Volume 4 Issue 50
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.
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.
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.