Worldwide Lubricant Market Approaches $50 Billion
Cleveland, OH -- Global lubricant demand is forecast to reach 40.5 million metric tons in 2012, according to a 428-page study published earlier this year by the Freedonia Group Inc., World Lubricants ...
Cleveland, OH — Global lubricant demand is forecast to reach 40.5 million metric tons in 2012, according to a 428-page study published earlier this year by the Freedonia Group Inc., World Lubricants to 2012.
The study analyzes the US$48.8 billion world lubricant industry. It presents historical demand data for the years 1997, 2002 and 2007, and forecasts for 2012 and 2017 by lubricant formulation (e. g., petroleum, synthetic, re-refined, vegetable-based), product (e. g., engine oils, process oils, hydraulic fluids, metalworking fluids), market (e. g., motor vehicle aftermarket, manufacturing), world region, and for 31 countries.
The study also considers market environment factors, details industry structure, evaluates company market share and profiles 31 industry players, including Shell, Exxon Mobil and BP.
Market gains will be strongest in the Asia/ Pacific, Africa/Mideast and Latin American regions due to ongoing rapid industrialization and rising car ownership rates. Engine oils will remain the largest segment of the lubricant market, while process oils will grow the fastest, according to Freedonia.
The full study costs US$5,700. For details, visit freedonia.com.
ExxonMobil breaks ground on technology centre in China
Beijing, China — ExxonMobil Chemical has broken ground on a technology centre in Shanghai, China, at the Shanghai Zizhu Science- based Industrial Park.
“This new centre in Shanghai is an important step towards supporting the tremendous growth we anticipate in sales of our premium products. It will expand our ability to deliver innovative solutions to our customers in the region,” said Steve Pryor, president, ExxonMobil Chemical Company. “It also signifies our long-term commitment to China and the region.” The new centre will provide product applications support and strengthen ExxonMobil’s ability to serve its customers in China and the region.
“Building on ExxonMobil’s long history in China, we are very proud that ExxonMobil Chemical has selected China as the location for this new technology centre,” said Paul Theys, chairman, ExxonMobil (China) Investment Co. Ltd. “We would like to thank the Chinese government for the trust and confidence it has shown in helping to make this project possible. We are pleased to support its vision for multinational companies to invest and support technology development in China.”
The new 27,000 sq m facility will be built and operated by ExxonMobil Asia Pacific Research & Development Co. Ltd. The initial investment in the technology centre and related equipment is US$70 million.
The facility will house laboratories and product demonstration facilities, providing applications technical service and a range of application development capabilities for ExxonMobil’s polymer products and plasticizers. Initial employment will be approximately 200 people. The facility is expected to be operational in 2010.
The true cost of oil leaks
Toronto, ON — Lubricant losses from circulating oil systems can be expensive, according to research from Chevron Global Lubricants, a member of STLE’s Toronto Chapter. Not only must the actual cost of the lubricant be considered, but there’s also the time and expense to clean it up and replace it. Labour, supplies such as rags and floor sweep, and the disposal cost of the oily waste must be included.
Safety is an additional consideration if an oil spill were to lead to a fall and personal injury. Lost production of finished products due to oil contamination is another possibility.
Note that a drop of oil is approximately 0.05 ml in volume. The annual cost of loss is conservatively estimated at $8/litre. This includes lubricant cost, labour to clean and replace, clean-up materials and disposal.