Volume 5 Issue 49

Axel Predicts Lithium Greases Will Wane

Lithium could lose its spot as a most common thickener for automotive and industrial greases in the coming years because of rising competing demand for electric vehicles and new energy storage solutions, an industry event heard recently. Higher prices and supply disruption for castor oil derivatives – which are essential for lithium grease production – are also putting pressure on use of these greases, according to an official from Axel Christiernsson.

Custom Content in association with PENTHOL

Penthol Steps Up as European Base Oil Supplier

Penthol, a globally recognized distributor of base oils and solvents, is now selling API Group I base oils to the European market from dedicated storage tanks in Rotterdam, The Netherlands, and Ghent, Belgium. Plans are already underway to further increase total storage capacity at these facilities to more than 10,000 metric tons by the end of this year to meet the anticipated demand.

E-commerce Said to Offer Opportunities

E-commerce channel is evolving into an important growth channel that can help lubricant companies increase visibility and sales, and it’s important to approach it with a customer-focused strategy, a consultant told the Union of the European Lubricant Industry’s annual congress in Athens in October.

Steep Drop in Profits for Ardova

Nigerian blender and distributor Ardova Plc reported an 83% drop in net profit and a 10% increase in sales revenue for its lubricants and greases segment for the quarter ending Sept. 30, according to the company’s financial statement. Net profit for the lubricants and greases segment was ₦61.2 million for the third quarter, down from ₦368.5 million in the same period last year.

From Other Editions of Lube Report

Japan Demand Jumped in October

U.S. Leads North America’s Rebound

U.S. Base Oils Fall in September

Briefly Noted

German lubricant and aftermarket additive manufacturer Liqui Moly Group will promote its administrative director, Uli Weller, additional managing director of the company at the start of 2023, alongside Managing Director Günter Hiermaier. Weller will also remain administrative director, and Hiermaier will also remain company spokesman.