China: Lubricant Additives Market Overview 2021

Lubricant Additives Market Size in China

The Chinese lubricant additives market reduced remarkably to $X in 2019, shrinking by -X% against the previous year. Over the period under review, consumption saw a mild contraction. The pace of growth was the most pronounced in 2014 when the market value increased by X% y-o-y. Lubricant additives consumption peaked at $X in 2009; however, from 2010 to 2019, consumption stood at a somewhat lower figure.

Lubricant Additives Production in China

In value terms, lubricant additives production declined notably to $X in 2019 estimated in export prices. Over the period under review, production saw a noticeable reduction. The pace of growth appeared the most rapid in 2014 with an increase of X% y-o-y. Lubricant additives production peaked at $X in 2009; however, from 2010 to 2019, production stood at a somewhat lower figure.

Lubricant Additives Exports

Exports from China

In 2019, overseas shipments of prepared additives for mineral oils decreased by -X% to X tonnes for the first time since 2011, thus ending a seven-year rising trend. In general, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2015 with an increase of X% year-to-year. Over the period under review, exports hit record highs at X tonnes in 2018, and then contracted rapidly in the following year.

In value terms, lubricant additives exports dropped notably to $X in 2019. Over the period under review, exports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2015 with an increase of X% year-to-year. Over the period under review, exports reached the peak figure at $X in 2018, and then contracted notably in the following year.

Exports by Country

Singapore (X tonnes) was the main destination for lubricant additives exports from China, accounting for a X% share of total exports. Moreover, lubricant additives exports to Singapore exceeded the volume sent to the second major destination, the United Arab Emirates (X tonnes), threefold. The third position in this ranking was occupied by Iran (X tonnes), with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume to Singapore amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+X% per year) and Iran (+X% per year).

In value terms, the largest markets for lubricant additives exported from China were Singapore ($X), the United Arab Emirates ($X) and Iran ($X), together comprising X% of total exports. Indonesia, Chad, South Korea, Viet Nam and Thailand lagged somewhat behind, together accounting for a further X terms of the main countries of destination, Chad (+X% per year) 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

The average lubricant additives export price stood at $X per tonne in 2019, falling by -X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2011 an increase of X% year-to-year. Over the period under review, average export prices attained the peak figure at $X per tonne in 2018, and then fell markedly in the following year.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was the United Arab Emirates ($X per tonne), while the average price for exports to Singapore ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates, while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into China

In 2019, supplies from abroad of prepared additives for mineral oils increased by X% to X tonnes, rising for the fourth year in a row after two years of decline. In general, total imports indicated a buoyant increase from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2010 with an increase of X% y-o-y. Over the period under review, imports reached the peak figure in 2019 and are expected to retain growth in the immediate term.

In value terms, lubricant additives imports reached $X in 2019. Overall, total imports indicated strong growth from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2015 indices. The growth pace was the most rapid in 2010 when imports increased by X% y-o-y. Over the period under review, imports hit record highs at $X in 2013; afterwards, it flattened through to 2019.

Imports by Country

In 2019, Singapore (X tonnes) constituted the largest lubricant additives supplier to China, accounting for a X% share of total imports. Moreover, lubricant additives imports from Singapore exceeded the figures recorded by the second-largest supplier, the U.S. (X tonnes), threefold. Italy (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual growth rate of volume from Singapore totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Italy (+X% per year).

In value terms, Singapore ($X) constituted the largest supplier of lubricant additives to China, comprising X% of total imports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Singapore stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the U.S. (+X% per year) and Italy (+X% per year).

Import Prices by Country

The average lubricant additives import price stood at $X per tonne in 2019, almost unchanged from the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2009 an increase of X% year-to-year. The import price peaked at $X per tonne in 2012; however, from 2013 to 2019, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per tonne), while the price for South Korea ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Germany, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for prepared additives for mineral oils in the world?

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China (1.6M tonnes) remains the largest lubricant additives consuming country worldwide, comprising approx. 21% of total volume. Moreover, lubricant additives consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (747K tonnes), twofold. India (565K tonnes) ranked third in terms of total consumption with a 7.4% share.

What are the largest producers of prepared additives for mineral oils in the world?

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The countries with the highest volumes of lubricant additives production in 2019 were the U.S. (1.4M tonnes), China (1.4M tonnes) and France (1M tonnes), together comprising 51% of global production. These countries were followed by India, Italy, Germany, Singapore, Japan, Belgium, Russia, Brazil and Mexico, which together accounted for a further 39%.

What are the leading suppliers of prepared additives for mineral oils to China?

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In value terms, Singapore ($552M) constituted the largest supplier of lubricant additives to China, comprising 46% of total imports. The second position in the ranking was occupied by the U.S. ($270M), with a 23% share of total imports. It was followed by Italy, with a 6.4% share.

What are the leading importers of prepared additives for mineral oils from China?

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In value terms, the largest markets for lubricant additives exported from China were Singapore ($66M), the United Arab Emirates ($45M) and Iran ($26M), with a combined 61% share of total exports. Indonesia, Chad, South Korea, Viet Nam and Thailand lagged somewhat behind, together accounting for a further 23%.

What is the average export price for prepared additives for mineral oils in China?

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The average lubricant additives export price stood at $2,533 per tonne in 2019, shrinking by -30.7% against the previous year.

What is the average import price for prepared additives for mineral oils in China?

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The average lubricant additives import price stood at $3,376 per tonne in 2019, stabilizing at the previous year.