Belarus: Lubricating Oil Additive Market 2022

Lubricating Oil Additive Market Size in Belarus

The Belarusian lubricating oil additive market soared to $X in 2021, picking up by 17% against the previous year. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. Lubricating oil additive consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Lubricating Oil Additive Production in Belarus

In value terms, lubricating oil additive production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 15%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Lubricating Oil Additive Exports

Exports from Belarus

In 2021, after five years of growth, there was significant decline in overseas shipments of additives for lubricating oils, when their volume decreased by -12.5% to X tons. Over the period under review, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2019 when exports increased by 55% against the previous year. The exports peaked at X tons in 2020, and then dropped in the following year.

In value terms, lubricating oil additive exports expanded modestly to $X in 2021. Overall, exports, however, enjoyed a tangible expansion. The growth pace was the most rapid in 2019 when exports increased by 30%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Russia (X tons) was the main destination for lubricating oil additive exports from Belarus, accounting for a 44% share of total exports. Moreover, lubricating oil additive exports to Russia exceeded the volume sent to the second major destination, Singapore (X tons), twofold. The Netherlands (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia totaled +1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+39.5% per year) and the Netherlands (+29.8% per year).

In value terms, Russia ($X), Singapore ($X) and the Netherlands ($X) constituted the largest markets for lubricating oil additive exported from Belarus worldwide, together comprising 71% of total exports. The United Arab Emirates, Germany, Kazakhstan and South Korea lagged somewhat behind, together accounting for a further 23%.

South Korea, with a CAGR of +88.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lubricating oil additive export price amounted to $X per ton, picking up by 17% against the previous year. Overall, the export price, however, showed a perceptible decrease. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-1.2%), while the prices for the other major destinations experienced a decline.

Lubricating Oil Additive Imports

Imports into Belarus

In 2021, after three years of growth, there was significant decline in supplies from abroad of additives for lubricating oils, when their volume decreased by -5.1% to X tons. Over the period under review, imports, however, showed buoyant growth. The pace of growth was the most pronounced in 2019 with an increase of 279% against the previous year. Imports peaked at X tons in 2020, and then contracted in the following year.

In value terms, lubricating oil additive imports rose modestly to $X in 2021. In general, imports, however, continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2019 with an increase of 158% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of lubricating oil additive to Belarus, accounting for a 80% share of total imports. Moreover, lubricating oil additive imports from Russia exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was taken by Belgium (X tons), with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia amounted to +24.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+54.8% per year) and Belgium (+78.1% per year).

In value terms, Russia ($X) constituted the largest supplier of lubricating oil additive to Belarus, comprising 73% of total imports. The second position in the ranking was taken by China ($X), with a 15% share of total imports. It was followed by Belgium, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value from Russia amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+51.0% per year) and Belgium (+54.9% per year).

Import Prices by Country

In 2021, the average lubricating oil additive import price amounted to $X per ton, increasing by 10% against the previous year. Overall, the import price, however, continues to indicate a noticeable descent. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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