Friday, April 30, 2010

Strong Growth Forecast for Synthetics

A new study from the Freedonia Group forecasts strong growth for synthetic lubricants in the coming years, with demand for synthetic engine oils rising 7.3 percent per year to 2013.

“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 increasing new vehicle lubricant performance requirements and growing consumer acceptance further expand synthetics’ share of the light vehicle market,” stated the research firm.