Global lubricant additive demand volume will grow 0.5 percent per year from 4.6 million tons in 2018 to more than 4.8 million tons by 2023, consultancy Kline & Co. projected, slightly less than the growth projected for finished lubricants due to a sharp decline in detergents for marine lubricants.
Normally this would be the opposite, David Tsui, a project manager in Klines energy practice, said during an online webinar on Sept. 25. Typically, lubricant additives has always outpaced lubricants demand growth. Thats because as you call for higher performance, higher specification fluids, generally speaking, theyre going to consume more additives. This one is purely this way because of the detergent decline in the marine shipping industry.