The global basestock industry continues to witness greater challenges. While the existing challenge of slow demand growth consistently outpaced by new supply creation persists, newer challenges in the form of alternate automobile technology, such as electric vehicles, are shaping the market landscape. On the other hand, the tightening fuel economy and emission regulations and original equipment manufacturers’ specifications are driving the use of high-performance basestocks. Attend this upcoming webinar on October 9 at 9 AM EDT to answer critical questions:Continue reading
The global lubricant basestock market has undergone a structural change over the past decade. The change, initially triggered by the need for high-performance basestocks, was further abetted by the enormous new basestock capacity created worldwide. Simultaneously, finished lubricant demand growth has been significantly outpaced by new capacity additions. Continue reading
The global rubber consumption is expected to slow down in the next five to 10 years due to slower tire demand. Since tires are the major consumer of rubber and rubber process oil (RPO), the demand for RPO is expected to grow slower during this period. However, demand for other rubber goods, such as shoes, toys, tubes, hoses, and belts, among others, is expected to grow and drive growth in the RPO market, which is estimated at close to 3.3 million tons globally in 2018.
In 2014, global demand for finished lubricants is estimated at 39.4 million tons, a marginal decline from 2013. Automotive lubricants account for over 50% of the total demand, with industrial products and greases accounting for the balance. Asia-Pacific is the largest lubricant-consuming region, accounting for over 40% of global demand, compared to North America, which accounts for just 22%.
Passenger car motor oils (PCMO) are defined by their quality specifications, viscosity, and, from a labeling point of view, the basestocks used to blend the product.Continue reading