Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Canada - 2024
Contents:
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Canada (CIF) - 2024
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Canada (FOB) - 2024
- Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Canada
- Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Canada
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Canada (CIF) - 2024
The average import price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses stood at $5,207 per ton in January 2024, declining by -9.1% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in April 2023 an increase of 14% against the previous month. As a result, import price attained the peak level of $6,565 per ton. From May 2023 to January 2024, the average import prices remained at a somewhat lower figure.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From January 2023 to January 2024, the rate of growth in terms of prices for the United States amounted to -0.5% per month.
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Canada (FOB) - 2024
The average export price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses stood at $4,081 per ton in January 2024, remaining relatively unchanged against the previous month. In general, the export price recorded a mild contraction. The most prominent rate of growth was recorded in August 2023 an increase of 244% against the previous month. As a result, the export price reached the peak level of $15,812 per ton. From September 2023 to January 2024, the the average export prices remained at a lower figure.
Average prices varied somewhat for the major external markets. In January 2024, the countries with the highest prices were the Netherlands ($4,357 per ton) and Japan ($4,261 per ton), while the average price for exports to Brazil ($3,332 per ton) and Argentina ($3,384 per ton) were amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+0.6%), while the prices for the other major destinations experienced a decline.
Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Canada
In 2022, overseas purchases of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses were finally on the rise to reach 53K tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports showed a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses soared to $263M in 2022. Over the period under review, total imports indicated prominent growth from 2019 to 2022: its value increased at an average annual rate of +11.8% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +49.4% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 183 | 172 | 184 | 254 | 11.5% |
| Others | 5.6 | 4.5 | 6.0 | 9.3 | 18.4% |
| Total | 188 | 176 | 190 | 263 | 11.8% |
Top Suppliers of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals to Canada in 2022:
- United States (51.5K tons)
Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Canada
In 2022, the amount of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses exported from Canada shrank dramatically to 29K tons, falling by -29.4% compared with the previous year. Over the period under review, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 17%. As a result, the exports reached the peak of 41K tons, and then declined sharply in the following year.
In value terms, exports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses declined to $124M in 2022. Overall, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 24% against the previous year. As a result, the exports reached the peak of $135M, and then dropped in the following year.
| Export of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 101 | 81.6 | 93.3 | 77.6 | -8.4% |
| Japan | 11.9 | 10.0 | 12.6 | 12.6 | 1.9% |
| Singapore | 1.9 | 2.5 | 9.7 | 8.6 | 65.4% |
| South Korea | 2.3 | 3.0 | 4.1 | 4.8 | 27.8% |
| China | 2.6 | 3.5 | 4.1 | 4.6 | 20.9% |
| Netherlands | 0.9 | 1.3 | 2.0 | 3.4 | 55.7% |
| Brazil | 1.0 | 1.5 | 1.5 | 2.4 | 33.9% |
| Taiwan (Chinese) | 1.4 | 1.5 | 1.6 | 2.2 | 16.3% |
| Australia | 0.2 | 1.6 | 1.3 | 1.9 | 111.8% |
| Others | 3.5 | 2.5 | 5.0 | 5.6 | 17.0% |
| Total | 127 | 109 | 135 | 124 | -0.8% |
Top Export Markets for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals from Canada in 2022:
- United States (16.8K tons)
- Japan (3.0K tons)
- Singapore (2.7K tons)
- China (1.2K tons)
- South Korea (1.1K tons)
- Brazil (0.9K tons)
- Netherlands (0.8K tons)
- Taiwan (Chinese) (0.6K tons)
- Australia (0.4K tons)
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