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US Lubricant Market

  • April 2016
  • 380 pages
  • Freedonia
Report ID: 2065600

Summary

Table of Contents

Study coverage

Lubricants presents historical demand data (2005, 2010 and 2015) and forecasts (2020 and 2025) by basestock, formulation, product and market. The study also considers market environment factors, details the industry structure, evaluates company market share and profiles 39 US industry competitors.

US demand to approach 2.5 billion gallons in 2020

US demand for lubricants will rise slowly through 2020, with advances in industrial applications offsetting continued declines in light vehicle lubricant demand. Despite its maturity, the US lubricant industry will continue to experience significant change. The introduction of new standards and technologies, evolving regulatory requirements, and increasing customer demands for longer lasting, high performance products will all have an impact on base stock selection and supply, product formulation, and consumption trends. In general, growth in the US lubricant industry will be broad-based, with all major product types experiencing increases despite the trend toward lengthening fluid change intervals.

Motor vehicle market to continue declining

According to Lubricants, a new report from The Freedonia Group, the US motor vehicle industry is undergoing a period of technological innovation and development, driven in part by federal regulations that require vehicle manufacturers to increase the fuel efficiency of their fleets. New smaller, but still more powerful engines will increasingly require engine oils made from advanced basestocks and additive packages. At the same time, vehicle manufacturer efforts to reduce maintenance needs by lengthening engine oil and transmission fluid drain intervals will have a dampening effect on lubricant demand. This will be most apparent in the light vehicle market where declines in lubricant consumption will continue throughout the forecast period. However, these trends will also restrain demand growth in the medium- and heavy- duty, as well as off-road, vehicle markets.

Commercial, industrial markets to fare better

Lubricant demand in commercial and industrial applications will fare better, with efficiency improvements offset by higher output levels. At the same time, advances in manufacturing processes will require lubricants that can stand up to more severe operating environments. While this will lead to the increased adoption of more advanced API Group II and III, as well as synthetic, basestocks, lubricant formulators will also need to contend with federal efforts to further restrict and remove from market the use of chlorinated paraffins.

Process oils to have best growth prospects

Freedonia projects that process oils will have the best growth prospects based on their direct consumption during the production process. Metalworking fluids will also experience above average growth, reflecting continued gains in motor vehicle production and the manufacturing sector as a whole. Many products will also increasingly make use of re-refined and biobased basestocks, reflecting state and federal efforts to increase the environmental friendliness of the lubricant industry.

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