Rapid development of China's lubricants market

During the “Eleventh Five-Year Plan” period, domestic lubricant companies developed rapidly. According to the latest data, domestic brands of lube oil represented by Great Wall and Kunlun currently account for 40% of the high-end market, but in 2000 they accounted for less than 20% of the market share.

During the “Twelfth Five-Year Plan” period, the rigid demand for the lubricants market continued to expand, and the high-end market became the focus of competition, prompting many lubricant companies in China to embark on branded operations. In recent years, the steady growth of China's national economy, especially the increase in car sales, has brought huge room for domestic and foreign lubricant companies to develop. The domestic lubricants market has become a must for international oil companies. At the same time, China's lubricants market is undergoing the test of survival of the fittest and market competition is intensifying.

Analysts of China Petroleum & Chemical Corporation Lubricant Subsidiary believe that from the adjustment and upgrade of product structure to the increasingly clear brand line, and to the diversification and differentiation of marketing methods, the change in the lube market in China in 2010 is contributing to changes. Lead competition to strategy, branding, and marketing. Under such circumstances, how to use its own advantages and adopt flexible methods to achieve resource integration and strategic upgrades to cope with changes in the business environment is a major test for the wisdom of business operators. Under the circumstances of the recovery of the international economy, international lubricants manufacturers such as Shell and Meifu have accelerated the pace of opening up the Chinese market and gradually implemented localization strategies in research, manufacturing, and services. At the same time, huge market demand has also prompted China's oil companies to "go out." At present, Great Wall Lubricant has entered the markets of developed countries such as Australia and New Zealand.

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