Asia: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Asia

The Asian lubricating oil additive market reached $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Lubricating Oil Additive Production in Asia

In value terms, lubricating oil additive production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Lubricating Oil Additive Exports

Exports in Asia

Lubricating oil additive exports stood at X tons in 2022, surging by X% on 2021 figures. Total exports indicated resilient growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2013 indices. The pace of growth appeared the most rapid in 2013 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, lubricating oil additive exports surged to $X in 2022. Total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore represented the key exporter of additives for lubricating oils in Asia, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. China (X tons) ranks second in terms of the total exports with a X% share, followed by the United Arab Emirates (X%) and South Korea (X%). The following exporters - India (X tons) and Japan (X tons) - together made up X% of total exports.

Exports from Singapore increased at an average annual rate of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%), China (X%), South Korea (X%), India (X%) and Japan (X%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. While the share of China (X p.p.), the United Arab Emirates (X p.p.), South Korea (X p.p.) and India (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest lubricating oil additive supplier in Asia, comprising X% of total exports. The second position in the ranking was held by China ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

In Singapore, lubricating oil additive exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, with an increase of X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($X 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 Arab Emirates (X%), while the other leaders experienced mixed trends in the export price figures.

Lubricating Oil Additive Imports

Imports in Asia

In 2022, the amount of additives for lubricating oils imported in Asia dropped to X tons, which is down by X% on the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, lubricating oil additive imports stood at $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

China (X tons) and Singapore (X tons) were the major importers of additives for lubricating oils in 2022, resulting at near X% and X% of total imports, respectively. It was distantly followed by the United Arab Emirates (X tons), Japan (X tons), South Korea (X tons), Indonesia (X tons), India (X tons), Thailand (X tons) and Turkey (X tons), together making up a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by the United Arab Emirates (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricating oil additive importing markets in Asia were China ($X), Singapore ($X) and the United Arab Emirates ($X), with a combined X% share of total imports.

The United Arab Emirates, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, growing by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in India ($X per ton) and South Korea ($X per ton), while the United Arab Emirates ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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