Research and Markets: Vehicle Lubricants 2011 - Greece - Analysis of the Domestic Market

DUBLIN--October 13, 2011: Research and Markets has announced the addition of ICAP Group's new report "Vehicle Lubricants 2011 - Greece" to their offering.

Study conducted by ICAP Group considers the domestic market of lubricants for wheeled vehicles which are mostly used in engines but also on gear boxes, transmission systems and others.

The key characteristic of this market is the shrinking consumption (in volume), due to the fact that lubricants in several vehicle categories need to be changed less often. These products are essential for vehicles as they grease and protect them from wears, contribute to freezing points which the cooling system of the vehicle cannot freeze, keep the car engine clean and eliminate any harmful acids and pollutants.

In general, the changes which have taken place over the last few years in the sector of oil industries (mergers, acquisitions etc.) have affected the market of lubricants as well. Thus, some brand names were recalled or taken over by other companies, leading to rearrangements in the market.

The demand for lubricants is shaped to a great extent by the evolution of the circulating vehicle fleet as well as by the number of kilometers made by a vehicle. An important number of businesses operate in the sector of lubricants for wheeled vehicles (manufacturing/blending companies, importers) which belong to different size categories (from individual companies to multinational petroleum giants).

The overall domestic market of vehicle lubricants (in quantity) has been declining during the last decade. The market of vehicle lubricants in Greece is considered mature with a declining trend due to the new type of motor engines which demand greasing more rarely. Although the fleet of circulating vehicles has been on the rise, (however, it has been increasing at slower rates over the last few years as the vehicle market has been negatively affected by the economic crisis), their improved quality leads to a limited use of lubricants. It is pointed out that, new technology vehicles (passenger and professional vehicles with gasoline or diesel engines) which more and more rarely need oil change, require high technology lubricants (semi-synthetic or synthetic), that are more expensive.

Key Topics Covered:

1. Introduction - General Characteristics of the Sector

2. The Demand for Vehicle Lubricants

3. The Supply of Vehicle Lubricants

4. The Market of Vehicle Lubricants

5. The International Market of Vehicle Lubricants

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