Asia: Lubricant Additives Market 2024

Lubricant Additives Market Size in Asia

In 2022, the Asian lubricant additives market increased by X% to $X, rising for the second year in a row after four years of decline. In general, consumption, however, saw a slight setback. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Lubricant Additives Production in Asia

In value terms, lubricant additives production shrank slightly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Lubricant Additives Exports

Exports in Asia

In 2022, the amount of prepared additives for mineral oils exported in Asia soared to X tons, picking up by X% against the previous year. In general, exports recorded a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives exports surged to $X in 2022. Total exports indicated a resilient 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 attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Singapore (X tons) and Oman (X tons) represented the key exporters of prepared additives for mineral oils in Asia, together recording near X% of total exports. China (X tons) ranks next in terms of the total exports with a X% share, followed by India (X%) and the United Arab Emirates (X%). South Korea (X tons) and Japan (X tons) held a relatively small share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Oman (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

In Singapore, lubricant additives exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: China (X% per year) and Oman (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, declining by X% against the previous year. In general, the export price saw a noticeable setback. The pace of growth appeared the most rapid in 2018 when the export price increased by X% against the previous year. 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.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Oman ($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 more modest paces of growth.

Lubricant Additives Imports

Imports in Asia

In 2022, the amount of prepared additives for mineral oils imported in Asia contracted modestly to X tons, waning by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then dropped slightly in the following year.

In value terms, lubricant additives imports reached $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X tons), Singapore (X tons) and the United Arab Emirates (X tons) represented roughly X% of total imports in 2022. South Korea (X tons) ranks next in terms of the total imports with a X% share, followed by Japan (X%), Indonesia (X%), India (X%) and Thailand (X%). Turkey (X tons), Oman (X tons), Malaysia (X tons), Pakistan (X tons) and Taiwan (Chinese) (X tons) took a minor share of total imports.

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

In value terms, China ($X), Singapore ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. South Korea, Japan, India, Thailand, Indonesia, Turkey, Malaysia, Oman, Taiwan (Chinese) and Pakistan lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, 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 amounted to $X per ton, picking up by X% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was India ($X per ton), while Oman ($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.

Source: IndexBox Platform

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