The changes in the global base oil market and their potential impact on the grease industry

摘要

The global base oil market is going through a period of great changes and challenges. First, the rationalization of Group I production is not anymore a possible scenario, but has become reality. Secondly, the global capacity of Group II and Group III base oils has significantly increased during the last years and new capacity has been announced to come on stream in the coming years. In the unpredictability of global events, one thing appears quite likely and that is that the future base oil market will be very different from the way it looks today.