Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in China - 2023
Contents:
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in China (CIF) - 2023
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in China (FOB) - 2023
- Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in China
- Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in China
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in China (CIF) - 2023
In December 2023, the average import price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses amounted to $4,243 per ton, surging by 1.5% against the previous month. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in February 2023 an increase of 8.9% month-to-month. As a result, import price attained the peak level of $4,718 per ton. From March 2023 to December 2023, the average import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In December 2023, the country with the highest price was Germany ($5,810 per ton), while the price for Italy ($3,598 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by the United States (+0.6%), while the prices for the other major suppliers experienced mixed trend patterns.
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in China (FOB) - 2023
In December 2023, the average export price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses amounted to $3,029 per ton, approximately mirroring the previous month. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in January 2023 when the average export price increased by 5.6% month-to-month. The export price peaked at $3,453 per ton in February 2023; however, from March 2023 to December 2023, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Indonesia ($4,098 per ton), while the average price for exports to the United Arab Emirates ($2,370 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Indonesia (+1.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in China
Imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses into China declined remarkably to 253K tons in 2022, dropping by -27.2% on the year before. In general, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 18%. As a result, imports reached the peak of 348K tons, and then dropped significantly in the following year.
In value terms, imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses declined to $1B in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 21% against the previous year. As a result, imports attained the peak of $1.2B, and then declined in the following year.
| Import of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 550 | 509 | 569 | 463 | -5.6% |
| United States | 214 | 234 | 289 | 297 | 11.5% |
| France | 54.1 | 59.4 | 97.9 | 71.8 | 9.9% |
| Italy | 70.9 | 45.2 | 54.1 | 41.3 | -16.5% |
| South Korea | 17.3 | 21.5 | 37.2 | 39.3 | 31.5% |
| Japan | 37.0 | 39.0 | 43.0 | 37.5 | 0.4% |
| India | 16.6 | 7.0 | 11.6 | 12.8 | -8.3% |
| Others | 64.3 | 59.8 | 82.5 | 54.7 | -5.2% |
| Total | 1,025 | 974 | 1,184 | 1,017 | -0.3% |
Top Suppliers of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals to China in 2022:
- Singapore (126.1K tons)
- United States (64.8K tons)
- France (17.1K tons)
- South Korea (12.1K tons)
- Italy (11.4K tons)
- Japan (7.3K tons)
- India (4.1K tons)
Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in China
In 2022, the amount of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses exported from China soared to 202K tons, with an increase of 81% against the previous year. In general, exports enjoyed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, exports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses soared to $677M in 2022. Over the period under review, exports enjoyed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
| Export of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | 0.3 | 0.3 | 1.1 | 231 | 816.6% |
| Singapore | 87.1 | 71.9 | 101 | 133 | 15.2% |
| United Arab Emirates | 42.2 | 42.6 | 47.8 | 82.0 | 24.8% |
| South Korea | 15.9 | 22.9 | 44.7 | 78.8 | 70.5% |
| Indonesia | 17.4 | 24.6 | 18.6 | 24.8 | 12.5% |
| Hong Kong SAR | 1.7 | 4.6 | 8.2 | 10.5 | 83.5% |
| Thailand | 4.4 | 5.9 | 6.2 | 9.2 | 27.9% |
| Iran | 33.1 | 23.8 | 11.9 | 3.5 | -52.7% |
| Others | 33.3 | 42.8 | 48.3 | 105 | 46.6% |
| Total | 236 | 239 | 288 | 677 | 42.1% |
Top Export Markets for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals from China in 2022:
- Russia (60.3K tons)
- Singapore (43.7K tons)
- United Arab Emirates (28.9K tons)
- South Korea (25.0K tons)
- Indonesia (7.2K tons)
- Hong Kong SAR (3.4K tons)
- Thailand (2.8K tons)
- Iran (1.2K tons)
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