Brazilian lubricants market reacts and grows
After a slow start to the year in the first three months, the Brazilian lubricants market recovered and closed the first half of 2024 with a volume of 773,471 m3, 4.8% higher than last year. Imports of base oils fell in June, but ended the semester 38.4% up on the previous year, with Brazil having already disbursed US$ 412.4 million in the period.
The lubricants market increased in the footsteps of sales in the automobile industry, which grew by 14.6% in the first half of the year compared to the same period last year, despite a stagnation in the number of vehicles produced.
The market share figures for lubricant companies didn’t change much, with Iconic (Chevron + Ipiranga) leading the way with 17.8%, followed by Moove (Cosan + ExxoMobil) with 16.5%, Vibra (Ex. BR / Petrobras Distribuidora) with 15.6%, Raízen with 11% and Petronas with 8.6% completing the TOP 5.
Base oils
Concerning the base oil market, imports accounted for around 45% of Brazil’s needs, with local refineries supplying 34% and the re-refining industry contributing around 21%. The re-refining figures published by the ANP are yet to be corrected, as April does not include the entire volume placed on the market.
The total volume imported in the first half of the year was 433,800 m3, corresponding to a total value of US$412.4 million.
