Latin America is a 3.15 million-ton-every-year lubricant market. Mexico and Central America are 900 thousand-ton lubricant markets, and South America is a 2.25 million-ton lubricant market, said Mr. Thiago Ferreira Veiga, Petrobras Development Engineer for car products at the ICIS Pan-American Base Oils & Lubricants Conference on December 1st, 2011.

 

Below is the lubricant consumption estimation of key South American countries in 2011 estimated by Mr. Veiga.

Brazil: 1.2 million tons

Argentina: 279,900 tons

Venezuela: 219,600 tons

Chile: 156,600 tons

Colombia: 153,900 tons

Peru: 96,300 tons

Ecuador: 69,300 tons

 

We can see from the above figures that Brazil alone accounted for more than half of South America's lubricant demand. The country's South and Southeast regions (with 56% of Brazil's population) account for 71% of lubricant consumption, and 73% of GDP.