Asia-Pacific: Lubricant Additives Market 2024

Lubricant Additives Market Size in Asia-Pacific

The Asia-Pacific lubricant additives market dropped modestly to $X in 2022, leveling off at the previous year. Over the period under review, consumption saw a noticeable decrease. The most prominent rate of growth was recorded in 2016 with an increase of X%. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Lubricant Additives Production in Asia-Pacific

In value terms, lubricant additives production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced shrinkage. The pace of growth appeared the most rapid in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

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Lubricant Additives Exports

Exports in Asia-Pacific

Lubricant additives exports stood at X tons in 2022, increasing by X% compared with the previous year. Total exports indicated a buoyant increase 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 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X%. The volume of export peaked in 2022 and is likely to see steady growth in years to come.

In value terms, lubricant additives exports skyrocketed to $X in 2022. The total export 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. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore was the major exporter of prepared additives for mineral oils in Asia-Pacific, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. China (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by India (X%) and South Korea (X%). Japan (X tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to lubricant additives exports from Singapore stood at X%. At the same time, China (X%), South Korea (X%), India (X%) and Japan (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. China (X p.p.), India (X p.p.) and South Korea (X p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest lubricant additives supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports. It was followed by India, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Singapore totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and India (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 India (X%), while the other leaders experienced more modest paces of growth.

Lubricant Additives Imports

Imports in Asia-Pacific

In 2022, imports of prepared additives for mineral oils in Asia-Pacific contracted to X tons, which is down by X% compared with the year before. The total import volume 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 observed in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, lubricant additives imports rose remarkably to $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 somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

China (X tons) and Singapore (X tons) were the largest importers of prepared additives for mineral oils in 2022, accounting for approx. X% and X% of total imports, respectively. South Korea (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Japan (X%), Indonesia (X%), India (X%) and Thailand (X%). Australia (X tons) followed a long way behind the leaders.

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

In value terms, the largest lubricant additives importing markets in Asia-Pacific were China ($X), Singapore ($X) and South Korea ($X), together comprising X% of total imports. Japan, India, Thailand, Indonesia and Australia lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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

In 2022, the import price in Asia-Pacific amounted to $X per ton, increasing by X% against the previous year. Overall, the import price recorded 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 noticeably 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 Singapore ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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