World demand for lubricants will rise 2.6 percent annually through 2015. Asia will remain the fastest growing region, followed by the Africa/Mideast region and Central/South America. Manufacturing and other markets will outpace the motor vehicle aftermarket. Hydraulic fluids and process oils will be the fastest growing products.

This study analyzes the 37 million metric ton world lubricant industry. It presents historical demand data for the years 2000, 2005 and 2010, and forecasts for 2015 and 2020 by formulation (e.g., petroleum, synthetic, re-refined), product (e.g., engine oils, process oils, hydraulic fluids, metalworking fluids), market (e.g., motor vehicle aftermarket, manufacturing), world region and for 31 countries.

The study also considers market environment factors, details industry structure, evaluates company market share and profiles 35 industry players, including Shell, Exxon Mobil and BP.

				    TABLE OF CONTENTS

     SECTION									    PAGE

		INTRODUCTION							     xii

	I.	EXECUTIVE SUMMARY						       1

	II.	MARKET ENVIRONMENT						       4
		General								       4
		World Population Outlook					       4
		World Economic Outlook						       6
		   Recent Economic Performance					       7
		   Macroeconomic Outlook					       8
		World Manufacturing Outlook					      12
		World Fixed Investment Overview					      14
		World Motor Vehicle Outlook					      15
		   World Motor Vehicle Park					      16
		   World Motor Vehicle Production				      17
		   World Hybrid & Electric Vehicle Outlook			      20
		Motor Vehicle Design Technology					      23
		   Gasoline Engines						      24
		   Diesel Engines						      26
		   Alternative Fuel Technologies				      28
		World Oil Industry Outlook					      29
		   World Crude Oil & Natural Gas Production			      30
		   World Refined Petroleum Products Production			      32
		Environmental & Regulatory Trends				      35
		Lubricant Standards & Testing					      37

	III.	OVERVIEW							      39
		General								      39
		World Lubricant Demand by Region				      40
		World Lubricant Demand by Formulation				      46
		   Petroleum Lubricants						      47
		   Nonconventional Lubricants					      49
		      Synthetic Lubricants					      51
		      Re-Refined Lubricants					      52
		      Vegetable-Based Lubricants				      54
		World Lubricant Demand by Product				      55
		   Engine Oils							      56
		   Process Oils							      59
		   Hydraulic Fluids						      61
		   Metalworking Fluids						      63
		   Other Lubricants						      67
		World Lubricant Demand by Market				      69
		   Motor Vehicle Aftermarket					      71
		   Manufacturing						      75
		   Other							      77
		World Base Oil Trends						      79
		Lubricant Production & Trade					      83

	IV.	NORTH AMERICA							      85
		Economic Overview						      85
		Markets & Products						      87
		Market Share							      90
		United States							      92
		Canada								     101
		Mexico								     111

	V.	WESTERN EUROPE							     120
		Economic Overview						     120
		Markets & Products						     122
		Market Share							     125
		Germany								     126
		France								     135
		Italy								     143
		United Kingdom							     152
		Spain								     161
		Other Western Europe						     169
		   Netherlands							     175
		   Belgium							     176
		   All Other Western Europe					     176

	VI.	ASIA/PACIFIC							     177
		Economic Overview						     177
		Markets & Products						     180
		Asia/Pacific Market Share					     182
		China								     184
		Japan								     195
		India								     203
		South Korea							     212
		Indonesia							     220
		Thailand							     228
		Australia							     236
		Taiwan								     244
		Other Asia/Pacific						     251
		   Malaysia							     257
		   Philippines							     258
		   All Other Asia/Pacific					     259

	VII.	OTHER REGIONS							     260
		Central & South America						     260
		   Economic Overview						     260
		   Markets & Products						     262
		   Market Share							     264
		   Brazil							     266
		   Other Central & South America				     274
		      Argentina							     279
		      Venezuela							     280
		      All Other Central & South America				     281
		Eastern Europe							     282
		   Economic Overview						     282
		   Markets & Products						     284
		   Market Share							     286
		   Russia							     288
		   Poland							     296
		   Other Eastern Europe						     302
		      Ukraine							     308
		      All Other Eastern Europe					     308
		Africa/Mideast							     309
		   Economic Overview						     309
		   Markets & Products						     312
		   Market Share							     314
		   Iran								     316
		   Egypt							     323
		   Turkey							     328
		   Saudi Arabia							     335
		   Other Africa/Mideast						     341
		      South Africa						     346
		      All Other Africa/Mideast					     347

