European automotive strength could prove particularly lucrative for independent producers.
New figures from Transparency Market Research claims a flourishing automotive industry will continue to support global independent lubes producers. By 2019 the global market for independents is set to reach almost $8.5bn, with bio-fuel and specialist technical assistance also helping their cause.
According to the report, Fuchs continues to lead top the table of producers who often source their base oil from major refiners, before creating high quality, specialist finished products. Other big players in the market includes Carlube, Motul, Amsoil and Red Line.
Europe was highlighted as a particularly lucrative market as the base of some of the world's largest OEMs, a fact supported by the latest UK manufacturing stats. Car makers including Audi, BMW, Mercedes and Porsche have all signed lubes deals with independent lubes producers.
While Transparency noted that increased demand the mining, steel and agricultural industries will also help to drive sales for the specialist producers, the cost of raw materials may hinder longer-term production and markets for bio-lubes.