The Indian grease market is the worlds third-largest and is growing approximately 2 percent per year, according to an analyst. One industry insider says it may also be ready to upgrade.
Total announced that it will build a grease plant at its lubricant factory in Tianjin, China. The new plant will have capacity to make 5,000 metric tons of grease per year and is scheduled to open in the fourth quarter of 2015.
ExxonMobil announced Friday that it is building a grease plant at its site in Jurong, Singapore. The company did not disclose the new facilitys capacity but said it is scheduled to begin operating by 2016.
Balmer Lawries grease and lubricants segment posted a loss for the three months ended June 30, while Sah Petroleums moved back into the black after a loss during the same period a year ago.
United Arab Emirates-based oil products trader Gulf Petrochem Group is in the midst of an initiative to buy Indian lubricant supplier Sah Petroleums, according to stock exchange records and a Sah official.
Nearly six out of every 10 kilos of lubricating grease produced worldwide during 2013 were made in the Asia-Pacific region, according to newly released data from the National Lubricating Grease Institute.
Greases and lubricants may not jump to mind in discussions of sustainable products, but an ExxonMobil official said synthetic, energy-efficient versions can promote sustainability in a variety of ways.
Frost & Sullivan estimated the global industrial grease market will reach U.S. $1.8 billion revenue in 2019, up from $1.2 billion in 2012, with technological improvements and customized grease systems creating opportunities for market participants in a wider range of industries.
Balmer Lawrie & Co., Indias grand old grease company, is trying to shake off some dust. In the midst of a multi-plant plan to expand its production capacity, the 146-year-old company is also aiming to become a bigger player in the market for lubricating oils.