	VIII.	INDUSTRY STRUCTURE						     348
		General								     348
		Industry Composition						     349
		Lubricant Market Share						     351
		Competitive Strategies						     355
		Merger & Acquisition Activity					     357
		Strategic Partnerships						     362
		Refining & Blending						     368
		Marketing & Distribution					     370
		Company Profiles						     372
		   Air BP, see BP
		   American Agip, See Eni
		   Anderol Specialty Lubricants, see Chemtura
		   Anji Jiffy Lube Automotive Services, see Royal Dutch Shell
		   Aral, see BP
		   Ashland Incorporated						     373
		   BP plc							     378
		   Burmah Castrol, see BP
		   Castrol India, see BP
		   Chemtura Corporation						     386
		   Chevron Corporation						     389
		   China National Petroleum Corporation				     396
		   China Petroleum & Chemical Corporation			     398
		   Chinese Petroleum Corporation				     400
		   CITGO Petroleum, see Petroleos de Venezuela
		   ConocoPhillips						     401
		   Dylon Industries, see FUCHS Petrolub
		   Emarat, see Emirates General Petroleum
		   Emirates General Petroleum Corporation			     406
		   Engen Petroleum Limited					     407
		   Eni SpA							     409
		   Excel Paralubes, see ConocoPhillips
		   Exxon Mobil Corporation					     412
		   FUCHS Petrolub AG						     419
		   GS Caltex, see Chevron
		   Hatco, see Chemtura
		   Hovensa, see Petroleos de Venezuela
		   Idemitsu Kosan Company Limited				     424
		   Imperial Oil, see Exxon Mobil
		   Indian Oil Corporation Limited				     426
		   JX Holdings Incorporated					     428
		   Lukoil Oil Company						     431
		   Mexicana De Lubricantes, see Petroleos Mexicanos
		   Motiva Enterprises, see Royal Dutch Shell
		   Nippon Oil, see JX Holdings
		   Novo-Ufa Oil Refinery, see OAO Novoil
		   Nynas, see Petroleos de Venezuela
		   OAO NGK Slavneft						     434
		   OAO NK RussNeft						     435
		   OAO Novoil							     436
		   OAO Rosneft							     437
		   OMV AG							     438
		   PEMEX, see Petroleos Mexicanos
		   Pertamina, see Perusahaan Pertambangan Minyak Dan Gas Bumi Negara
		   Perusahaan Pertambangan Minyak Dan Gas Bumi Negara		     441
		   Petro-Canada, see Suncor Energy
		   Petrobas, see Petroleo Brasileiro
		   PetroChina Lubricant, see China National Petroleum
		   Petrol Ofisi, see OMV
		   Petroleo Brasileiro SA					     443
		   Petroleos de Venezuela SA					     446
		   Petroleos Mexicanos SA					     449
		   Petroliam Nasional Berhad					     451
		   Petromin Corporation						     454
		   PETRONAS Lubricants International Sdn Bhd, see 
		      Petroliam Nasional Berhad
		   Repsol YPF SA						     455
		   Royal Dutch Shell plc					     457
		   Ruhr Oel, see BP
		   Shell Lubricants, see Royal Dutch Shell
		   Sinopec Lubricant, see China Petroleum & Chemical
		   SK Innovation Company Limited				     466
		   Suncor Energy Incorporated					     469
		   TNK-BP, see BP
		   Total SA							     472
		   Ukrtatnafta AB						     478
		   Valvoline, see Ashland
		   Yushiro Chemical Industry Company Limited			     479
		Other Companies Mentioned in the Study				     481


				      LIST OF TABLES

    TABLE NUMBER								    PAGE


		SECTION I -- EXECUTIVE SUMMARY
		Summary Table							       3

		SECTION II -- MARKET ENVIRONMENT
	1	World Population by Region					       6
	2	World Gross Domestic Product by Region				      12
	3	World Manufacturing Value Added by Region			      13
	4	World Gross Fixed Capital Formation by Region			      15
	5	World Motor Vehicle Park by Region				      17
	6	World Motor Vehicle Production by Region			      20
	7	World Hybrid & Electric Light Vehicle Demand by Region		      23
	8	World Crude Oil & Natural Gas Production by Region		      32
	9	World Refined Petroleum Product Production by Region		      34

