Low viscosity grades predicted to corner 7% of global PCMO market by 2023
Low viscosity engine oils are destined to account for more than 7% of total global passenger car motor oils (PCMO) by 2023, according to U.S.-based consulting firm Kline & Company. Currently, SAE 0W-XX viscosity grade makes up less than 5% of that market. This would mean a growth of more than two percentage points over a nine-year period and will mean a rise in the use of synthetic base oils in future PCMO lubricant formulations.
Combined with 5W-XX, this viscosity grade accounts for about 40% of the finished lubricant market in 2014, according to Kline’s latest Global Lubricants: Market Analysis and Assessment report.
“The continuing global migration to lower viscosity grade PCMO will result in higher penetration of synthetics, semi-synthetics, higher revenues, and, conversely, longer oil drain intervals and suppressed overall PCMO growth,” the company said.
Increasing demand for lower viscosity PCMO is driven by its ability to improve fuel economy. Original equipment manufacturers (OEMs) are increasingly recommending these oils for their factory fill and service fill requirements.
Additionally, the ILSAC GF-6 PCMO specification upgrade planned in 2017-18 will create technical demand for these lower viscosity grade products. One of the major experts and contributors for the upcoming GF-6 specification upgrade is Teri Kowalski, senior principal engineer for Toyota in the Vehicle Research & Certification Engineering Department located in Ann Arbor, Michigan, U.S.A. and Automotive Chairperson of the Auto-Oil Advisory Panel (AOAP). Kowalksi will provide an update on ILSAC GF-6 at the upcoming industry gathering F+L (Fuels + Lubes) Week on 12 March 2015 in Singapore. Everyone around the planet connected to the internet will nevertheless be able to listen to this pivotal technical update on GF-6, as, in an industry first, her presentation will also be broadcast live globally via webinar (more information at www.fltestmig.oiltrends.asia/conference/webinar).