The four BRIC countries accounted for over one-quarter of global finished lubricants demand in 2009. According to data from The Impact of the Global Recession on BRIC Countries, the positive outlook for economic and manufacturing activity coupled with a growing and financially strong middle class will have these countries accounting for nearly one-third of global lubricant demand by 2013.
The recession has had a profound impact on the lubricant markets of the BRIC countries. The worst market affected was Russia, which saw lubricant demand falling by as much as 28% in 2009. However, global economic instability has accelerated the shift in lubricant consumption to Asia and Eastern Europe.
In China, India, and Brazil, recovery seems to have started some time in the third quarter of 2009. These countries will emerge from recession quicker and stronger than mature countries such as Germany, the United Kingdom, and the United States, accelerating demand for finished lubricants across both the automotive and industrial market segments.
In terms of overall finished lubricant demand in BRIC in 2009, China is the leading country, accounting for 57% of total demand, followed by India and Russia, each with 15%, and Brazil with 12%. While Brazil may be the smallest market among its BRIC compatriots, its consumer automotive segment accounts for 30% of its total demand, the highest among all the BRIC countries.
According to George Morvey, Project Manager, Energy, “the Kline BRIC FlashPoint report is an excellent tool for all participants in the lubricant supply chain whether they are long time established players or potential new entrants needing a comprehensive and timely assessment of the market size, its potential, and opportunities.”
A Kline exclusive, The Impact of the Global Recession on BRIC Countries examines the economic recession in the United States and its effects on developing BRIC economies, as well as its further effects on demand for finished lubricants across the automotive and industrial segments. The report provides Kline’s perspective on market and demand trends critical for a lubricant supplier to understand in order to maximize its opportunities in these key countries.
For more information about Kline’s The Impact of the Global Recession on BRIC Countries visit /reports/f0903