Latin American lubricants market to reach 900 mm gal in 1999

Nov 15, 1999 01:00 AM

Consumption of finished lubricants in Latin America is on track to reach close to 900 mm gal in 1999. Mercosur-comprising the member countries Brazil, Argentina, Uruguay, and Paraguay, and the associated countries of Chile and Bolivia-leads in demand for lubricants in Latin America, according to Kline & Company, Inc., a New Jersey-based management consulting firm. The Mercosur trade region accounts for close to 55 % of total Latin American demand.
"By far the largest lubricant market within Mercosur, in fact in all of Latin America, is Brazil. Brazil accounts for close to 70 % of the Mercosur's total," notes Thomas F. Glenn, business manager at Kline. Petrobras remains very strong and maintains nearly a 20 % share of the finished lubricant market. Texaco's share is estimated to be even higher at close to 23 %. Other big marketers in Brazil are Shell and Ipiranga.
Argentina and Mexico are also large and important markets for finished lubricants in South America. Mexico alone accounts for close to 200 mm gal in 1998, or roughly 23 % of the total.
Glenn notes, however, that the "real story is not the volume of lubricants consumed in the region, rather, it's the value and the emerging business opportunities that are of greatest interest."
Glenn also notes that business opportunities in the region are emerging as a result of geographic shifts in manufacturing. One example of these shifts is the increase in the automotive manufacturing sector in Mexico.

Source: Kline & Company, Inc.
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