Global lubricant additives consumption topped 4 million tons in 2022 and is forecast to reach near 4.5 million tons in 2027, close to pre-pandemic levels of 2018, consultancy Kline & Co. estimated in a recent webinar. An official said a number of trends and developments are creating opportunities for additive suppliers, including upgrades to finished lubricant specifications, rising fuel economy demands and the sustainability movement.

Colombian oil and gas company Terpel is making investments to expand production capacity at its blending plant in Peru, a company executive confirmed to Lube report. The company has said that diversifying its business and optimizing operations by betting on its lubricants business in Peru is part of its strategic plan in 2023.

The United States Environmental Protection Agency granted California authority recently to begin requiring increasing percentages of medium- and heavy-duty vehicles to generate no or little emissions. The state has already indicated it will use such permission to ensure that half of new trucks sold within the state will be electric by 2035.