14th International Meet the Market – South America Highlights News and Growth in the Motorcycle Lubricant Market.
On July 3rd, Richful, a leading company in the lubricant additives industry, participated in the 14th International Meet the Market – South America. The company presented a panel dedicated to the global motorcycle lubricant market. Tim Tao Yida, Technical Services Manager, led the presentation, unveiling trends, perspectives, and technological innovations in motorcycle engine oil development. The event brought together experts and industry leaders to discuss the future and challenges of the industry.
Motorcycle Market on the Rise in Brazil
Tim Tao Yida highlighted the growth of the global motorcycle market, especially in the Asia-Pacific region, while drawing attention to Brazil's significant role in South America. In 2021, Brazil had a fleet of 15.3 million motorcycles, with an annual growth forecast of 2.8% until 2026, indicating the segment's resilience.
Innovations in Motorcycle Engine Oils
Yida showcased the latest innovations in motorcycle engine oils, emphasizing the new performance standards of JASO T903:2023, launched in May 2023. These standards aim to improve the durability of exhaust catalysts and reduce oil consumption by adjusting the phosphorus content and evaporation loss of lubricants.
He also explained the JASO MA and MB specifications. The MA specification prevents wet clutch slippage, while the MB specification improves fuel economy in scooters with automatic transmission.
Challenges and Opportunities in Brazil
The Brazilian lubricant market faces challenges such as price sensitivity and the need for products suitable for heavy use, especially in motorcycles used for deliveries and logistics services. Yida pointed out that, in 2021, the demand for motorcycle oils in Brazil was 103.6 kilotons, with most of this demand coming from 150cc and 160cc motorcycles used in e-commerce services.
Perspectives and Final Considerations
The event provided a rich debate on the growth opportunities in the Brazilian motorcycle market and how companies can adapt to new regulations and consumer demands. Discussions included trends related to urban mobility and the increasing role of motorcycles in major urban centers of developing countries, including Brazil.
A key point was the importance of adapting products to the specific needs of Brazilian consumers, such as the demand for lubricants that withstand intense and prolonged use. Additionally, the need for constant innovation to comply with environmental regulations and improve product eoiciency was highlighted.
