Japan’s production and sales of finished lubricating oils both fell in November, compared to the same month of last year, continuing what has been a trend in the second half of 2024.
Lube manufacturers in the country made 172,136 kiloliters of lube oils during the month, according to the latest data from the Ministry of Economy, Trade and Industry, 8% less than the 186,294 kL produced 12 months earlier. Domestic sales was off by 11% at 143,164 kL, compared to 160,318 kL in November of 2023.
Lubricating grease production rose to 5,206 metric tons, 4% higher year to year, while grease sales within the country were flat at 3,895 tons.
Japan is one of the world’s largest lubricant markets, but sales have shrunk in recent years along with the overall demand for energy and oil products. Faced with that trend, suppliers have focused on boosting sales in foreign markets through exports and overseas production.
Exports of lubricating oils and greases both fell in November, the former 17% to 23,973 kL, the latter 40% to 23 tons.
Japan imports smaller amounts of lubricants, but those numbers were up in November. The country imported 18,586 kL of lube oils, a year-to-year increase of 33%, while grease imports climbed 58% to 160 tons.