Shell said last week that it remained the world’s largest finished lubricant supplier in 2023 – the 18th consecutive year that the British company has held the industry’s pole position.
The company cited findings by Kline & Co. consulting firm, which estimated that Shell accounted for 11.6% of worldwide lube sales last year. Shell’s Nov. 21 news release did not quantify its sales or global demand, but Kline estimated a year ago that global demand was 39 million metric tons in 2022. Global lube demand has been trending slowly downward since 2019.
Shell said it’s finished lube business divided almost evenly between the consumer, commercial and industrial segments, which accounted for 36%, 31% and 33% of its sales, respectively, on a volume basis.
The company operates 32 fluid lubricant blending plants worldwide and 10 grease plants, along with 4 base oil plants, including joint ventures.
The news release did not mention the rankings of any other lube marketers, but ExxonMobil has been the second-largest supplier since Shell moved ahead of the American energy giant in 2006.
Kline’s findings are part of its industry report, “Global Lubricants: Market Analysis and Assessment 2023.”