Lubricant Demand Growth Stalls In Mature Markets, Strong Growth On The Horizon For New Emerging Markets, Sees Kline
Group I basestocks are continuing their long-term decline primarily due to technical obsolescence for automotive applications. The impending scarcity of Group I provides opportunity for other products like naphthenics in metalworking fluids, process oils, and rubber oils and is abetted by a supply push from Group II suppliers. George Morvey, Kline's Energy Practice project-manager, cautions, "While Group II penetration into automotive formulations is happening relatively quickly given the sector's fewer product variations, penetration into industrial applications is likely to be slower as there are many more product categories with small individual volumes; so the payback period for converting an application to Group II is longer."
Strong pre-recession basestock prices have rendered re-refining a more compelling economic argument and combined with new regulations in Europe and increasingly in North America, the use of re-refined basestocks is encouraged. However, logistic issues and a lack of consumer conviction remain obstacles to their greater acceptance. Globally, supply of re-refined basestocks is projected to grow at over 6% per year to exceed 3 million tonnes by 2021.
Kline's Global Lubricants: Market Analysis and Assessment combines regional market analyses into a comprehensive program to provide finished lubricant formulators, additive and basestock suppliers, and end users with the latest information on products, services, applications, and trends in the leading lubricant consuming regions of the world.
For more information, contact:Vera Sandarova Marketing Manager +420-222-33-00-13 Vera.Sandarova@klinegroup.comSOURCE Kline & Company
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