Asia's lubes, base-oil market on verge of recovery

Click here to enlarge imageDemand for Asia-Pacific lubricant base oils will grow by 4%/year to 2010. The expanding lubricant sectors in China and India will largely fuel this growth, according to a study by market analyst FACTS Inc., Honolulu. The study predicts that base-oil demand will not equal regional supply until 2004, as a result of a capacity overhang that grew to 1.8 million tonnes/year prior to Asia's economic crisis.During Asia's precrisis period, 1990-96, Asia-Pacific lubricants demand rose 2.5%/year before peaking at 9.9 million tonnes in 1997 (Fig. 1a). After the crash of the Asia-Pacific lubricants market, regional demand fell by 4%. Malaysia, Thailand, and South ...

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