estaff

Japan’s base oil production for April fell 20 percent compared to the same month last year, according to data recently released by the country’s Ministry of Economy, Trade and Industry.

A new report by market research company Data Bridge forecasts the food-grade lubricants segment will grow by 7.1 percent by 2027 to a value of U.S. $387.83 million, driven by increasing concerns about food safety and a growing population.

Japan’s base oil production for April fell 20 percent compared to the same month last year, according to data recently released by the country’s Ministry of Economy, Trade and Industry.

As China slowly reopens its economy, domestic lube suppliers see survival at the top of the agenda and are using promotional events and new distribution channels in attempts to jump start sales.