In the past 10 years, global lube oil production and consumption have been growing at a low rate, with an average annual growth rate of 1.4%. However, since 2000, China's lubricant consumption has increased by 50%, with an average annual growth rate of 5.2%.

Since the outbreak of the financial crisis in the second half of 2008, the lube oil market in Europe and the United States and other developed countries and regions has been in a downturn. However, in the current year, China’s lubricant consumption reached 5.62 million tons, an increase of 4.3% over the previous year. One of the many markets that maintain growth.

It was also in this year that China became the second largest consumer of finished lubricants in the world after the United States. According to Flowserve's forecast, China is expected to surpass the United States in 2020 and become the world's largest consumer of lubricants.

Today's China has undoubtedly become the focus of oil companies at home and abroad. The production and sales companies in various countries have set foot in full force in an attempt to gain the largest market share in this battle. In this race, where can Chinese local companies go? Which companies will eventually come to the fore?

Three legs

- Difficult rise of local companies

At the beginning of the new year, Great Wall Lubricants won a good start. In January, the total sales volume completed the monthly plan of 141%, completing the annual goal of 8%, an increase of 42% year-on-year. Sales of high-end products increased by 30% year-on-year; sales of high-end products increased by 44% year-on-year. International market sales increased by 70% year-on-year.

During the “Eleventh Five-Year Plan” period, domestic lubricant companies developed rapidly. According to the latest data, domestic brands of Lubricants represented by Great Wall and Kunlun currently account for 40% of the high-end market share. In 2000, they accounted for less than 20% of the market share.

After the founding of New China, China's lubricants industry experienced a state-owned monopoly before the opening of oil products. By 1993, it had liberalized its management and lubricants had become one of the few “foreign oil products”. International lubricant companies have taken the lead in China's lubricants market and have established nearly 30 lubricating oil blending plants in China with a total production capacity of more than 900,000 tons. Until today, the high-end market for China's lubricants is still almost monopolized by international brands.

At the same time, various domestic companies, collectives, and individuals have also planned and set up factories. According to incomplete statistics, there were more than 4,000 large and small reconciliation plants and more than 6,000 lubricating oil brands. The Chinese lubricants market was a time of mixed feelings.

In 2003, the Chinese auto industry achieved an “avalanche” type of development. International auto giants entered China one after another. Lubricants for vehicles entered a rare period of development. The domestic lubricants market gradually formed a threefold trend: First, Sinopec and PetroChina. Lubricating oil companies account for nearly 60% of the market share of China's lubricants market with their resources, technology, and brand advantages. Second, they are multinational lubricant companies represented by Shell and ExxonMobil, occupying 80% of its brand's influence. The market share of high-end lubricants; Third, the local private oil companies represented by Unite and Lake, with a flexible management mechanism and gradually awakening brand awareness began to take shape in the market.

Among them, multinational lubricant companies have long dominated the high-end market with their brand advantage, while the high-end market profits are also the most attractive, accounting for 80% of total market profits. With the advent of the automobile era, the rapid growth of China's automobile demand, the rapid expansion of the high-end lubricants market, the domestic lubricant companies are unwilling to stay in the low-end market, in order to maintain a stable low-end market advantages in resources At the same time, it began to work hard to build a brand image and strengthen communication with OEMs in order to obtain cooperation opportunities and thus to enter the high-end market.

In the past 10 years, global lube oil production and consumption have been growing at a low rate, with an average annual growth rate of 1.4%. However, since 2000, China's lubricant consumption has increased by 50%, with an average annual growth rate of 5.2%.

Since the outbreak of the financial crisis in the second half of 2008, the lube oil market in Europe and the United States and other developed countries and regions has been in a downturn. However, in the current year, China’s lubricant consumption reached 5.62 million tons, an increase of 4.3% over the previous year. One of the many markets that maintain growth.

It was also in this year that China became the second largest consumer of finished lubricants in the world after the United States. According to Flowserve's forecast, China is expected to surpass the United States in 2020 and become the world's largest consumer of lubricants.

Today's China has undoubtedly become the focus of oil companies at home and abroad. The production and sales companies in various countries have set foot in full force in an attempt to gain the largest market share in this battle. In this race, where can Chinese local companies go? Which companies will eventually come to the fore?

Three legs

- Difficult rise of local companies

At the beginning of the new year, Great Wall Lubricants won a good start. In January, the total sales volume completed the monthly plan of 141%, completing the annual goal of 8%, an increase of 42% year-on-year. Sales of high-end products increased by 30% year-on-year; sales of high-end products increased by 44% year-on-year. International market sales increased by 70% year-on-year.

During the “Eleventh Five-Year Plan” period, domestic lubricant companies developed rapidly. According to the latest data, domestic brands of Lubricants represented by Great Wall and Kunlun currently account for 40% of the high-end market share. In 2000, they accounted for less than 20% of the market share.

After the founding of New China, China's lubricants industry experienced a state-owned monopoly before the opening of oil products. By 1993, it had liberalized its management and lubricants had become one of the few “foreign oil products”. International lubricant companies have taken the lead in China's lubricants market and have established nearly 30 lubricating oil blending plants in China with a total production capacity of more than 900,000 tons. Until today, the high-end market for China's lubricants is still almost monopolized by international brands.

At the same time, various domestic companies, collectives, and individuals have also planned and set up factories. According to incomplete statistics, there were more than 4,000 large and small reconciliation plants and more than 6,000 lubricating oil brands. The Chinese lubricants market was a time of mixed feelings.

In 2003, the Chinese auto industry achieved an “avalanche” type of development. International auto giants entered China one after another. Lubricants for vehicles entered a rare period of development. The domestic lubricants market gradually formed a threefold trend: First, Sinopec and PetroChina. Lubricating oil companies account for nearly 60% of the market share of China's lubricants market with their resources, technology, and brand advantages. Second, they are multinational lubricant companies represented by Shell and ExxonMobil, occupying 80% of its brand's influence. The market share of high-end lubricants; Third, the local private oil companies represented by Unite and Lake, with a flexible management mechanism and gradually awakening brand awareness began to take shape in the market.

Among them, multinational lubricant companies have long dominated the high-end market with their brand advantage, while the high-end market profits are also the most attractive, accounting for 80% of total market profits. With the advent of the automobile era, the rapid growth of China's automobile demand, the rapid expansion of the high-end lubricants market, the domestic lubricant companies are unwilling to stay in the low-end market, in order to maintain a stable low-end market advantages in resources At the same time, it began to work hard to build a brand image and strengthen communication with OEMs in order to obtain cooperation opportunities and thus to enter the high-end market.

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