Marginal increase forecast in North American lubricant market
Although it is estimated that there will be a 3% increase in tonnage carried by private fleet operators in the US through 2016, this is expected to translate to a marginal increase in commercial lubricant consumption according to a new lubricants study from Kline and Company. On-highway activity saw a surge in the latter half of 2010 that continued well into 2011. Similarly, the lackluster performance of the construction industry between 2008 and 2010 has begun to show signs of a rebound. However, increased service implementation of longer drain interval oils due to a higher penetration of synthetics, growth in oil analysis practices, and an overall increase in commercial vehicles mechanical efficiency, mean that commercial lubricant consumption is expected to fractionally increase by a compound annual growth rate of just 0.4% to 1.0% to 2016.