In 2021, the energy industry witnessed changes on a transformational level. These included global supply chain disruptions due to the COVID-19 pandemic, the enhanced focus worldwide on greenhouse gas emissions and decarbonization, and multiple groundbreaking technological advancements.
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If Joe Biden’s ambitious wind-turbine goals are realized, “thar’ she blows” could be shouted throughout the land. After all, the President’s initiative seems to be quite the bonanza for lubricants demand in the wind energy sector. Alas, if only that were true.
The plan is to develop large-scale wind farms along nearly the entire coastline of the United States, with Biden pledging to build 30,000 megawatts of offshore wind in the United States by 2030. Interior Secretary Deb Haaland has stated that her agency will formally begin the process of identifying federal waters to lease to wind developers by 2025.
Unlike that old nursery rhyme, the farmer may actually no longer be in the dell. Between an aging population — today’s farmers are 60 years old on average — and unprecedented labor shortages, a growing number of farmers are climbing off their John Deeres and calling it a day. As crops lie unharvested and agricultural products from the U.S. become increasingly uncompetitive globally, hopes are turning to autonomous tractors.
When the world shifted to e-commerce during the COVID-19 pandemic, manufacturers of counterfeit lubricants similarly took to the electronic superhighway. Along the way, they began appreciating both the many “rest stops” — giants like Amazon and eBay are lined with scenic unregulated third-party vendors — and their ability to reach a wider clientele.Continue reading
Consumption of food-grade lubricants could hit new highs in China and India, according to research from our first-ever dive into the industry.
“Rapid growth in consumption of food-grade lubricants is expected to occur over the next five years,” says Sushmita Dutta, Project Manager of our Energy sector. “Increasing consumer awareness, strengthening supervision and enforcement of regulations by the governments in these countries, and the rise in the number of food and beverage processing plants in 2020 represent only a few of the factors driving growth in these two markets.”
A Collaboration Between Lube Magazine and Kline & Company
Sustainability is a critical global initiative, currently representing one of the key business drivers within the energy sector. Environment, Social, and Governance (ESG) standards are expected to have a profound impact on the operations and business practices of enterprises worldwide. To achieve their sustainability goals, companies across a wide range of industries will institute operational measures and decarbonization technologies.
The road to a German Green Party win may be filled with electric vehicles — ironically, due to Merkel’s pulling the plug.
Following its surprisingly strong showing in the nation’s recent parliamentary election — it achieved its best results ever in a national election, garnering almost 15% of the vote — the Party stands a high probability of becoming part of Germany’s new government coalition.
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Lubricant demand in Argentina was negatively affected by the recession continuing into its third year, as well as the pandemic. In addition, the decline in automotive sales and oil and gas production have offset growth that was being driven by other factors. However, the finished lubricants market in Argentina is estimated to increase at a compound annual growth rate (CAGR) of 2.9% between 2020 and 2025 to reach 209.4 kilotonnes, according to Kline’s just-published analysis. What are the five key drivers of this impressive outlook?Continue reading
China’s lubricants market is projected to increase at more than 1% CAGR until 2025, with gains caused by growth in premium lubricants as the country modernizes at a breakneck pace. The finished lubricants demand growth in the country has traditionally followed GDP growth. Thus, the current positive projections should drive a healthy rebound in China’s overall lubricants market. China’s GDP growth had slowed before the onset of COVID-19, although it was still a healthy +6.1% in 2019. Economic growth declined due to the pandemic, but the country’s economy was still the only major economy to achieve positive growth in 2020, increasing by 2.3%. Growth is estimated to be 8.4% in 2021 as the economy rebounds, and more normal rates should be achieved thereafter.
