Volume 10 Issue 1
Asean Lube Demand Projected to Grow
January 6, 2023Lubricant demand in nine major Association of Southeast Asia Nations countries is projected to grow by a compound annual rate of 2.1% to more than 3.5 million metric tons in 2027 and of 1.5% to nearly 4 million tons in 2032, boosted by industrialization and urbanization, as the region recovers and tries to reach pre-pandemic lube consumption levels, consultancy Kline & Co. projected.
Shenghong Refinery Makes Maleic, MMAs
January 6, 2023China’s largest petrochemical refinery is now fully operating, and maleic anhydride and methyl methacrylates are among the materials it is producing. Maleic anhydride is used to make lubricant additives, and MMAs are used as viscosity modifiers in lubricants.
Profits Down for Korean Blender Michang
January 6, 2023South Korean lubricants blender Michang Oil Ind. Co. Ltd. reported a 45% drop in net profit and a 4% increase in sales for the quarter ending Sept. 30. For the first nine months of 2022, the company’s lubricant sales volume was up 10% on 2% higher sales.
From Other Editions of Lube Report
January 6, 2023U.S. Base Oil Output Down Again
Briefly Noted
January 6, 2023Sales of four-wheel automobiles in Southeast Asia increased 4% to 298,816 in November, compared to the same month last year, according to Asean Automobile Federation data. Through the first 11 months of 2022, sales were up 27% at 3.1 million, compared to 2.5 million for the same period in 2021.