Some synthetic lube markets on a growth curve

Cleveland, OH — US demand for synthetic lubricants and functional fluids will expand more than 3% per year to $4.8 billion in 2013, with growth rising at an even faster pace in volume terms to reach 520 million gallons, according to a new study by The Freedonia Group.

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 markets.

While engine oils and hydraulic and transmission fluids will achieve relatively strong growth going forward, other types of synthetic lubricants and fluids are expected to realize a slow decline in demand through 2013, largely as a result of falling average fluid prices.

From a product standpoint, the greatest declines will be in heat transfer and metalworking fluids. Synthetic metalworking fluid demand will suffer from increasing substitution of bio-based fluids for synthetics.

These and other trends are presented in Synthetic Lubricants & Functional Fluids, a $4,700 (US) study. For more information, visit www.freedoniagroup.com.