Volume 10 Issue 45

South Korea Market Forecast to Barely Grow

South Korea’s economy may be rebounding and vehicle sales within the country continuing to expand, but that will barely be enough to spur growth in the nation’s lubricant market next year thanks to the impact of electric vehicles. That is the conclusion of the Korean Lubricating Oil Industry Association, which forecast this week that domestic lubricant demand will increase at a scant 0.5% in 2024.

Profits Fall for Thai Oil, Chevron Lanka

Thai Oil Group’s base oil business suffered steep declines in net profit and sales revenue for the third quarter due in part to shrinking profit margins. Meanwhile, profits plummeted in the quarter for Chevron Lubricants Lanka Plc and Lanka IOC.

Lubes’n’Greases November Issue Available

The November issue delves into new regulations and monitoring of per- and polyfluoroalkyl substances, known as PFAS, and explains why hybrids may cushion the blow to automotive lubricant manufacturers as electrification accelerates. This issue also explores past, present and future heavy-duty engine oil viscosity trends as well as why U.S. base oil production dipped during the first half of 2023.

Researchers Use Electricity to Reduce Friction

A research group led by two universities in Japan recently announced a new technology that uses dielectrophoresis – electric power – to effectively collect high-performance lubricants onto mechanical sliding parts, which the group believes can reduce energy losses to friction when using small amounts of lubricant.

From Other Editions of Lube Report

Ingevity to Close Crude Tall Oil Fatty Acid Plant

U.S. Base Oil Exports Jumped in August

A French Brand Name from a Russian Blend Plant

Briefly Noted

Sales of new automobiles in Japan reached 397,672 in October, an 11% increase from 359,159 in the same month last year, according to data released by the Japan Automobile Manufacturers Association.