China is expected to overtake U.S. as the world's largest lubricant market by 2020

Recently, the "12th China International Lubricants and Application Technology Exhibition" was held in Beijing and attracted nearly 120 lubricants and grease companies and brands such as Great Wall, Shell and Meifu to participate in the exhibition.

It is understood that China's lubricants market has become the world's second largest lubricants market, and with the steady growth of domestic lubrication demand, it is expected to surpass the United States to become the world's largest lubricants market by 2020, which is a must for domestic and foreign lubricant companies. In a hurry, international lubricant companies are accelerating their entry into the Chinese market and promoting the upgrading of the domestic lubricants market.

Industry experts pointed out that China's lubricant oil consumption just needs to expand is an opportunity for oil companies, but at the same time it is also facing the shrinking profit margins of lubricants, the dynamic evolution of related industry technologies, the fierce competition in the market and the trend of low-carbon energy Challenges such as high performance requirements. Song Yunchang, general manager of Sinopec Lubricants Co., Ltd., said at the “China International Lubricants Industry Development Summit Forum” at this year’s show: “Industry chain competition has become the focus of competition in the lubricants market. While companies strictly control quality, they cannot Ignoring brand building and investment in R&D, the influence of the brand and the control of technology are directly related to the success or failure of the company in future competition."

Applications

Engine Heat Exchanger,Industrial Hydraulics Heat Exchanger,Earth-Moving Machinery Heat Exchanger,Compressor Heat Exchanger

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