U.S. Lube Additive Volumes Dipped


U.S. Lube Additive Volumes Dipped
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Lubricant additive sales volumes in the United States took a slight downturn in June, although volumes for the first half of the year remained well above the first half of 2020, which was impacted by the COVID-19 pandemic, according to statistics released last week by the American Chemistry Council.

Sales volumes for lube additives declined 0.6% in June, compared to May, on a seasonally adjusted basis, the Washington, D.C.-based trade group said in a July 21 news release. This followed a 0.1% uptick from April to May.

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Lube additive volume volumes for the first half of this year ran 6.5% ahead of the same period for 2020, and June’s volumes were 13.1% higher than in the same month in 2020, when the pandemic was still taking a heavy toll on the U.S. Economy.

Total specialty chemical volumes rose 0.6% in June, the same growth rate that was seen in May. This followed declines in April and May that were attributed to severe winter weather, including the unusual winter vortex that led to widespread power outages and business closures in Texas during February.

Specialty chemical sales volumes from January through June ran 2.7% ahead of last year, while June’s performance was 11.3% better than in the same month of 2020. The latter was the same gain as in May, leaving volumes off 3.7% from pre-coronavirus levels, the council noted.

If the economic recovery continues, 2021 should be a good year for specialty chemicals, the ACC noted.