Global lubricant industry leader Shell Lubricants said it has topped the list of world's leading lubricant suppliers, citing a research by Kline & Company.
The US-based lubricant major has topped the survey with a 13 per cent market share in 2007, a two per cent lead over its nearest competitor which Shell did not identify.
"Shell has topped the annual rankings by achieving a 10 per cent year-on-year increase in sales volume in 2007, significantly outpacing the lubricants market as a whole which grew by 2 per cent overall," the company said in a release.
Shell recorded a strong growth in the emerging markets of Asia Pacific region overtaking North America as the largest region for lubricant consumers.
"We have refused to compromise product quality even in the face of unprecedented increase in input costs believing that the customer needs products that can be relied upon. In India, our strategy of delivering value for money is no different," said Shell Lubricants Head,India, Donald Anderson.
Shell managed to sustain growth in Western Europe where overall demand for lubricants dipped. It was able to retain its market lead of 12 per cent in the US.
"Volume-wise, Asia is going to be the growth engine of the future, with demand declining in Western Europe and essentially flat in North America," Kline Vice-President Energy Geeta Agashe said.
The company's lubricant volume grew by 8 per cent year on year in India, by 20 per cent in China and by 14 per cent in Indonesia.
"In India, we have brought our joint venture partner to establish a 100 per cent Shell-owned presence," said Shell Executive Vice President David Pirret.
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