Volume 4 Issue 50

IHS Forecasts Stagnant Lube Demand

European lubricant demand will never recover to the level it reached in 2019, and while the COVID-19 pandemic accelerated the decline, decarbonization of the energy supply and passenger transport will solidify this effect over the long term, according to a consultancy. Lube consumption in the region fell to 4.55 million tons in 2020, a drop of 9.5% compared to 2019, and will not recover to pre-pandemic levels, IHS Markit, a London-based consultancy, found.

Regional Market Shrank 11% in 2020

The European lubricant industry was not spared from the major shock to Europe’s manufacturing sectors caused by the COVID-19 pandemic, according to the president of the Union of the European Lubricant Industry. Demand for lubrication products in 18 countries shrank by 11% last year, Valentina Serra-Holm told listeners to a webinar hosted by the UEIL last week.

Castrol: Drivers Delay Maintenance

More than half of United Kingdom drivers responding to a recent survey said they have delayed vehicle maintenance such as engine oil changes during the COVID-19 pandemic, Castrol said in a recent post on its website. The lubricant marketer said that more than a third of respondents reported being concerned that the delays have compromised the reliability of their vehicles.

From Other Editions of Lube Report

Battery Maker Enters Lubes Business

ExxonMobil LAO Project Pushed Back

Factory Will Make Castor Derivatives

Briefly Noted

French lubricants and synthetic ester base stocks producer Nyco announced a collaborative partnership agreement with Air France to cooperate on engine oil field service evaluation and on development of new sustainable aircraft lubricants.  Adnoc Distribution will supply lubricants and fuel for Cars Taxi‘s fleet of more than 3,000 vehicles in the United Arab Emirates under a deal announced on Monday.