Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the UK - 2023
Contents:
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the UK (CIF) - 2023
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the UK (FOB) - 2023
- Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the UK
- Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the UK
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the UK (CIF) - 2023
In December 2023, the average import price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses amounted to $4,683 per ton, reducing by -1.7% against the previous month. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in November 2023 when the average import price increased by 8.5% m-o-m. Over the period under review, average import prices hit record highs at $5,247 per ton in December 2022; however, from January 2023 to December 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($5,718 per ton), while the price for China ($2,985 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was attained by Germany (+1.9%), while the prices for the other major suppliers experienced a decline.
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the UK (FOB) - 2023
The average export price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses stood at $4,420 per ton in December 2023, shrinking by -2.1% against the previous month. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in June 2023 an increase of 11% against the previous month. As a result, the export price attained the peak level of $5,118 per ton. From July 2023 to December 2023, the the average export prices failed to regain momentum.
There were significant differences in the average prices for the major overseas markets. In December 2023, the country with the highest price was France ($13,035 per ton), while the average price for exports to Algeria ($3,081 per ton) was amongst the lowest.
From December 2022 to December 2023, the most notable rate of growth in terms of prices was recorded for supplies to Sudan (+29.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the UK
In 2022, overseas purchases of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses were finally on the rise to reach 29K tons after two years of decline. Overall, imports, however, saw a abrupt slump.
In value terms, imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses soared to $126M in 2022. The total import value increased at an average annual rate of +4.4% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| France | 50.7 | 41.5 | 42.2 | 51.5 | 0.5% |
| Italy | 15.2 | 19.2 | 10.7 | 28.4 | 23.2% |
| Belgium | 29.2 | 24.1 | 16.4 | 16.4 | -17.5% |
| United States | 2.7 | 4.3 | 4.9 | 11.4 | 61.6% |
| Germany | 5.8 | 6.7 | 6.8 | 10.3 | 21.1% |
| Netherlands | 4.8 | 4.1 | 4.5 | 2.6 | -18.5% |
| Others | 2.8 | 2.7 | 3.3 | 5.8 | 27.5% |
| Total | 111 | 103 | 88.8 | 126 | 4.3% |
Top Suppliers of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals to the UK in 2022:
- France (12.6K tons)
- Italy (6.5K tons)
- Belgium (4.0K tons)
- Germany (2.1K tons)
- United States (2.0K tons)
- Netherlands (0.6K tons)
Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the UK
In 2022, approx. 14K tons of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses were exported from the UK; increasing by 7.6% against 2021. Over the period under review, total exports indicated strong growth from 2019 to 2022: its volume increased at an average annual rate of +13.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.7% against 2019 indices. The pace of growth appeared the most rapid in 2021 with an increase of 33% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the near future.
In value terms, exports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses skyrocketed to $55M in 2022. In general, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 58%. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see steady growth in the near future.
| Export of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in the UK (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Italy | 1.3 | 1.2 | 9.5 | 15.8 | 129.9% |
| Belgium | 3.1 | 4.1 | 6.1 | 7.6 | 34.8% |
| Germany | 4.4 | 5.4 | 7.4 | 5.2 | 5.7% |
| Netherlands | 0.5 | 1.0 | 4.2 | 5.0 | 115.4% |
| Sudan | 6.7 | 6.0 | 3.5 | 3.9 | -16.5% |
| Poland | 0.7 | 0.6 | 1.8 | 1.8 | 37.0% |
| France | 0.1 | 1.4 | 2.0 | 1.8 | 162.1% |
| Spain | 0.4 | 0.9 | 1.6 | 1.7 | 62.0% |
| Turkey | 0.7 | 0.7 | 0.5 | 1.6 | 31.7% |
| Lithuania | N/A | 0.1 | 0.8 | 1.3 | 260.6% |
| Austria | 1.0 | 0.4 | 0.5 | 0.9 | -3.5% |
| Algeria | 0.8 | 1.1 | 0.6 | 0.4 | -20.6% |
| Others | 6.1 | 6.8 | 8.3 | 8.1 | 9.9% |
| Total | 25.7 | 29.6 | 46.7 | 55.1 | 28.9% |
Top Export Markets for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals from the UK in 2022:
- Italy (3.7K tons)
- Belgium (2.7K tons)
- Germany (1.5K tons)
- Sudan (1.4K tons)
- Netherlands (1.0K tons)
- Turkey (0.4K tons)
- Poland (0.4K tons)
- France (0.4K tons)
- Lithuania (0.3K tons)
- Spain (0.3K tons)
- Austria (0.2K tons)
- Algeria (0.1K tons)
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