The global finished lubricants market has been going through a phase of uncertainty, with a multitude of factors hampering its growth outlook. Several years ago, some countries faced a sovereign debt crisis, which cast a shadow on the global economic environment. Thereafter, the outbreak of the COVID-19 pandemic forced the world into a recession. More recently, the emerging geopolitical situation has had a cascading effect on the global economy, leading to high inflation and interest rates, simultaneously creating an uncertain trade environment. All of these events invariably have impacted the demand for finished lubricants, contributing to the inherent changes that the lubricants and basestocks market had already been witnessing—a shift toward better-quality lubricants and the increasing use of high-performance basestocks, reducing the need for lubricants. Continue reading
After successfully adjusting to shifts in technology and formulation approaches, the lubricant additives industry is facing yet another challenge: the rapidly rising electric vehicle (EV) lubricants segment.
The U.S. finished lubricants market rebounded from COVID-19 and experienced a strong recovery in 2021, with volumetric demand reaching 97% of the 2019 level.
The overall electric two-wheeler parc may be minuscule, at 1% of the parc in Asia-Pacific, Europe, and the Americas, but it’s expected to grow exponentially and reach a share of 4% by 2026. The reason: COVID-19.
LATAM’s lubricants market is recovering from the COVID-19 crisis and nearing pre-pandemic volumes, but further growth will differ depending on the lubricants segment itself. Continue reading
Two representatives from Kline’s Energy practice have grudgingly returned to our headquarters in New Jersey after spending three days at the STLE’s 76TH annual meeting and exhibition at the Walt Disney World Dolphin Resort in sunny Orlando, FL.
Long gone are the days when the electric vehicle (EV) “revolution” in India was considered mere buzz; the moment has clearly arrived. Sales of electric vehicles in India doubled in 2021 compared to 2019. Automotive players have made tremendous investments in setting up dedicated EV capacities, particularly in the two-wheeler segment. Numerous private players have also invested — and are continuing to invest — in infrastructure to support EV charging and/or battery swapping. Further, favorable policies by the central and state governments are creating an environment that will help drive EV sales. Against this backdrop, we provide an update on EV manufacturing, charging infrastructure, battery swapping, government policies and subsidies, and acceptance by Indian consumers.
The natural gas engine oil (NGEO) market is projected to grow at almost a 4% CAGR out to 2026, driven by the global shift toward renewable energy that’s been accelerated by the Russian/Ukraine war. Continue reading
With gas prices continuing to hit record highs — and with the average per-mile cost of electricity for an EV currently less than half the average per-mile cost of gas, according to AAA — it’s no surprise that sales of electric cars are increasing. In fact, California became the first state to hit one million plug-in vehicles earlier this year. But despite such gains, there’s still one obstacle that’s hindering further growth.
The New York International Auto Show (NYIAS), dark for the last two years due to the pandemic, officially opened its doors to the general public at the Javits Convention Center in NYC last Friday (it runs until April 24).