GS Caltex sees much promise in China’s lubricants marketGS Caltex said yesterday it aims to tap into one of the world’s fastest-growing markets for lubricant products as it sees opportunities growing in China.
Last month, the company launched a brand called Dongfeng GS Lubricants, developed jointly with Dongfeng Motor Lubricant, a unit of Chinese carmaker Dongfeng Motor.
“China currently trails the United States as the world’s second-largest consumer of lubricants, but it is expected to become the world leader, boosted by its growing automobile industry,” said Kim Eung-sik, head of the company’s lubricants business.
Car lubricants account for 64 percent of the Chinese market, while industrial lubricants make up the rest.
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