Brazil’s lubricants market saw 10 percent growth in consumption rates for 2004, outpacing the economic juggernauts of China and India for the year, says an upcoming study from market research firm Kline & Company. Still, the market in Brazil is likely to remain highly competitive, it predicts, and lube marketers should not expect significant growth in profits.
“Ten percent growth in the lubricants industry is virtually unheard of,” pointed out Geeta Agashe, director of Kline’s petroleumand energy practice. Smaller but still-healthy growth rates of 3 to 4 percent a year are expected in Brazil for the next decade as well, the Little Falls, N.J., consultants added.
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