Now, with the continuous improvement of China‘s mechanization level, the development of the lubricating oil industry is also rising. The higher the degree of mechanization, the higher the utilization rate of lubricating oil. The prospect is promising, and the development of lubricating oil industry market will tend to grow steadily.

China has a huge lubricant market. The rapid growth of domestic demand for automotive oil and the trend of high-grade automotive oil will promote the automotive lubricant industry to enter a period of rapid development. It is estimated that by 2020, the demand for lubricating oil in the Chinese market will double, and the consumption may exceed that in the United States. The rapid growth in demand for vehicle oil and the trend of high-grade vehicle oil will push the vehicle oil industry into a period of rapid development.

At the same time, the optimal allocation of resources in the domestic lubricating oil market has not been fully realized, which is reflected in many aspects, such as base oil, scientific research force, material procurement and so on. In addition, due to the limited size and profitability of enterprises, the financial budget system is usually not really implemented, and the completion of profits seems passive. Therefore, there is still much work to be done to make full use of resources and further optimize them. In order to improve the brand image and increase the proportion of high-grade oil, it is necessary to change the original market operation methods and strengthen integration and monitoring.

The domestic lubricating oil market is developing well. The supply and demand pattern of base oil in the industry has been broken. At the same time, customer demand is developing towards high-grade and personalized. The degree of market homogeneity and competition are becoming increasingly fierce. In the future, the development of the lubricating oil industry will adapt to the development trend of