Mr. G. Krishnakumar, Executive Director - Lubes | Bharat Petroleum Corporation Limited
FACE TO FACE INTERVIEW
Q. How do you envisage the growth of industrial lubricants? Ans. We are optimistic and despite COVID-19, the industrial lubricant market will grow, at an approximate CAGR of 2.5% between 2021-2026. We are basing this on the demand for industrial lubricants for India's Automotive Mission Plans (AMP). India is destined to be amongst the top automobile manufacturing hubs in the world and this will also provide an impetus to the manufacturing sector. There is a massive push by the government on infrastructure, mining, and road development, and that too is bound to increase the demand for lubricants. We are also hopeful about the government's plans to set up mega textile parks and food parks, which will definitely add to the demand for various industrial-grade lubricants. Q. Do you think synthetic lubricant, energy-efficient lubricants and eco-friendly lubricants will penetrate the Indian market? Ans. Despite having a higher initial cost compared to conventional mineral-based lubricants, synthetic lubricants provide 3-4 times more longevity along with protection for equipment. We have reasons to believe that OEMs are driving the use of synthetic lubricants for benefits such as reduced maintenance costs, improved equipment reliability, safer operations, and suitability for emergent complex systems designs. The long drain synthetic lubricants are also gaining popularity in most of the industrial segments such as wind turbines, cement plants, textile industry, etc., due to the criticality of applications. Another fascinating trend is the increased demand for energy-conserving lubricants. When energy consumption is optimized, equipment operating costs come down, translating into business profits. A small percentage of reduction in energy consumption can translate into significant annual returns. We find that both OEMs and consumers consider it worth incurring a little extra cost on high-quality energyefficient lubricants as it balances out the investment vis-a-vis performance. The demand for eco-friendly industrial lubricants, developed from biodegradable base stocks, is on the increase, as attempts are being made to reduce 28 | November-December 2021 |
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