Japan produced 159,864 kL of finished lubricants in September, a 24% drop from the same month of 2023, according to the latest statistics from the country’s Ministry of Economy, Trade and Industry.
Domestic lube sales were down by a similar amount, while exports fell to less than half of what they were 12 months earlier.
Japan is one of the world’s largest lubricant markets. Domestic demand has trended down in recent years, as it has for the country’s consumption of fuels and numerous other petroleum products. Local lube marketers have reacted by working to increase sales in foreign markets, whether products are made in Japan or overseas.
Lube sales within the country fell to 140,498 kL in September, down 21% year to year from 177,845 kL. Exports totaled 25,578 kL, down more than half from 51,988 kL in September of last year.
Japan imports far less lubricants than it exports. It imported 12,736 kL in September, 53% less than the 8,324 kL the country took in in the same month of 2023.