Grease demand survives on mining, US farming in 2012

17 October 2012 00:10  [Source: ICIS news]

SCOTTSDALE, Arizona (ICIS)--Grease demand has held steady in 2012 as a result of strong industrial markets, particularly mining and farming, a supplier said on Tuesday.

Grease, a downstream lubricant product made from base oils, is mainly used in industrial and automotive applications.

“Industrial demand for greases used in mining operations is doing well, and 2012 demand has been good for the grease business,” a supplier said on the sidelines of the Independent Lubricant Manufacturers Association (ILMA) annual meeting.

A strong cotton market is also helping the grease industry, as the lubricant is used in heavy farming equipment, the supplier said.

Although US cotton growers have planted fewer acres in 2012 because of heavy rains in the southeast, the 2012 cotton crop is still expected to be up by 11% from 2011 production, according to the US Department of Agriculture (USDA).

The ILMA meeting ends on Wednesday, October 17.

By: Heather McGuire Doyle
+1 713 525 2653

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