Trade associations in the lubricants industry have taken significant steps the past few years developing standards to help quantify the sustainability of products that companies sell, speakers said this week at a tribology conference in Minneapolis, Minnesota, but more work remains to make a big impact on greenhouse gas emissions.

Although vehicle manufacturers’ transition to electric vehicles manufacturing is expected to reduce metalworking fluids consumption, it is also expected to bring some growth opportunities, according to findings highlighted in a Kline & Co. webinar last week.

Lubrizol reported higher first-quarter pre-tax earnings despite a drop in sales revenue – thanks to decreases in raw material and manufacturing costs.