In the January 2024 edition of Lubes'N 'Greases magazine, Lubrizol Additives President Flavio Kliger shares his perspective on trends that will shape the global lubricants industry in 2024 and beyond. He sees population growth, increasing urbanization and other broad demographic shifts as drivers for the biggest industry changes.

Sustainability efforts will continue in this year, Kliger predicts, as evolving governmental emissions rules require vehicle manufacturers to further reduce CO₂ emissions in new vehicles. Beyond sustainability, new technology will bring even more changes to the types of fuels that power ICE vehicles. Manufacturers will also work to improve the range and reduce the cost of battery-electric vehicles to deliver on consumer demand. A third major trend identified by Kliger for 2024 is the impact of smart manufacturing, or Industry 4.0, on the lubricant industry. Because manufacturing processes are increasingly digitized and data systems are used more often to evaluate performance and make decisions, operators can be expected to know as much about the data systems at work as the lubricants themselves.

Read the full article "Why These Key Trends Will Shape the Lubricants Industry in 2024" in Lubes'N'Greases.