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In February 2020, European Group I base oil export spot prices were in the low-mid $600/ton range between SN150 and brightstock. Today, solvent neutral cash market prices are double, and brightstocks almost triple, their levels of just a year ago.
The causes of such an explosion in base oil prices are not obvious and go beyond the confines of the base oil business itself. This paper is an attempt to rationalize the complexities.
The Indian lubricants market is the third-largest in the world. Within it, MCO account for 9% of total demand, making it the third-largest product category. Among all lubricants product categories, MCO was one of the least impacted by the COVID-19 pandemic and one of the fastest to recover. According to current estimates, the MCO market is growing at 3.7% per year, making it one of the most attractive product segments for lubricants marketers. Growing electrification will change that and create new challenges for market participants.
The interaction between the drive to sustainability and the lubricants industry can be classified into three themes. This article will discuss these themes and what opportunities and challenges they present to lubricants industry participants.
Despite a major setback due to the pandemic, the lubricants market in the Association of Southeast Asian Nations (ASEAN) region continues to be a dynamic one with strong growth prospects over the forecast period. This video presentation provides an overview of the automotive and industrial finished lubricants market in select ASEAN countries.
[TREND 16] Bio-Lubricants Business Scrutinized In a response to tightening carbon neutral policies, the contribution of bio-lubricants is now being scrutinized from a life cycle assessment perspective (their from-cradle-to-grave carbon footprint reduction effect). Bio-lubricants constitute a small fraction—less than 2%—of the finished lubricants market globally. However, the average growth rate for bio-lubricants is expected to
[TREND 12] New Technologies: AI and Robotics Automation and robotics cost management solutions will increase over the next decade. In response to infectious diseases, and particularly COVID-19, the use of robots is growing dramatically as they help fight coronavirus by replacing humans to deliver groceries, sanitize hospitals, and monitor patients. Many companies are now implementing
[TREND 11] Oil Price Dip of 2020 Historically plummeting crude oil prices affected large oil exporting countries, notably Saudi Arabia, which has experienced an unprecedented double hit. The country has been affected by the COVID-19 shutdowns as well as by even lower oil prices as the world closed down. This, however, could be an opportunity
[TREND 10] The Hydrogen Economy In July 2020, the EU announced its hydrogen policy to achieve a carbon-neutral economy. Several countries, including Australia and Japan, issued such policies in the past. However, the EU policy is more comprehensive and takes an integrated approach to reducing carbon footprints. The policy, issued as part of the
Food-grade lubricants are a special category of oils and greases that are designed for use in the food and beverage processing industries due to their low or non-toxicity. These lubricants are also used in various food processing and peripheral food industries.
The manufacturing sector in the United States accounts for a shrinking share of the U.S. economy, a fact that is much rued by observers. The upheaval caused by COVID-19 has been a bitter pill to swallow for many manufacturers, who are now evaluating questions such as: How has U.S. manufacturing been impacted in 2020, and what will be the implications of the current situation in the short-term future? How will this impact the market for lubricants, base oils, and additives?
