Global wind energy lubricant market demand wiGloballl decline this year and next
According to "Asia Lubricants Weekly" on July 22, global consulting and research company Klein said in a recent webinar that under the current economic environment, global demand for wind energy lubricants may slow down. But there should be a rebound in subsequent years. The key market for global wind energy lubricants is still China. It is estimated that the newly installed capacity of wind turbines in China will account for nearly half of the global installed capacity in the next five years.
Klein's forecast on the demand for wind energy lubricants, whether optimistic or pessimistic, believes that the market will be affected by the economic contraction caused by the epidemic. Gabriel Tarle, head of the energy practice business project at Klein, said: “In almost all hypothetical scenarios, global wind energy lubricant consumption will decline before 2021, but there will be a V-shaped recovery in the following years. "
Klein Company estimates that the global demand for wind energy lubricants in 2019 is about 40,000 to 50,000 tons, worth 400 million to 500 million US dollars, and the total installed wind power capacity reaches 650 gigawatts. Talay said: "Although the wind turbine market only accounts for a small portion of total lubricant demand, it is an important market segment due to its rapid growth and high synthetic lubricant penetration."
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