You cant judge a book by its cover. Thats one thing Ken Furst, industry analyst for The Freedonia Group Inc., discovered while researching lubricants demand for World Lubricants, a new study from the Cleveland-based market research firm.
Furst told Lube Report that the odd, somewhat counter-intuitive thing about the lubricants market is that volume can be a misleading statistic. Sometimes declining volume means that quality is increasing, meaning opportunities for suppliers of higher-value lubes, he explained, citing Russias market as one example. Although volume is only growing minimally, the countrys motor vehicle fleet and manufacturing machinery are increasingly modernizing and thus requiring higher-quality lubricants.