With the continuous improvement of my country's automobile, equipment and other industrial fields, the domestic industrial lubricant industry has developed rapidly in recent years, with a huge market scale, and great progress in product quality and technical level. In 2022, due to the impact of the epidemic and the reduction of car travel, China's lubricant market consumption fell to 6.37 million tons, a decrease of 3.7% from the previous year.
At present, my country's industrial lubricant market has formed a pattern of joint competition among state-owned enterprises, private enterprises and foreign capital. Lubricant companies competing for the Chinese market can be roughly divided into three echelons: the first echelon is represented by leading foreign lubricant companies such as Shell and Mobil; the second echelon is the two largest companies in China's oil industry, the central enterprises "two barrels of oil" - Sinopec and PetroChina, they have a number of production technologies in the oil production chain, and their lubricant brands Great Wall Lubricant and Kunlun Lubricant are the Chinese lubricant brands with the highest sales; the third echelon includes Compton, Uni-President, Longpan, Gaoke, AVIC Hangte, etc.
Amid intensified competition and declining profits, the lubricant industry is experiencing an intensified reshuffle. Some small manufacturers with weak supply chain risk resistance and low production and management levels are accelerating their exit from the market. The lubricant market is further concentrated on advantageous brands and cost-effective products, with a clear trend of high-end replacing low-end and domestic products replacing imported products.
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