ILMA Chief Executive Officer Holly Alfano said independents are succeeding by providing customized products and attentive customer service.

“This study reinforces that independent lubricant manufacturers are not just surviving – we’re thriving, innovating, and leading,” said Alfano. “ILMA members will remain essential partners in North America’s industrial future.”

In the study, which was released last month, S&P estimated total lubricant sales volumes in the United States, Canada and Mexico along with sales volumes by independent marketers – those companies that do not also produce base stocks, the main raw material in lubricants. Oil majors – refiners that supply base oils and finished lubes – are the industry’s largest suppliers, but there are higher numbers of independents.

S&P estimated that North American lube demand was 9.3 million metric tons in 2018 but shrank to 8.3 million tons by 2024. Over the same period, sales volumes by independents rose from 2.5 million t/y to 2.6 million t/y.

The trends for total sales volumes and independents’ market share were directionally the same in all three of the region’s countries. The U.S. market shrank from 7.9 million t/y to 6.9 million t/y, but sales by independents grew from 2.1 million t/y to 2.2 million t/y, an increase of 4.3%. Sales in Mexico slid from 756,000 t/y to 692,000 t/y, while those by independents rose 0.3% to 328,000 t/y. Total sales in Canada dropped from 677,000 t/y to 615,000 t/y, but sales by independents rose 3.4% to 89,000 t/y.

North American independent manufacturer sales volumes of metalworking fluids fell from 376,000 tons in 2018 to 329,000 tons in 2024, the study concluded, but their sales of other industrial lubricants and of transportation lubes both increased – the former by 2.7% to 1.2 million tons and the latter by 11% to 1.1 million tons.

The S&P study for ILMA is available to the public and can be viewed here.