While the Lubricant Oil Manufacturing industry experienced financial hardships postrecession, and suffered revenue contractions over the past five years, the industry shows signs of turning around and experiencing growth moving forward. The industry's troubles over the past five years can primarily be attributed to the significant tumble in the price of crude oil, a crucial input for industry products. The volatile, decreasing price of crude oil hindered industry revenue, reducing demand and tempering the price operators could charge for industry products. Looking ahead, the industry is expected to show growth in the five years to 2022, as the price of crude oil is expected to both rise and stabilize over the period, in conjunction with other beneficial factors, including rising levels of disposable income and an expected increase in demand from the automotive and industrial sectors for lubricant. Furthermore, the continued development and proliferation of new, environmentally friendly industry products is expected help support the industry in the future by appealing to eco-conscious consumers.
Operators in this industry manufacture petroleum products (except for asphalt-paving, roofing and saturated materials), such as blended motor oils, brake fluids, lubricating grease and other oil-based additives. Key buyers include downstream automobile manufacturers, wholesalers and automotive retail chains.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.