China: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in China

In 2022, the Chinese lubricating oil additive market decreased by X% to $X, falling for the second year in a row after three years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Lubricating Oil Additive Production in China

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% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Lubricating oil additive production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Lubricating Oil Additive Exports

Exports from China

For the eleventh year in a row, China recorded growth in shipments abroad of additives for lubricating oils, which increased by X% to X tons in 2022. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, lubricating oil additive exports skyrocketed to $X in 2022. In general, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons), Singapore (X tons) and the United Arab Emirates (X tons) were the main destinations of lubricating oil additive exports from China, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricating oil additive exported from China were Russia ($X), Singapore ($X) and the United Arab Emirates ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Russia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average lubricating oil additive export price amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($X per ton) and Indonesia ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) and Iran ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced a decline.

Lubricating Oil Additive Imports

Imports into China

Lubricating oil additive imports into China shrank rapidly to X tons in 2022, which is down by X% compared with 2021. The total import volume increased at an average annual rate of X% 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 2013 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted dramatically in the following year.

In value terms, lubricating oil additive imports dropped to $X in 2022. The total import 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 pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

Singapore (X tons), the United States (X tons) and France (X tons) were the main suppliers of lubricating oil additive imports to China, together comprising X% of total imports.

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

In value terms, Singapore ($X), the United States ($X) and France ($X) constituted the largest lubricating oil additive suppliers to China, with a combined X% share of total imports. South Korea, Japan, Italy and Germany lagged somewhat behind, together accounting for a further X%.

South Korea, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average lubricating oil additive import price amounted to $X per ton, growing by X% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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