Lubricants have gradually been transformed into ordinary consumer goods for use with automobiles. With the improvement of mechanization level, the development of lubricating oil industry has also emerged. The higher the degree of mechanization, the higher the utilization rate of lubricating oil, and the prospects are bright. The development of the lubricating oil industry market will tend to grow steadily.

The development of the lubricating oil industry market will tend towards stable growth

Industry analysts point out that China has a huge lubricant market. The rapid growth of domestic demand for automotive oil and the trend towards high-end automotive oil will drive the automotive lubricant industry into a period of rapid development. It is expected that by 2020, the demand for lubricants in the Chinese market will double, and the consumption may exceed that of the United States. The rapid growth in demand for automotive oil and the trend towards high-end automotive oil will drive the automotive lubricant industry into a period of rapid development.

Faced with a huge demand market, lubricant manufacturing enterprises are laying out one after another. With the increasingly fierce market competition, the market pattern is undergoing significant changes. Foreign companies are entering one after another, trying to compete for the domestic market with their brand influence. Foreign brands are constantly infiltrating the Chinese market, and many lubricant factories that were originally located on the edge of large manufacturing enterprises are joining forces with overseas giants. Large private enterprises are also unwilling to be outdone and are increasing their research and development investment, relying on their cost and price advantages to compete with foreign countries. Local brands have broken the dominance of international lubricant giants and domestic monopolies.

Meanwhile, in the domestic lubricant market, the optimization of resource allocation has not been fully achieved, manifested in aspects such as base oil, scientific research capabilities, and material procurement. In addition, due to the limited scale and profitability of enterprises, the financial budget system is usually not truly implemented, and the completion of profits appears very passive. Therefore, there is still much work to be done to fully utilize and further optimize resources. In order to enhance brand image and increase the proportion of high-end oil, it is necessary to change the original market operation methods, strengthen integration and monitoring.

The released "2014-2018 China Lubricant Industry Analysis and Market Development Research Report" shows that the domestic lubricant market is developing well, and the supply and demand pattern of base oil in the industry has been broken. At the same time, customer demand is developing towards high-end and personalized, and the degree of market homogenization and fierce competition are becoming increasingly fierce. In the future development process of the lubricant industry, it is in line with the trend of energy-saving, efficient, and high-end internal combustion engine oil development.