Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Hong Kong SAR - 2023
Contents:
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Hong Kong SAR (CIF) - 2022
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Hong Kong SAR (FOB) - 2022
- Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Hong Kong SAR
- Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Hong Kong SAR
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Hong Kong SAR (CIF) - 2022
In 2022, the average import price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses amounted to $3,577 per ton, surging by 19% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $3,640 per ton in 2012; afterwards, it flattened through to 2022.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($6,636 per ton), while the price for South Korea ($3,135 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Hong Kong SAR (FOB) - 2022
The average export price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses stood at $5,744 per ton in 2022, declining by -24.4% against the previous year. Over the period under review, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2016 an increase of 28% against the previous year. As a result, the export price attained the peak level of $15,373 per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.
Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($6,595 per ton), while the average price for exports to Singapore amounted to $3,178 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (-0.1%).
Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Hong Kong SAR
In 2022, imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses into Hong Kong SAR shrank to 14K tons, which is down by -3.2% against the previous year's figure. The total import volume increased at an average annual rate of +1.8% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 23%. As a result, imports reached the peak of 15K tons, and then contracted modestly in the following year.
In value terms, imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses skyrocketed to $51M in 2022. The total import value increased at an average annual rate of +6.5% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 27% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are likely to see gradual growth in the immediate term.
| Import of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 20.5 | 23.3 | 30.5 | 33.4 | 17.7% |
| Italy | 18.0 | 6.7 | 6.5 | 9.2 | -20.0% |
| China | 0.3 | 1.3 | 3.0 | 4.9 | 153.7% |
| United States | 0.9 | 1.1 | 1.5 | 1.5 | 18.6% |
| South Korea | 0.3 | 0.4 | 0.8 | 1.1 | 54.2% |
| Netherlands | 1.7 | 1.4 | 1.0 | 0.7 | -25.6% |
| Others | 1.0 | 1.1 | 1.3 | 0.7 | -11.2% |
| Total | 42.6 | 35.3 | 44.7 | 51.4 | 6.5% |
Top Suppliers of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals to Hong Kong SAR in 2022:
- Singapore (9.9K tons)
- Italy (2.1K tons)
- China (1.5K tons)
- South Korea (0.4K tons)
- United States (0.2K tons)
- Netherlands (0.1K tons)
Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Hong Kong SAR
In 2022, overseas shipments of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses decreased by -59.1% to 358 tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 when exports increased by 74%.
In value terms, exports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses fell remarkably to $2.1M in 2022. Overall, exports faced a dramatic decrease. The most prominent rate of growth was recorded in 2021 with an increase of 25% against the previous year. As a result, the exports reached the peak of $6.7M, and then reduced notably in the following year.
| Export of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Hong Kong SAR (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 5.1 | 5.0 | 6.5 | 1.8 | -29.3% |
| Singapore | N/A | 0.3 | 0.1 | 0.3 | 0.0% |
| Others | 0.1 | 0.1 | 0.1 | N/A | 0.0% |
| Total | 5.3 | 5.3 | 6.7 | 2.1 | -26.6% |
Top Export Markets for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals from Hong Kong SAR in 2022:
- China (266.4 tons)
- Singapore (84.5 tons)
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