Volume 5 Issue 36
China continues to dominate the global wax market, but Indian suppliers are increasing sales domestically and abroad and could provide competition to Chinese companies in coming years, an industry insider said at a conference last month.
A major Chinese supplier of lubricant packaging equipment has established a subsidiary to help clients use QR codes to battle counterfeiting. The step by Tom Packaging Machinery reflects the scale of the problem in Chinas lube industry.
The Petroleum Association of Japan forecast that the countrys lubricant demand growth will slow to an annual rate of 0.7 percent this year to reach 1.3 billion metric tons. Demand grew 1.2 percent in 2017.