Peruvian Grupo Primax says synthetic lubricants will make up 20% of automotive lubricant sales within five years
The growing number of vehicles in Peru augurs well for the lubricants business, according to Nexo Lubricantes, which should grow by between 4% and 5% in 2015. Nexo Lubricantes is a company of the Romero Group, a subsidiary of Grupo Primax, whose main line of business is marketing Shell-branded lubricants and greases. Currently, Grupo Primax accounts for 31% of the domestic lubricants market. It aims to increase its lubricants market share in Peru by 1%.
In about five years, it estimates that sales of synthetic lubricants will account for 20% of vehicle lubricant sales, compared to 6% presently. Peru is ranked second in the region in terms of growth in synthetic lubricants’ use and fourth in relation to volume sales.
The Peruvian lubricant market is currently valued at about USD300 million.