Lubricant Additives Market - The U.S. Ranked First Globally in Exports of Prepared Additives for Mineral Oils, with $3.2B in 2014

Other Household –°hemicals July 27, 2015
Author: Svetlana Sitkova
Head of Industrial Research Department

lubricant additives market

The U.S. continued its dominance on the lubricant additives market. In 2014, the U.S. exported 878 thousand tonnes of prepared additives for mineral oils totaling 3,204 million USD, 4% under the previous year. Its primary trading partner was Singapore, where it supplied 13.4% of its total prepared additives for mineral oils exports, accounting for 46.9% of Singapore's total imports.

Overall, the global prepared additives for mineral oils trade reached 12.1 billion USD, with a CAGR of 6.4% from 2007 to 2014. The trade also displayed positive dynamics in physical terms, rising from 3,173 thousand tonnes in 2007 to 3,626 thousand tonnes in 2014.

In 2014, China (10.9%), Singapore (8.5%), Belgium (7.8%), Germany (7.7%) and France (5.8%) were the leading destinations of prepared additives for mineral oils imports, together making up 40.8% of global imports. The share of China increased (+5 percentage points), while the share of the Netherlands illustrated negative dynamics (-1 percentage points).

The U.S., France and Singapore were the main global suppliers of prepared additives for mineral oils in 2014, with a combined share of 63.0% of global exports. However, the fastest growing exporters from 2007 to 2014 were Belarus (+44.9% per year) and Singapore (+11.7% per year). With this rapid growth, Singapore was able to strengthen its position in the global export structure, from 11% in 2007 to 16% in 2014.

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Source: World: Prepared Additives For Mineral Oils - Market Report. Analysis and Forecast to 2020