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.
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.
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.
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.
Local government in Tianjin, China, suspended port traffic following Wednesdays deadly warehouse explosions at the northeast China industrial zone, which is the busiest base oil port in Northeast Asia and a prominent lubricants supply hub.
Chinas Customs Tariff Commission of the State Council yesterday announced a trial program to exclude 16 types of U.S. products - including grease and certain types of lubricants, base oils and surfactants - from retaliatory tariffs.
Lithium grease thickeners still make up the majority of the global market because of their lower cost, but demand for products made with calcium sulfonate thickeners is expected to grow because of their better performance in industries such as mining, industry insiders said at a conference in Singapore.
More than 75 percent of the worlds lubricating grease is thickened with lithium hydroxide or lithium complex soap - but over 90 percent of the grease made each year in India is. Now Indias grease manufacturers say lithium hydroxide has been priced beyond their grasp, as electric cars and consumer electronics devour every available kilogram.
More than half of all grease produced during 2015 was made in the Asia-Pacific region, according to the National Lubricating Grease Institutes Grease Production Survey Report, which was released last week.
China was the worlds largest producer of grease in 2014, according to data provided by companies participating in the National Lubricating Grease Institutes latest global production survey, released last week.