Republic of Korea - Prepared Additives For Mineral Oils - Market Analysis, Forecast, Size, Trends and Insights
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View PricingLubricant Additives Price in South Korea - 2022
Contents:
- Lubricant Additives Price in South Korea (CIF) - 2022
- Lubricant Additives Price in South Korea (FOB) - 2022
- Lubricant Additives Imports in South Korea
- Lubricant Additives Exports in South Korea
Lubricant Additives Price in South Korea (CIF) - 2022
In December 2022, the average lubricant additives import price amounted to $4,893 per ton, almost unchanged from the previous month. In general, the import price, however, continues to indicate a modest increase. The pace of growth appeared the most rapid in June 2022 when the average import price increased by 8.7% against the previous month. Over the period under review, average import prices attained the maximum at $4,910 per ton in November 2022, and then contracted slightly in the following month.
There were significant differences in the average prices amongst the major supplying countries. In December 2022, the country with the highest price was France ($7,669 per ton), while the price for India ($3,262 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was attained by Japan (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Lubricant Additives Price in South Korea (FOB) - 2022
The average lubricant additives export price stood at $2,934 per ton in December 2022, picking up by 5.6% against the previous month. Over the last twelve-month period, it increased at an average monthly rate of +1.2%. The pace of growth appeared the most rapid in November 2022 when the average export price increased by 7% month-to-month. The export price peaked in December 2022.
Prices varied noticeably by the country of destination: the country with the highest price was Australia ($3,941 per ton), while the average price for exports to Italy ($2,421 per ton) was amongst the lowest.
From December 2021 to December 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+2.1%), while the prices for the other major destinations experienced more modest paces of growth.
Lubricant Additives Imports in South Korea
In 2022, imports of prepared additives for mineral oils into South Korea declined to 105K tons, waning by -5.5% compared with 2021. Over the period under review, imports recorded a mild curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 12% against the previous year. As a result, imports reached the peak of 112K tons, and then declined in the following year.
In value terms, lubricant additives imports reduced to $432M in 2022. Overall, imports saw a mild contraction. The pace of growth was the most pronounced in 2021 when imports increased by 13% against the previous year. As a result, imports attained the peak of $458M, and then declined in the following year.
| Import of Lubricant Additives in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 146 | 138 | 169 | 166 | 4.4% |
| United States | 113 | 102 | 99.6 | 94.1 | -5.9% |
| Germany | 37.2 | 36.1 | 38.4 | 46.3 | 7.6% |
| China | 32.3 | 42.0 | 39.4 | 38.8 | 6.3% |
| France | 53.8 | 25.3 | 34.9 | 37.2 | -11.6% |
| Japan | 27.3 | 21.9 | 25.9 | 15.6 | -17.0% |
| India | 6.8 | 6.3 | 8.0 | 7.8 | 4.7% |
| Italy | 11.0 | 9.1 | 11.1 | 6.8 | -14.8% |
| Others | 22.0 | 25.5 | 32.3 | 20.0 | -3.1% |
| Total | 449 | 406 | 458 | 432 | -1.3% |
Top Suppliers of Lubricant Additives to South Korea in 2022:
- Singapore (46.3K tons)
- United States (19.3K tons)
- China (11.9K tons)
- Germany (10.2K tons)
- France (6.2K tons)
- Japan (2.8K tons)
- India (2.4K tons)
- Italy (1.7K tons)
Lubricant Additives Exports in South Korea
In 2022, approx. 45K tons of prepared additives for mineral oils were exported from South Korea; picking up by 7.3% on 2021. The total export volume increased at an average annual rate of +9.1% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 39%. As a result, the exports reached the peak of 48K tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.
In value terms, lubricant additives exports fell slightly to $118M in 2022. The total export value increased at an average annual rate of +9.2% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when exports increased by 25%.
| Export of Lubricant Additives in South Korea (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 23.8 | 31.9 | 49.6 | 39.7 | 18.6% |
| Italy | 21.1 | 18.5 | 15.5 | 29.3 | 11.6% |
| Singapore | 14.0 | 19.8 | 18.7 | 15.0 | 2.3% |
| United States | 7.2 | 8.6 | 8.0 | 6.5 | -3.4% |
| Vietnam | 6.0 | 8.0 | 7.0 | 5.6 | -2.3% |
| Australia | 3.3 | 4.1 | 3.7 | 4.4 | 10.1% |
| India | 4.2 | 4.7 | 4.7 | 3.7 | -4.1% |
| Malaysia | 0.8 | 3.3 | 3.9 | 3.1 | 57.1% |
| Japan | 1.6 | 3.0 | 3.4 | 2.8 | 20.5% |
| Others | 8.5 | 10.6 | 8.3 | 7.4 | -4.5% |
| Total | 90.4 | 113 | 123 | 118 | 9.3% |
Top Export Markets for Lubricant Additives from South Korea in 2022:
- China (23.5K tons)
- Italy (6.6K tons)
- Singapore (5.3K tons)
- United States (1.8K tons)
- Vietnam (1.6K tons)
- Malaysia (1.2K tons)
- India (1.1K tons)
- Australia (1.0K tons)
- Japan (0.8K tons)
This report provides an in-depth analysis of the lubricant additives market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20594250 - Anti-knock preparations
- Prodcom 20594270 - Additives for lubricating oils
- Prodcom 20594290 - Additives for mineral oils or for other liquids used for the same purpose as mineral oils (including gasoline) (excluding anti-knock preparations, additives for lubricating oils)
Country coverage:
- South Korea
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Republic of Korea
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
439
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This report provides an in-depth analysis of the lubricating oil additive market in Republic of Korea.
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