Bharatbook added a new report on "Synthetic Lubricants & Functional Fluids" which gives the growth of Synthetic Lubricants & Functional Fluids market.
Online PR News – 20-March-2010 – – Synthetic Lubricants & Functional Fluids
US demand to grow more than 3% yearly through 2013
US demand for synthetic lubricants and functional fluids will rise more than three percent per year to $4.8 billion in 2013, with growth rising at an even faster pace in volume terms to reach 520 million gallons. Engine oils and hydraulic and transmission fluids will experience the fastest gains as synthetics finally begin to penetrate the conservative medium- and heavy-duty truck market, and as greater new vehicle lubricant performance requirements and growing consumer acceptance further expand synthetics’ share of the light vehicle market. While engine oils and hydraulic and transmission fluids will achieve relatively strong growth going forward, other types of synthetic fluids are expected to see a slow decline in demand through 2013, largely as a result of declining average fluid prices. ( http://www.bharatbook.com/detail.asp?id=132999&rt=Synthetic-Lubricants-Functional-Fluids.html )
Medium-, heavy-duty truck market to see fastest gains
The largest market for synthetic lubricants and functional fluids is light vehicles. This reflects not only consumer uptake of engine oils and transmission fluids, but also the universally synthetic nature of antifreeze, brake and deicing (windshield wiper) fluids. Synthetic fluid demand in light vehicles will continue to grow due both to increasing lubricant performance requirements, and growing consumer acceptance of synthetics as a valuable part of their preventative maintenance programs. Despite gains by synthetics in engine oils and transmission fluids, long term industry trends toward extended engine coolant flush intervals, and the use of fill-for-life radiator and coolant systems, will result in a continuing decline in antifreeze volume demand.
The fastest growing market for synthetic fluids will be the medium- and heavyduty truck market. Increasingly stringent engine specifications, as well as a move by many engine manufacturers to specify low viscosity engine oils for their 2010 emissions-compliant engines, will finally lead many fleet operators to evaluate and use synthetic engine oils and hydraulic and transmission fluids. Synthetics will benefit from their better performance under load in low viscosity formulations, as well as from the reduced maintenance and downtime costs that result from synthetics’ extended drain intervals. The latter will be increasingly important to fleet operators looking to cut costs as a result of the 2008/2009 recession, and subsequent slow recovery.
Group III oils, polyalphaolefins to be fastest growing types Reflecting their heavy use in engine oils and hydraulic and transmission fluids, Group III base oils and polyalphaolefins will be the fastest growing synthetic chemicals, with esters also achieving positive value growth through 2013. Declining average prices will hurt value demand for silicones and aromatics going forward, though demand will remain steady on a volume basis.
From a product standpoint, the greatest declines will be in heat transfer and metalworking fluids. In addition to declining antifreeze demand in vehicle applications, greater use of fill-for-life coolant systems in industrial equipment -- as well as efforts by the Federal Aviation Administration (FAA) to limit the run-off of airplane deicing fluids at airports -- will contribute to falling heat transfer fluid demand. Synthetic metalworking fluid demand will suffer from increasing substitution of bio-based fluids for synthetics, particularly in metal removal applications, to address worker safety concerns related to the inhalation of volatilized metalworking fluids.
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