Eastern Asia: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Eastern Asia

The East Asian lubricating oil additive market totaled $X in 2022, flattening at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Lubricating Oil Additive Production in Eastern Asia

In value terms, lubricating oil additive production rose to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Lubricating Oil Additive Exports

Exports in Eastern Asia

For the eleventh consecutive year, Eastern Asia recorded growth in overseas shipments of additives for lubricating oils, which increased by X% to X tons in 2022. Over the period under review, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The volume of export peaked in 2022 and is likely to see gradual growth in years to come.

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

Exports by Country

China represented the major exporter of additives for lubricating oils in Eastern Asia, with the volume of exports finishing at X tons, which was near X% of total exports in 2022. South Korea (X tons) ranks second in terms of the total exports with a X% share, followed by Japan (X%).

China was also the fastest-growing in terms of the additives for lubricating oils exports, with a CAGR of X% from 2012 to 2022. At the same time, South Korea (X%) and Japan (X%) displayed positive paces of growth. From 2012 to 2022, the share of China and South Korea increased by X and X percentage points, respectively.

In value terms, China ($X) remains the largest lubricating oil additive supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was held by Japan ($X), with a X% share of total exports.

In China, lubricating oil additive 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: Japan (X% per year) and South Korea (X% per year).

Export Prices by Country

In 2022, the export price in Eastern Asia amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, showed a mild slump. Over the period under review, the export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 Japan (X%), while the other leaders experienced a decline in the export price figures.

Lubricating Oil Additive Imports

Imports in Eastern Asia

In 2022, the amount of additives for lubricating oils imported in Eastern Asia reduced notably to X tons, waning by X% against 2021. Over the period under review, imports, however, saw modest growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports reached the peak of X tons, and then shrank notably in the following year.

In value terms, lubricating oil additive imports fell 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 being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then reduced modestly in the following year.

Imports by Country

China was the key importing country with an import of around X tons, which recorded X% of total imports. Japan (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%) and Taiwan (Chinese) (X%). Hong Kong SAR (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the additives for lubricating oils imports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) and South Korea (X%) displayed positive paces of growth. By contrast, Hong Kong SAR (X%) and Japan (X%) illustrated a downward trend over the same period. China (X p.p.) significantly strengthened its position in terms of the total imports, while Japan 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, China ($X) constitutes the largest market for imported additives for lubricating oils in Eastern Asia, comprising X% of total imports. The second position in the ranking was held by South Korea ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

In China, lubricating oil additive imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (X% per year) and Japan (X% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price saw 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 South Korea ($X per ton) and China ($X per ton), while Hong Kong SAR ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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