Synthetic Automotive Lubricants in UK to Reach 126,000 Metric Tons in 2021
CLEVELAND, Feb. 13, 2018 /PRNewswire/ — Demand for synthetic automotive lubricants in the UK is forecast to rise 2.2% per year to 126,000 metric tons in 2021. Factors supporting demand gains include:
- tightening emissions regulations and OEM recommendations that call for low viscosity lubricants
- ongoing consumer interest in improving fuel economy
- arrival of more modern engines in the vehicle fleet due to vehicle turnover
- expanding availability of synthetic blends, which offer many performance advantage of full synthetics at a more affordable price
Demand for synthetic and conventional automotive lubricants in the United Kingdom is forecast to fall slightly to 286,000 metric tons in 2021. Improved engine technologies and high quality lubricant formulations that will continue to lengthen average drain intervals will play a part in this decline. These and other trends are presented in Automotive Lubricants Market in the UK, a new study from The Freedonia Group, a Cleveland-based industry research firm.
More information about this study is here: https://www.freedoniagroup.com/industry-study/automotive-lubricants-market-in-the-uk-by-market-product-and-formulation-3607.htm
Engine oils will make up the largest share of demand, accounting for 72% of the market in 2021. Light vehicles like cars and SUVs account for a greater share of lubricant demand in the UK than anywhere else in the world. These vehicles have an outsized impact upon engine oils, accounting for nearly three-fourths of demand for this product.
Related studies include:
- #3478 Synthetic Lubricants & Functional Fluids Market in the US (January 2017)
About The Freedonia Group, a division of MarketResearch.com – The Freedonia Group is a leading international industrial research company publishing more than 100 studies annually. Since 1985, we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Additional Energy & Petroleum studies can be purchased at www.freedoniagroup.com, www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group