INDUSTRY RUNDOWN International Insight Where to Go With a Flat Global Market By Lam Lye Ching The global lubricant market is expected to remain relatively flat for the rest of 2018. However, experts say lubricant manufacturers may find opportunities in volume growth markets such as Africa and South America, as well as quality lubricant markets like Asia and the Middle East. International consultancy and ILMA member Kline & Co. notes that global lubricant demand is expected to reach 41 million tons by 2021 - a slight increase from 2016's volume of 39.6 million tons. Since the plunge in lubricant demand during the recession of 2009, growth has been limited. 18 MAY 2018 | COMPOUNDINGS | ILMA.ORG "Recovery is essentially flat," said George Morvey, industry manager for Kline's Energy Practice. Economies in Africa and the Middle East are expected to continue to grow. "Wealth and a growing middle class is good for lubricant demand - both industrial and automotive. There are plenty of bright spots on the continent," Morvey noted. This year, the growth rate of premium light vehicle sales in the Middle East and Africa is expected to increase by about 9.1 percent, compared with the previous year, according to Germany-based Statista. The National Association of Automobile Manufacturers of South Africa also expects positivehttp://www.ILMA.ORG