The automotive engine oil market is expected to witness a healthy growth in the coming years, due to an increasing number of vehicles on roads worldwide coupled with higher demand for long-drain engine oils. Engine oils are essential fluids that lubricate, cool and clean internal combustion engines, reduce friction between moving parts and helps maintain efficient levels of fuel economy and reduce exhaust emissions. Automotive engine oils come in various types such as mineral, synthetic blend, full synthetic and high mileage.
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Synthetics are gaining popularity due to their superior performance characteristics such as enhanced wear protection, improved oxidation resistance and extended drain intervals. Leading players in this market include Total SA, Royal Dutch Shell Plc., ExxonMobil Corporation, BP Plc., Chevron Corporation, FUCHS Lubricants Co., Idemitsu Kosan Co. Ltd., Petro-Canada (Suncor Energy Inc.), Valvoline International Inc., Total Lubrifiants S.A., and CONOCOPHILLIPS Company.