The Demand of Lubricant in China

Date: 2015-12-03

China is the second largest lubricant consumption area in the world, and it is the one of few countries where stay positive growth, in 2013, China demand lubricant approximately 7.5 million tons, and in the last year, it still remained a slight growth, which consumed 7.6 million tons, compared it with that of 2004, the demand of lubricant has doubled at a compound annual growth rate of 5.47%

The demand of lubricant in China year by year
Lubricating oil is mainly used for automobile, steel industry, aviation, ship, waterpower, machinery, etc., and the consumption of automotive lubricants and industrial lubricants accounted for about 80% of total demand. 

The market analysis of lubricant in China
Automobile lubricating oil was the largest consumer, accounted for 55% of whole consumption, apparently the driven force was the rapid growth in vehicles, especial the growth of the middle and top grade cars. 
Industrial lubricant: in steel field, the growth rate if demand was decreasing duo to influence from Chinese economic environment. 

Overall, the Chinese demand of automobile lubricating oil has a larger room for growth, and Industrial lubricant is declining, but under a long term perspective, the gradual recovery of the Chinese market economy, somewhat the demand of industrial lubricant will be also lifted up.

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