Understanding the Lubricant Market in Australia
The Australian Lubricant market hit a whopping 1.2 billion by the end of the last quarter in 2019. It is a huge industry and is predicted to reach 1.4 billion by 2023, according to Mordor Intelligence, 2018. Australia has consumed 458 Mega Liters of lubricating oil in 2018-2019 from various industries. The major market users are industrial and mining companies, main producers, the automotive industry and transport companies. It is estimated that nearly 85 per cent of lubricating oil sales are accounted for by these commercial users (Australian Institute of Petroleum, 2019)
You have most likely heard big names in the lubricant market such as BP Australia, ExxonMobil, Puma, Caltex, Valvoline & Penrite. While Sinopec Lubricants is a huge international company, the second biggest in the world by revenue (Forbs, 2019) it is little known in Australia as a brand. International Lubricant Distributors (ILD) is the exclusive supplier of Sinopec and it is through this Australian company supplying to some major players that Sinopec is increasing its recognition as a premium lubricant brand.
The Lubricant market is often broken up into the following industries;
- Chemical manufacturing
- Food processing
- Hydraulic equipment
ILD, partnered with Sinopec, already has a strong foot in the mining and transport segments supplying many premier blue-chip companies. With its recent launch of the online website (www.sinopeconline.com) ILD predicts that Sinopec Lubricants will rapidly grow in other industries, particularly automotive, as the brand becomes increasingly available to the public.