The Independent Lubricant Manufacturers Association is reaching out to members and governments to inform them that lube blenders are considered essential or life-sustaining and may continue physical operations under stay-at-home orders issued to contain the coronavirus pandemic.
Calumet Specialty Products Partners L.P. sold its year-old investment in Biosynthetic Technologies in March, according to Calumets first quarter earnings report. Biosynthetic Technologies is a startup that converts plant oils into synthetic base stocks using proprietary technology.
Tariffs imposed on lubricants and lubricant additives traded between the United States and China have made an obvious impact on the markets in both countries, but the U.S. industry has also been affected by levies that Washington, D.C. imposed on steel imports.
Rather than focus on pricing, lubricant marketers should use packaging to differentiate themselves in a market where consumer brand preference is falling by the wayside thanks to an overwhelming number of products and consolidation of retailers, an industry insider said at the Petroleum Packaging Councils annual tradeshow held earlier this month in Tampa.