The US lubes industry is continuing its post-recession recovery, with industrial oils and fluids set to benefit domestically and globally.
Metalworking lubes in action Source: Gulf Oil UK |
The latest figures come from the latest reports by global analysts, Kline. In it's first report, Opportunities in Lubricants: North American Market Analysis, Kline states that, with the increase in car and light truck output - forecast to reach 8.5m units by the end of this year - metalworking fluids in particular are set to grow commensurately.
Combined with Kline’s second report, Metalworking Fluids 2010 Global Series: Market Analysis and Opportunities, the overall global outloook for industrial and metalworking fluids looks positive. In the US, growth through to 2015 is forecast at 2%, against a global prediction of 3%. Perhaps unsurprisingly, Asia dominates growth, with a 3.3% annual improvement over the past three years likely to accelerate to 5% by 2015.
The sustained improvement, particularly stimulated by China's continued demand its manufacturing sectors, means the metalworking fluid market is set to return to profit by 2015 for the first time since the recession in 2008/9.