London-based Shell Plc’s global lubricant sales topped 4.5 billion liters (4 million metric tons) in 2021, ranking number one globally, with an 11.6% market share, the company said in a marketing update released Oct. 6, citing data from consultancy Kline & Co.
Adjusted earnings for Shell’s lubricants business slipped to around $1 billion in 2021, compared to more than $1.2 billion in 2020, according to the marketing update. However, the company said it advancing towards 2025 growth commitments, aiming to reach around the $1.8 billion adjusted earnings mark by then. This would then result in a 10% compound annual growth rate from about $600 million adjusted net earnings in 2013 for the company’s lubricants business.
The Europe-Middle East-Africa region accounted for an average of 23% of Shell Plc’s lubricants net earnings during 2019-2021, according to the Shell Insights Marketing Update presentation. Over that period, the Americas market accounted for 34% of Shells’ lubricants net earnings, China for 26%, and Asia-Pacific for 18%.
Shell said lubricants for the industrial segment accounted for an average of 36% of sales volume during 2019-2021, followed by consumer at 33% and commercial at 31%.
The company noted it has spent $140 million per year on lubricants-related research and development since 2019.
On the sustainability side, the company said that as of the first half of this year, it uses 40% recycled plastic in bottles produced in Europe.