		SECTION III -- OVERVIEW
	1	World Lubricant Demand by Region				      43
	2	World Lubricant Demand by Formulation				      47
	3	World Petroleum Lubricant Demand by Region			      49
	4	World Nonconventional Lubricant Demand by Region		      50
	5	World Lubricant Demand by Product				      55
	6	World Engine Oil Demand by Region				      58
	7	World Process Oil Demand by Region				      61
	8	World Hydraulic Fluid Demand by Region				      63
	9	World Metalworking Fluid Demand by Region			      66
	10	World Other Lubricants Demand by Region				      69
	11	World Lubricant Demand by Market				      70
	12	World Motor Vehicle Aftermarket Lubricant Demand		      74
	13	World Manufacturing Lubricant Demand				      77
	14	World Other Lubricant Markets Demand				      79
	15	World Base Oil Demand						      82

		SECTION IV -- NORTH AMERICA
	1	North America:  Macroeconomic Indicators for Lubricants		      87
	2	North America:  Lubricant Demand				      90
	3	United States:  Macroeconomic Indicators for Lubricants		      94
	4	United States:  Lubricant Demand by Market			      97
	5	United States:  Lubricant Demand by Product & Formulation	     100
	6	Canada:  Macroeconomic Indicators for Lubricants		     104
	7	Canada:  Lubricant Demand by Market				     107
	8	Canada:  Lubricant Demand by Product & Formulation		     110
	9	Mexico:  Macroeconomic Indicators for Lubricants		     114
	10	Mexico:  Lubricant Demand by Market				     116
	11	Mexico:  Lubricant Demand by Product & Formulation		     118

		SECTION V -- WESTERN EUROPE
	1	Western Europe:  Macroeconomic Indicators for Lubricants	     122
	2	Western Europe:  Lubricant Demand				     124
	3	Germany:  Macroeconomic Indicators for Lubricants		     128
	4	Germany:  Lubricant Demand by Market				     131
	5	Germany:  Lubricant Demand by Product & Formulation		     134
	6	France:  Macroeconomic Indicators for Lubricants		     137
	7	France:  Lubricant Demand by Market				     139
	8	France:  Lubricant Demand by Product & Formulation		     142
	9	Italy:  Macroeconomic Indicators for Lubricants			     145
	10	Italy:  Lubricant Demand by Market				     148
	11	Italy:  Lubricant Demand by Product & Formulation		     151
	12	United Kingdom:  Macroeconomic Indicators for Lubricants	     154
	13	United Kingdom:  Lubricant Demand by Market			     157
	14	United Kingdom:  Lubricant Demand 
		   by Product & Formulation					     160
	15	Spain:  Macroeconomic Indicators for Lubricants			     163
	16	Spain:  Lubricant Demand by Market				     165
	17	Spain:  Lubricant Demand by Product & Formulation		     168
	18	Other Western Europe:  Macroeconomic Indicators 
		   for Lubricants						     171
	19	Other Western Europe:  Lubricant Demand				     174
	20	Other Western Europe:  Lubricant Demand by Country		     175

		SECTION VI -- ASIA/PACIFIC
	1	Asia/Pacific:  Macroeconomic Indicators for Lubricants		     179
	2	Asia/Pacific:  Lubricant Demand					     182
	3	China:  Macroeconomic Indicators for Lubricants			     187
	4	China:  Lubricant Demand by Market				     190
	5	China:  Lubricant Demand by Product & Formulation		     194
	6	Japan:  Macroeconomic Indicators for Lubricants			     198
	7	Japan:  Lubricant Demand by Market				     200
	8	Japan:  Lubricant Demand by Product & Formulation		     202
	9	India:  Macroeconomic Indicators for Lubricants			     206
	10	India:  Lubricant Demand by Market				     208
	11	India:  Lubricant Demand by Product & Formulation		     211
	12	South Korea:  Macroeconomic Indicators for Lubricants		     214
	13	South Korea:  Lubricant Demand by Market			     216
	14	South Korea:  Lubricant Demand by Product & Formulation		     219
	15	Indonesia:  Macroeconomic Indicators for Lubricants		     222
	16	Indonesia:  Lubricant Demand by Market				     224
	17	Indonesia:  Lubricant Demand by Product & Formulation		     227
	18	Thailand:  Macroeconomic Indicators for Lubricants		     231
	19	Thailand:  Lubricant Demand by Market				     233
	20	Thailand:  Lubricant Demand by Product & Formulation		     235
	21	Australia:  Macroeconomic Indicators for Lubricants		     238
	22	Australia:  Lubricant Demand by Market				     241
	23	Australia:  Lubricant Demand by Product & Formulation		     243
	24	Taiwan:  Macroeconomic Indicators for Lubricants		     246
	25	Taiwan:  Lubricant Demand by Market				     248
	26	Taiwan:  Lubricant Demand by Product & Formulation		     250
	27	Other Asia/Pacific:  Macroeconomic Indicators for Lubricants	     253
	28	Other Asia/Pacific:  Lubricant Demand				     256
	29	Other Asia/Pacific:  Lubricant Demand by Country		     257

