According to worldwide consulting and research firm Kline, the demand for finished lubricants in the UK is currently on an upswing.
At present, Europe is the third biggest region for finished lubricants, accounting for around 17% of global demand, and five of the region’s lubricant markets account for two-thirds of that 17%. However, the bulk of demand in the region comes from Russia, Germany and the UK, which make up 50% of the EU region’s total demand for finished lubricants like Mobil Delvac SGO 75W90.
Although the other European lubricant markets remain flat, demand from the UK, which is currently the third largest consumer of finished lubricants in the region, is on the rise. It is thought that a number of factors are responsible for the upswing, according to the Global Lubricants: Market Analysis and Assessment report, which was recently published by Kline.
The report predicts that the UK market is currently stable and that it is likely to increase at an annual growth rate of 1% between now and 2019.
The report also reveals that the need for passenger car motor oil in the UK makes up 84% of demand in the consumer automotive segment.
The UK, according to the report, is also seeing a migration to PCMO of a lower viscosity grade, which is resulting in higher market penetration of synthetic and semi-synthetic lubricants.
The fact that UK factories are switching to lower viscosity grades in order to improve fuel economy is also thought to be a factor in the upswing.