Latin America and the Caribbean: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Latin America and the Caribbean

In 2022, the Latin American lubricating oil additive market increased by X% to $X, rising for the fifth consecutive year after four years of decline. Over the period under review, consumption, however, saw a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Lubricating Oil Additive Production in Latin America and the Caribbean

In value terms, lubricating oil additive production totaled $X in 2022 estimated in export price. Overall, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Lubricating Oil Additive Exports

Exports in Latin America and the Caribbean

In 2022, after two years of growth, there was decline in shipments abroad of additives for lubricating oils, when their volume decreased by X% to X tons. Overall, exports saw a pronounced reduction. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, lubricating oil additive exports expanded rapidly to $X in 2022. Over the period under review, exports continue to indicate a slight setback. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Brazil (X tons) and Mexico (X tons) prevails in exports structure, together creating X% of total exports. Venezuela (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Venezuela (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Brazil ($X), Mexico ($X) and Venezuela ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports.

In terms of the main exporting countries, Venezuela, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced a decline in the export price figures.

Lubricating Oil Additive Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of additives for lubricating oils increased by X% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, lubricating oil additive imports skyrocketed to $X in 2022. Total imports indicated pronounced growth 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Brazil was the main importer of additives for lubricating oils in Latin America and the Caribbean, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. Mexico (X tons) held the second position in the ranking, distantly followed by Argentina (X tons), Colombia (X tons), Chile (X tons) and Peru (X tons). All these countries together took near X% share of total imports. Ecuador (X tons) followed a long way behind the leaders.

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

In value terms, Brazil ($X), Mexico ($X) and Argentina ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising X% of total imports. Colombia, Chile, Peru and Ecuador lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Peru, with a CAGR of X%, recorded the highest growth rate of 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 Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Ecuador ($X per ton) and Peru ($X per ton), while Brazil ($X per ton) and Argentina ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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