The Indian lubricants market remains one of the growth prospects in an otherwise flat global market; however, it has its own set of challenges. The year 2019 was significant for the Indian economy—the general election saw the incumbent government getting mandated until 2024, thereby providing political stability. However, the slowdown in the global economy has caught up with the Indian economy, as it consistently registered downward revisions in its economic outlook. This directly impacted automobile production, which contracted by 10%-12%, with the most severe shrinkage observed in commercial vehicles production. This had an immediate impact on first-fill demand; a cascading effect on the service-fill market is anticipated.
The market of metalworking fluids is among the stronger avenues of the lubricants industry. However, it is currently witnessing significant change arising from shifting HSE regulations, changes in machining technology and materials, a reversal of offshoring to low-cost locations, and growth in additive manufacturing. Demand growth also remains weak, partly due to the slowdown in China and the overcapacity in many end-use industries including steel, with an increase of 0.2% in 2019 compared to the previous year. However, growth differs from one country to another.
This webinar will provide an overview of the Indian lubricants market, focusing on key trends, competition landscape, future developments, challenges, business opportunities, and major suppliers. It will assist to explore market opportunities and challenges for lubricant blenders and marketers, baseoil marketers, and additive companies.
The webinar will assist wax producers, blenders, marketers, and other market participants in identifying the opportunities and challenges within the industry. It will also help to answer some common questions and help the participants understand the forces in the wax business as well as the recent developments that are driving the global wax market.
After a turbulent 2019, the economy in Latin America and the Caribbean was in a recovery mode, albeit vulnerabilities remain. Lubricant marketers will have to cope with various challenges related to chronicle issues affecting the region including economic dependence on commodity, combined with fiscal disbalance and social unrest and most recently the global Coronavirus outbreak.
Germany is one of the world’s most technologically advanced producers of transportation equipment, steel, iron, cement, chemicals, machinery, and machine tools. It is also the fifth-largest metalworking fluids market globally.
Over the past five years, German industrial output has risen considerably, driving demand for metalworking fluids to 130 kilotonnes in 2018. The transportation industry was the leading consumer of metalworking fluids that year, accounting for an estimated 46% of the total.
Mexico is expected to resume growth in 2020 after last year’s economic stagnation, which was caused by a combination of negative factors including policy uncertainty and slower global and U.S. production. The economic recovery will be contingent on the successful implementation of prudent fiscal policies and the ratification of the U.S., Canada, Mexico (USMCA) trade agreements, which is basically replacing NAFTA.
The shift from conventional petroleum wax-based products to synthetic and vegetable waxes is becoming intense. Non-conventional waxes, particularly Fischer-Tropsch’s and hydrogenated vegetable, are increasingly becoming the focus for growth in the wax business. Interestingly, the wax landscape is also changing on the end-use side.
Metalworking fluids is the second-largest category within the industrial lubricant segment in Russia. The segment has been stable without large variations over the years. However, due to the steady annual growth of automotive production in the country and increasing exports of steel and primary metals over the past few years, it is expected that demand for metalworking fluids will keep growing in line with growth in the manufacturing sector.Continue reading
With China’s slowing GDP, many changes and new economy sectors will play an increasingly important role in the country’s future economic growth. China’s economic structure is transforming from investment- and export-driven to consumption-driven, with manufacturing and growing domestic consumption. Its changing economic strategy will bring both opportunities and challenges to different end-use industries.Continue reading