Monday, November 1, 2010

Synthetic Lubricants and Extended Drain Intervals Contribute to Decreased Lubricant Consumption

According to Kline and Co., U.S. lubricant consumption decreased by an average annual rate of 9.2 percent between 2006 and 2009, with the decrease attributed to many different market and economic factors, including increased use of synthetic lubricants and the growing practice of extending drain intervals. While the volume of lubricant sales declined, the overall market value remained steady at $5.1 billion, indicating increased sales of more expensive, higher quality lubricants. Demand is expected to rebound by 2.4 percent per year from 2009 to 2014.