Volume 3 Issue 9

Indian Demand Underwhelming in 2015-2016

Through the first three-quarters of fiscal 2015-2016, Indias lubricant market appears to have fallen short of expectations. While giving scant credence to government statistics signaling a steep drop in demand volumes through the first nine months of the year, industry insiders agree that demand volumes saw little to no growth.

Shenyang Blender to Build New Plant

Chinas Shuangzi Lubricant plans to build a 100,000 metric ton per year blending plant in Liaoning provinces China-Germany Industrial Park in Shenyang city.

Perstorp Considers Penta Plant in India

Perstorp announced recently that it may build a world-scale pentaerythritol factory in India to better position itself to supply the chemical for lubricants, coatings and other markets in Asia.

Castrol India Reports Profit Gains

Castrol India Ltd.s 2015 year-end and fourth quarter profits jumped 30 percent and 7 percent, respectively, compared to 2014s corresponding periods, while sales were down year over year. Gross earnings for Caltex Australias lubes and specialties fell by nearly half.

Briefly Noted

Chinas Ministry of Commerce granted GTS Chemical Holdingsa license to sell lubricants internationally, and the Chinese lubes manufacturer will export U.S. $180,000 worth of industrial lubricants and engine oils to Tanzania in March. Asia-Pacific was the largest metalworking fluids market in 2015 with over 40 percent of worldwide demand according to a recent study from United States-basedGrand View Research Inc.The region is expected to expand at a 4.4 percent compound annual growth rate to 2022.