Automotive Fluids & Chemicals Market: Trends And Growth Analysis Report By Radiant Insights, Inc
Aug 23, 2016
The automotive fluids & chemicals market in China is on the verge of attain major gains during the forecast period (2013-2018). Demand for transmission fluids and engine oils for commercial and non-commercial vehicles are primarily driving the market.
San Francisco, United States - August 23, 2016 /MarketersMedia/ —
The automotive fluids & chemicals market in China is on the verge of attain major gains during the forecast period (2013-2018). Demand for transmission fluids and engine oils for commercial and non-commercial vehicles are primarily driving the market. The market growth will be facilitated by the burgeoning sales of passenger and commercial vehicles.
The Chinese market is segmented according to products, end-users, and regions. Products encompass motor oil, transmission oils, brake fluids, automotive lubes, antifreeze and coolant, fuel & oil additives, and other chemicals. Automotive lubes, brake fluids, and motor oil have occupied major shares of the market. Availability of cheap cars and low labor costs can be a major contributor towards the segment’s growth. BASF has launched a brake fluid exclusively for the Chinese market in an attempt to gain an edge over its competitors.
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Major end-users of the market are mini buses, mini-trucks, passenger cars, trucks, heavy-duty trucks, heavy/large buses, jeeps, and other vehicles. Light trucks and passenger cars form a major share of the market revenue, in lieu of increasing sales of these vehicles. Regions comprise of North China, South China, East China, and West China. Many major companies have settled in Guangdong, one of the premier locations which hosts industrial complexes. Lubrizol, PetroChina, and Sinopec are few companies which have set up base in this region.
Prominent vendors operating in the automotive fluids & chemicals market in China are Sinopec Lubricant Company, FUCHS Lubricants (China) Co., Ltd., Chematell Group, AcWei Limited, and Lubrizol Specialty Chemicals (Shanghai) Co., Ltd. Players can adhere to the regulations in the region as well as come up with innovative strategies to capture the market in two and three tier cities. Sinopec and BASF have collaborated on a partnership to build state-of-the art lubricating plants to cater to the growing consumer base.
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About Radiant Insights,Inc
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