The mineral oil sector in the world is shaped by the changes in the automotive and other related sectors. The lubricants market is growing at an increasing rate on a global scale.
According to the statement made by the company, Castrol, one of the world’s leading motor oil producers, has achieved remarkable growth in Turkey.
According to Pet-Der data, while the mineral oil market grew by 8 percent in the first nine months of the year compared to the same period of the previous year, the company grew by 18 percent, more than twice the total market. In the same period, it maintains its leadership with a market share of 31.8 percent in passenger car engine oil, 46.7 percent in motorcycle lubricants and 32.4 percent in commercial vehicles engine oil.
China is left behind
Stating that the company continues the growth achieved last year in the world, Castrol Turkey, Ukraine and Central Asia (TUCA) Director Ayhan Köksal stated that, contrary to the financial contraction experienced in the world throughout 2022, they invested 20 million dollars in our country as a company, and that Turkey’s double-digit growth in 2022. He also said that the company is the most growing market among the countries in which the company operates, leaving behind China.
Underlining that new investments have been made for the market as a result of this growth, Köksal said, “A new line of 5.5 million dollars has been established in our production facility in Gemlik. With this line, products can be filled in a much shorter time without any human touch. This both increases our production speed and increases our production speed. It makes our hands very comfortable in terms of logistics,” he said.
Stating that they have achieved the market leadership in the world of the company with the strategic approach they have created despite the problems experienced in the regions under Castrol Turkey’s responsibility area, and that they are in the position of an exemplary market with their innovation and new initiatives they lead, Ayhan Köksal stated that thanks to these measures, the export turnover has more than doubled on the basis of foreign exchange income. He emphasized that approximately 100 million liters of mineral oil is produced annually at the Gemlik facility, which is one of the 8 Castrol production facilities in Turkey.
Noting that 85% of the production is offered to the domestic market and 15% to the foreign market, Köksal said, “The annual production volume of Europe and Africa, including Turkey, is at the level of 700 million liters. Our Gemlik facility in Turkey realizes approximately 12% of this production. “The Gemlik facility, which is so important for the region, will invest over $1 million in tanks in 2023 and $5.5 million in storage in 2024,” he said.