Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the Philippines - 2023
Contents:
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the Philippines (CIF) - 2022
- Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the Philippines
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the Philippines (CIF) - 2022
In 2022, the average import price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses amounted to $4,895 per ton, increasing by 18% against the previous year. Over the last decade, it increased at an average annual rate of +1.5%. The most prominent rate of growth was recorded in 2018 an increase of 20%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in the near future.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($8,498 per ton), while the price for the United Arab Emirates ($3,537 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+28.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the Philippines
Imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses into the Philippines reduced to 5.1K tons in 2022, with a decrease of -10.9% against the previous year. Overall, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of 7.8% against the previous year.
In value terms, imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses rose markedly to $25M in 2022. Over the period under review, imports recorded a noticeable setback.
| Import of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 17.3 | 15.8 | 17.6 | 15.8 | -3.0% |
| United States | 2.9 | 2.8 | 2.3 | 3.7 | 8.5% |
| Thailand | 2.3 | 0.5 | 0.4 | 1.8 | -7.8% |
| China | N/A | N/A | 0.2 | 1.7 | 750.0% |
| Italy | 0.1 | 0.1 | 0.2 | 0.6 | 81.7% |
| United Arab Emirates | 0.4 | 0.2 | 0.3 | 0.5 | 7.7% |
| United Kingdom | 4.4 | 1.4 | 1.5 | 0.2 | -64.3% |
| Others | 1.4 | 2.0 | 1.4 | 0.8 | -17.0% |
| Total | 28.8 | 22.9 | 23.9 | 25.1 | -4.5% |
Top Suppliers of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals to the Philippines in 2022:
- Singapore (3709.1 tons)
- United States (435.5 tons)
- China (306.9 tons)
- Thailand (273.2 tons)
- United Arab Emirates (145.3 tons)
- Italy (112.3 tons)
- United Kingdom (48.2 tons)
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