France Demand Rose in May

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France Demand Rose in May

France’s lubricant consumption rose 9% to 45,368 tons in May, compared to the same month last year, according to data released by the Paris-based Professional Lubricants Center. The country’s gross domestic product began to rebound in April and May after a drop in the first quarter, according to the Bank of France.

Consumption of automotive lubes increased 9% to 24,760 tons in May.

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Passenger car engine oil demand increased 11% to 13,678 tons, and sales of engine oils used in commercial diesel vehicles were also up 11%, at 4,679 tons. Automotive transmission fluid sales grew 16% to 936 tons, and demand for automotive greases jumped up 27% to 451 tons.

Demand for industrial lubricants – excluding process oils – increased 13% to 14,967 tons

Hydraulic transmission oil consumption rose 7% to 5,813 tons. Within that category, non-flammable oils demand jumped 240% to 650 tons. Industrial greases consumption climbed 50% to 1,586 tons. Among metalworking fluids, non-soluble types increased 13% to 1,396 tons, and soluble variants rose 9% to 1,433 tons. Turbine oil consumption grew 14% to 257 tons. Compressor oil demand declined 6% to 181 tons.

Process oil consumption was up 1% at 5,641 tons.

In its macroeconomic projections for July, the Bank of France said that while the country’s gross domestic product fell in the first quarter of this year – affected by the Omicron epidemic wave and the initial consequences of the war in Ukraine – GDP progressed in April and especially in May. France’s GDP should stabilize in June, and early indications suggest it would be stable again in July. The bank estimated that GDP growth would be around 0.25% up for the second quarter, sequentially, compared to the first quarter.