my country’s automotive lubricant industry chain has been formed and the market size is gradually expanding

Lubricating oil is an oily liquid that is applied to the surface of moving parts such as machinery and bearings. It can reduce friction between the surfaces of moving parts and play the roles of anti-corrosion, sealing, cooling, insulation, and cleaning of impurities. According to different uses, lubricants can be divided into process lubricants, automotive lubricants, industrial lubricants, etc., among which automotive lubricants are the largest application field. Automotive lubricants help keep your car’s engine in good working order.

At present, my country has formed a complete automotive lubricant industry chain. The upstream of the industrial chain is mainly the raw material industry, providing base oil, lubricant additives and other raw materials; the midstream is mainly the automotive lubricant production industry, responsible for the production and manufacturing of various types of automotive lubricants; the downstream is mainly oriented to application fields, automotive lubrication The oil is mainly used in the automotive sector.

At this stage, my country’s per capita income level continues to increase, cars have become one of the means of daily travel for consumers, and the car market is developing rapidly. At present, our country has become the largest producer and consumer of automobiles, and automobile production and sales continue to grow. According to data released by the China Association of Automobile Manufacturers, in 2022, my country’s automobile production and sales will complete 27.021 million units and 26.864 million units respectively, a year-on-year increase of 3.4% and 2.1% respectively. The growth in automobile production and sales has driven the continuous increase in demand for automotive lubricants in my country, and with the rapid development of the new energy vehicle market, the demand for automotive lubricants has further increased.

According to the “In-depth Market Research and Investment Strategy Suggestions Report on Automotive Lubricant Industry 2023-2027” released by the Industrial Research Center, Compared with traditional vehicles, new energy vehicles not only have traditional internal combustion engine power systems, but also add electric motor power systems, which require greater demand for vehicle lubricants. As the penetration rate of my country’s new energy vehicle market gradually increases, it has gradually become the main driving force for the continuous growth of the automotive market, and the market demand for automotive lubricants has gradually increased. Against this background, the scale of my country’s automotive lubricant market is gradually expanding. In 2022, my country’s automotive lubricant market size will be 112.77 billion yuan.

At present, my country’s automotive lubricant market is highly competitive with a large number of companies. Among them, foreign automotive lubricant companies mainly include Shell, ExxonMobil, Castrol, Total, BP, FOSS, etc., and domestic automotive lubricant companies mainly include Uni-President Lubricants, Great Wall, Longpan Technology, and Compton , Kunlun Lubrication, Zhongxun Lubricants, etc. Because foreign automotive lubricant companies started earlier, have strong technical strength, occupy first-mover advantages, and have a high market share. In the early days, domestic automotive lubricant companies were small in scale, had weak independent research and development capabilities, and had relatively single product categories. However, with the gradual rise of my country’s automotive lubricant companies, research and development capabilities have continued to increase, technological levels have gradually improved, product quality has continued to improve, and market competitiveness has gradually increased.

Industry analysts said that in recent years, my country has issued a number of environmental protection policies, and environmental protection requirements have become increasingly strict. my country’s automotive lubricant industry Gradually develop in the direction of energy saving, environmental protection and green. With the continuous advancement of my country’s automotive lubricant production technology, environmentally friendly automotive lubricants have lower costs and better performance than traditional automotive lubricants. High-quality environmentally friendly automotive lubricants have gradually become mainstream.