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PetroChina Recognized as A Market Leader in the “Top 20 Lubricants Companies, Worldwide 2023” by MarketsandMarkets 360 Quadrant

As defined by the Independent Lubricants Manufacturers Association (ILMA), a lubricant is a chemical or material that is used to lubricate engines and other components. Engine lubrication plays a crucial role in both commercial and automotive engines as it mitigates wear and tear caused by friction within the machinery and components. Lubricants find widespread usage in industrial machinery and engine components, and their formulations vary depending on the specific application, using specific base oils and additives. These base oils can be derived from either petroleum or bio-based sources.

The Lubricants Quadrant is a comprehensive industry analysis that provides valuable insights into the global market for Lubricants. This quadrant offers a detailed evaluation of key market players, technological advancements, product innovations, and emerging trends shaping the industry. MarketsandMarkets 360 Quadrants evaluated over 150 Lubricant companies of which the top 20 lubricant companies were categorized and recognized as the quadrant leaders. The 360 Quadrant effectively maps the companies based on factors such as revenue, geographic presence, growth strategies, investments, channels of demand, and sales strategies that were considered for the market presence of the lubricant’s quadrant. While the top criteria for product footprint evaluation included Base Oil (Mineral, Synthetic, and Bio-Based), Product Type (Engine Oil, Gear Oil, Hydraulic Fluid, Compressor Oil, Transmission Fluid, Grease, and Others), and End-Use Industry.

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PetroChina – The Market Leader
PetroChina, as one of China's largest oil producers and being part of the China National Petroleum Corporation (CNPC), PetroChina benefits from its association with a government-owned conglomerate, gaining access to resources and support that bolster its position in the lubricants market. It has been recognized as a top lubricants company by 360 Quadrants owing to the company's global reach and a diverse product portfolio that enable it to cater to a wide range of industries and customer segments. The company has been focusing on expansion in the Asia-Pacific region.

The company offers lubricants through China petroleum lubricants corporation, a wholly owned subsidiary of CNPC. The company is known as one of the largest suppliers of lubricants in the Asia Pacific region. Its current brand is Kunlun. At present, it can produce more than 700 brands of lubricating oil (grease and agent) products in 17 categories and is the supplier of lubricating oil products for leading customers in the aviation, mining, automobile, chemical industry, steel, cement, electric power, ship, railway, rubber, equipment manufacturing, and other industries.

The company has 13 lubricating oil, grease, and additive production plants (including holding companies and integrated production and marketing plants), lubricating oil, and auxiliary products annual mixing capacity of 2.5 million tons, and an annual filling capacity of more than 1.5 million tons. In terms of Refining, Chemicals, and New Materials Business the company plans to increase the production of low-sulfur marine fuel oil, paraffin, lubricating oil, asphalt, and other characteristic products.

360 Quadrants Scoring Methodology
360 Quadrants employs a comprehensive and transparent scoring methodology to evaluate companies. It identifies relevant evaluation criteria, collects, and validates data from multiple sources, and employs an algorithm that considers parameter weights to generate scores. Normalization ensures fair comparisons, and the aggregated scores categorize solutions into quadrants such as Market Leaders, Contenders, Innovators, and Emerging Companies. This unbiased approach equips users with accurate information, empowering them to make well-informed decisions and select solutions that best suit their needs and objectives.

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See Also: Top Paint and Coatings Companies, Worldwide 2023

About MarketsandMarkets™
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research and facilitates analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

360 Quadrants will also be launching 100 quadrants in Chemicals and Materials, Packaging, Energy & Power, and Healthcare.

Visit to access our interactive quadrants.

For media inquiries, please contact:

Mr. Agney Sugla

MarketsandMarkets™ INC.

630 Dundee Road, Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: [email protected]

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