According to the Freedonia Group, motor vehicle lubricants will continue to comprise the largest share of overall lubricant demand through 2015, but growth will be quicker in the manufacturing market. Motor vehicle lubricant demand is expected to grow 1.8 percent per year through 2015, while manufacturing lubricant demand is expected to increase 3.5 percent per year through 2015, buoyed by strong demand for hydraulic fluids. The research firm also notes the increased practice of extending drain intervals and growing use of high-performance synthetic oils in North America and Western Europe will play a role in decreased motor vehicle lubricant demand.
“While the trends towards lengthening drain intervals and the increased use of synthetics have not shifted, the pace of change for both of these areas has picked up more than we would have expected two years ago,” said Freedonia analyst Ned Zimmerman.
