicles & Equipment 114
Motor Vehicle & Industrial Equipment Outlook 115
Synthetic Lubricant & Functional Fluid Demand 118
Light Vehicles 120
Aircraft/Aerospace 122
Medium & Heavy Duty Vehicles & Buses 124
Industrial Machinery 127
Off-Highway Vehicles 130
Construction Equipment 132
Mining Equipment 133
Agricultural Equipment 133
Other 134
Metal Fabrication 137
Metal Fabrication Industry Outlook 137
Synthetic Lubricant & Functional Fluid Demand 138
Energy/Power Generation 140
Energy/Power Generation Industry Outlook 141
Synthetic Lubricant & Functional Fluid Demand 144
Process Industries 146
Process Manufacturing Industry Outlook 147
Synthetic Lubricant & Functional Fluid Demand 149
HVAC/Refrigeration Systems 153
HVAC/Refrigeration Industry Outlook 153
Synthetic Lubricant & Functional Fluid Demand 154
Other 156
VI. INDUSTRY STRUCTURE 159
General 159
Market Share 163
Competitive Strategies 167
Research & Development 167
Chemical Management Services 169
Merger & Acquisition Activity 170
Manufacturing 172
Marketing 174
Synthetic Engine Oil 174
Brand Name Recognition 176
Sports Sponsorship 177
Antifreeze 178
Other Synthetic Fluids Marketing Strategies 179
Distribution 180
Company Profiles 183
AMSOIL Incorporated 184
Anderol Incorporated, see Chemtura
Ashland Incorporated 187
BASF SE 190
BP plc 192
Castrol Limited, see BP
Chemtura Corporation 196
Chevron Corporation 199
Chevron Phillips Chemical Company LLC 202
CIMCOOL Industrial Fluids, see Milacron
CITGO Petroleum Corporation, see Petroleos de
Venezuela SA
CLC Lubricants Company 203
Coastal Unilube Incorporated, see Warren Oil
Cognis Deutschland GmbH & Company KG 205
ConocoPhillips 207
CPI Engineering Services Incorporated, see Lubrizol
Dow Chemical Company 211
Dow Corning Corporation 214
DuPont (EI) de Nemours 215
Dylon Industries Incorporated, see FUCHS Petrolub
Exxon Mobil Corporation 217
FUCHS Petrolub AG 221
Hatco Corporation, see Chemtura
Hercules Incorporated, see Ashland
Honeywell International Incorporated 224
Houghton International Incorporated 225
Lubrizol Corporation 226
Milacron LLC 229
Motiva Enterprises LLC, see Royal Dutch Shell
MS Fluid Technologies Incorporated, see FUCHS
Petrolub
Petroleos de Venezuela SA 231
Quaker Chemical Corporation 234
Royal Dutch Shell plc 236
Royal Purple Incorporated 240
Shell Chemicals LP, see Royal Dutch Shell
Total SA 243
Valvoline Company, see Ashland
Warren Oil Company Incorporated 247
Additional Companies Mentioned in the Study 249
LIST OF TABLES
SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 Macroeconomic Indicators 9
2 Population & Households 12
3 Personal Consumption Expenditures 14
4 Manufacturers’ Shipments 17
5 Synthetic Functional Fluid Pricing Trends 26
6 Synthetic Functional Fluid Foreign Trade 29
SECTION III -- PRODUCTS
1 Synthetic Lubricant & Functional Fluid Demand by Product 31
2 Synthetic Engine Oil Demand by Engine Type 36
3 Synthetic Gasoline Engine Oil Demand by Chemical & Market 40
4 Synthetic Diesel Engine Oil Demand by Chemical & Market 44
5 Other Synthetic Engine Oil Demand by Chemical & Market 47
6 Synthetic Heat Transfer Fluid Demand 50
7 Synthetic Low Temperature Heat Transfer Fluid Demand by Chemical & Market 54
8 Synthetic High Temperature Heat Transfer Fluid Demand 57
9 Synthetic Hydraulic & Transmission Fluid Demand by Product, Chemical & Market 59
10 Synthetic Metalworking Fluid Demand 69
11 Synthetic Metal Removal Fluid Demand 71
12 Synthetic Metal Forming Fluid Demand 73
13 Other Synthetic Metalworking Fluids Demand 75
14 Synthetic Dielectric Fluid Demand 78
15 Other Synthetic Lubricants & Functional Fluids Demand 79
SECTION IV -- MATERIALS
1 Synthetic Lubricant & Functional Fluid Demand by Material 88
2 Glycol-Based Synthetic Lubricant & Functional Fluid Demand 92
3 Polyalphaolefin-Based Synthetic Lubricant & Functional Fluid Demand 95
4 Group III Base Oil-Based Synthetic Lubricant & Functional Fluid Demand 98
5 Ester-Based Synthetic Lubricant & Functional Fluid Demand 101
6 Silicone-Based Synthetic Lubricant & Functional Fluid Demand 104
7 Aromatics-Based Synthetic Lubricant & Functional Fluid Demand 107
8 Other Synthetic Lubricants, Fluids, Additives & Blending Components Demand 111
SECTION V – MARKETS
1 Synthetic Lubricant & Functional Fluid Demand by Market 113
2 Vehicle & Equipment Indicators 118
3 Vehicle & Equipment Market for Synthetic Lubricants & Functional Fluids 119
4 Light Vehicle Market for Synthetic Lubricants & Functional Fluids 122
5 Aircraft/Aerospace Market for Synthetic Lubricants & Functional Fluids 124
6 Medium & Heavy Duty Vehicle Market for
Synthetic Lubricants & Functional Fluids 127
7 Industrial Machinery Market for Synthetic Lubricants & Functional Fluids 130
8 Off-Highway Vehicle Market for Synthetic Lubricants & Functional Fluids 132
9 Other Vehicle & Equipment Markets for
Synthetic Lubricants & Functional Fluids 136
10 Metal Fabrication Industry Shipments 138
11 Metal Fabrication Market for Synthetic Lubricants & Functional Fluids 140
12 Energy/Power Generation Indicators 144
13 Energy/Power Generation Market for Synthetic Lubricants & Functional Fluids 146
14 Process Manufacturers’ Shipments 149
15 Process Industries Market for Synthetic Lubricants & Functional Fluids 152
16 HVAC/Refrigeration Industry Outlook 154
17 HVAC/Refrigeration Market for Synthetic Lubricants & Functional Fluids 156
18 Synthetic Functional Fluids Demand in Other Markets 158
SECTION VI -- INDUSTRY STRUCTURE
1 Synthetic Lubricant & Functional Fluid Sales by Company, 2008 161
2 Research & Development Spending Patterns: Selected Synthetic Fluids Companies 169
3 Selected Acquisitions & Divestitures 171
LIST OF CHARTS
SECTION II -- MARKET ENVIRONMENT
1 Synthetic Lubricant & Functional Fluid Pricing Volatility by Product 27
SECTION III – PRODUCTS
1 Synthetic Lubricant & Functional Fluid Demand by Product, 2008 32
SECTION IV -- MATERIALS
1 Synthetic Lubricant & Functional Fluid Demand by Material, 2008 89
SECTION V -- MARKETS
1 Synthetic Lubricant & Functional Fluid Demand by Market, 2008 114
2 Vehicle & Equipment Market for Synthetic Lubricants & Functional Fluids, 2008 120
SECTION VI -- INDUSTRY STRUCTURE
1 Synthetic Lubricant & Functional Fluid Market Share, 2008 163
