Price for Lubricating Preparations Not for the Treatment of Materials in the Philippines - 2023
Contents:
- Price for Lubricating Preparations Not for the Treatment of Materials in the Philippines (CIF) - 2023
- Price for Lubricating Preparations Not for the Treatment of Materials in the Philippines (FOB) - 2022
- Imports of Lubricating Preparations Not for the Treatment of Materials in the Philippines
- Exports of Lubricating Preparations Not for the Treatment of Materials in the Philippines
Price for Lubricating Preparations Not for the Treatment of Materials in the Philippines (CIF) - 2023
In September 2023, the average import price for lubricating preparations not for the treatment of materials amounted to $7,539 per ton, picking up by 18% against the previous month. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 when the average import price increased by 34% month-to-month. Over the period under review, average import prices attained the peak figure at $9,060 per ton in March 2023; however, from April 2023 to September 2023, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was Japan ($24,159 per ton), while the price for Indonesia ($2,181 per ton) was amongst the lowest.
From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by the UK (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Lubricating Preparations Not for the Treatment of Materials in the Philippines (FOB) - 2022
In 2022, the average export price for lubricating preparations not for the treatment of materials amounted to $2,989 per ton, which is down by -2.7% against the previous year. Over the period under review, export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for lubricating preparations not for the treatment of materials increased by +23.4% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 43% against the previous year. The export price peaked at $3,872 per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($5,409 per ton), while the average price for exports to Bangladesh ($1,277 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+21.2%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Lubricating Preparations Not for the Treatment of Materials in the Philippines
Imports of lubricating preparations not for the treatment of materials into the Philippines declined markedly to 14K tons in 2022, which is down by -17.2% against the previous year. In general, imports faced a abrupt contraction. The smallest decline of -8.8% was in 2021.
In value terms, imports of lubricating preparations not for the treatment of materials dropped to $102M in 2022. The total import value increased at an average annual rate of +3.1% over the period from 2019 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 16% against the previous year. As a result, imports attained the peak of $108M, and then shrank in the following year.
| Import of Lubricating Preparations Not for the Treatment of Materials in the Philippines (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Japan | 31.8 | 44.5 | 52.8 | 46.6 | 13.6% |
| United States | 10.3 | 7.5 | 12.0 | 14.9 | 13.1% |
| Singapore | 14.3 | 9.5 | 12.0 | 8.2 | -16.9% |
| Germany | 8.3 | 5.9 | 6.7 | 5.3 | -13.9% |
| Malaysia | 2.2 | 1.8 | 3.3 | 5.0 | 31.5% |
| China | 6.5 | 4.9 | 5.5 | 4.5 | -11.5% |
| Thailand | 3.2 | 5.6 | 4.0 | 4.2 | 9.5% |
| Indonesia | 0.7 | 1.3 | 0.9 | 2.8 | 58.7% |
| Taiwan (Chinese) | 1.4 | 1.7 | 1.2 | 1.0 | -10.6% |
| South Korea | 3.8 | 2.7 | 0.8 | 1.0 | -35.9% |
| Spain | 0.1 | 0.2 | 1.1 | 0.5 | 71.0% |
| Russia | 4.1 | 0.3 | N/A | N/A | -92.7% |
| Others | 6.5 | 6.8 | 7.3 | 8.2 | 8.1% |
| Total | 93.1 | 92.6 | 108 | 102 | 3.1% |
Top Suppliers of Lubricating Preparations Not for the Treatment of Materials to the Philippines in 2022:
- Japan (3.1K tons)
- United States (2.5K tons)
- Indonesia (1.9K tons)
- China (1.5K tons)
- Singapore (1.3K tons)
- Thailand (1.1K tons)
- Malaysia (0.6K tons)
- Germany (0.6K tons)
- Spain (0.6K tons)
- Taiwan (Chinese) (0.3K tons)
- South Korea (0.2K tons)
Exports of Lubricating Preparations Not for the Treatment of Materials in the Philippines
In 2022, approx. 2.3K tons of lubricating preparations not for the treatment of materials were exported from the Philippines; falling by -7.7% compared with 2021. Over the period under review, exports showed a pronounced reduction. The most prominent rate of growth was recorded in 2021 with an increase of 5.7%. As a result, the exports attained the peak of 2.5K tons, and then shrank in the following year.
In value terms, exports of lubricating preparations not for the treatment of materials reduced to $6.8M in 2022. The total export value increased at an average annual rate of +4.2% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 34% against the previous year. As a result, the exports reached the peak of $7.5M, and then dropped in the following year.
| Export of Lubricating Preparations Not for the Treatment of Materials in the Philippines (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 2,379 | 2,203 | 2,469 | 2,820 | 5.8% |
| Thailand | 509 | 409 | 567 | 983 | 24.5% |
| Indonesia | 527 | 365 | 627 | 696 | 9.7% |
| Malaysia | 813 | 844 | 1,238 | 681 | -5.7% |
| Vietnam | 440 | 532 | 570 | 504 | 4.6% |
| Bangladesh | 331 | 412 | 467 | 329 | -0.2% |
| Taiwan (Chinese) | 80.8 | 116 | 235 | 195 | 34.1% |
| Sierra Leone | N/A | N/A | 995 | N/A | 0% |
| Others | 900 | 737 | 373 | 558 | -14.7% |
| Total | 5,980 | 5,618 | 7,540 | 6,765 | 4.2% |
Top Export Markets for Lubricating Preparations Not for the Treatment of Materials from the Philippines in 2022:
- China (951.2 tons)
- Thailand (341.1 tons)
- Bangladesh (257.9 tons)
- Vietnam (195.6 tons)
- Indonesia (188.2 tons)
- Malaysia (125.9 tons)
- Taiwan (Chinese) (78.0 tons)
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This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in the Philippines.
638
This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
327
This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in the Philippines.
638
This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
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