RUSSIAN CONSUMPTION ON THE GROW
February 12, 2015 at 4:00 PM
Russia’s automotive lubricants consumption is poised to grow by around 3% annually, reaching as much as 563,000 tons in 2020, according to a recent study.
The findings have been published via the RPI’s ‘Actual Consumption of Engine Oils by the Russian Vehicle Fleet and Forecast for Its Development until 2020’. It found that national consumption was 455,000 tons in 2013, with the modest growth expected to continue into the next decade.
The main growth drivers are expected to be the expansion and changing mix of Russia’s vehicle fleet, as well as execution of a number of infrastructure and developmental projects. The need for synthetic and semisynthetic lubricants in particular is expected to rise, following the upward trend of the last few years.
The passenger car lubricant market is predicted to show the largest growth, increasing by 4.5% year-on-year. Elsewhere, the demand growth rate for light commercial vehicles, heavy-duty vehicles and buses could reach as much as 2%.
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