		SECTION VII -- OTHER REGIONS
	1	Central & South America:  Macroeconomic Indicators 
		   for Lubricants						     262
	2	Central & South America:  Lubricant Demand			     264
	3	Brazil:  Macroeconomic Indicators for Lubricants		     268
	4	Brazil:  Lubricant Demand by Market				     270
	5	Brazil:  Lubricant Demand by Product & Formulation		     273
	6	Other Central & South America:  Macroeconomic Indicators 
		   for Lubricants						     276
	7	Other Central & South America:  Lubricant Demand		     278
	8	Other Central & South America:  Lubricant Demand 
		   by Country							     279
	9	Eastern Europe:  Macroeconomic Indicators for Lubricants	     284
	10	Eastern Europe:  Lubricant Demand				     286
	11	Russia:  Macroeconomic Indicators for Lubricants		     290
	12	Russia:  Lubricant Demand by Market				     292
	13	Russia:  Lubricant Demand by Product & Formulation		     294
	14	Poland:  Macroeconomic Indicators for Lubricants		     298
	15	Poland:  Lubricant Demand by Market				     299
	16	Poland:  Lubricant Demand by Product & Formulation		     301
	17	Other Eastern Europe:  Macroeconomic Indicators 
		   for Lubricants						     304
	18	Other Eastern Europe:  Lubricant Demand				     306
	19	Other Eastern Europe:  Lubricant Demand by Country		     307
	20	Africa/Mideast:  Macroeconomic Indicators for Lubricants	     311
	21	Africa/Mideast:  Lubricant Demand				     314
	22	Iran:  Macroeconomic Indicators for Lubricants			     318
	23	Iran:  Lubricant Demand by Market				     320
	24	Iran:  Lubricant Demand by Product & Formulation		     322
	25	Egypt:  Macroeconomic Indicators for Lubricants			     325
	26	Egypt:  Lubricant Demand by Market				     326
	27	Egypt:  Lubricant Demand by Product & Formulation		     328
	28	Turkey:  Macroeconomic Indicators for Lubricants		     331
	29	Turkey:  Lubricant Demand by Market				     332
	30	Turkey:  Lubricant Demand by Product & Formulation		     334
	31	Saudi Arabia:  Macroeconomic Indicators for Lubricants		     337
	32	Saudi Arabia:  Lubricant Demand by Market			     339
	33	Saudi Arabia:  Lubricant Demand by Product & Formulation	     340
	34	Other Africa/Mideast:  Macroeconomic Indicators 
		   for Lubricants						     343
	35	Other Africa/Mideast:  Lubricant Demand				     345
	36	Other Africa/Mideast:  Lubricant Demand by Country		     346

		SECTION VIII -- INDUSTRY STRUCTURE
	1	World Lubricant Sales by Company, 2010				     350
	2	Selected Acquisitions & Divestitures				     360
	3	Selected Cooperative Agreements					     364

				      LIST OF CHARTS

    CHART NUMBER								    PAGE


		SECTION III -- OVERVIEW
	1	World Lubricant Demand by Region, 2000-2020			      44
	2	Lubricant Demand Per Capita/GDP Per Capita 
		   Relationship, 2010						      45
	3	World Lubricant Demand by Product, 2010				      56
	4	World Lubricant Demand by Market, 2010				      71
	5	World Share of Base Oil Demand by Type, 2000-2020		      83

		SECTION IV -- NORTH AMERICA
	1	North America:  Lubricant Market Share by Company, 2010		      91

		SECTION V -- WESTERN EUROPE
	1	Western Europe:  Lubricant Market Share by Company, 2010	     126

		SECTION VI -- ASIA/PACIFIC
	1	Asia/Pacific:  Lubricant Market Share by Company, 2010		     184

		SECTION VII -- OTHER REGIONS
	1	Central & South America:  Lubricant Market Share 
		   by Company, 2010						     266
	2	Eastern Europe:  Lubricant Market Share by Company, 2010	     287
	3	Africa/Mideast:  Lubricant Market Share by Company, 2010	     315

		SECTION VIII -- INDUSTRY STRUCTURE
	1	World Lubricant Market Share by Company, 2010			     352