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Republic of Korea - Prepared Additives For Mineral Oils - Market Analysis, Forecast, Size, Trends and Insights
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Republic of Korea: Lubricant Additives Market Overview 2021

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Lubricant Additives Market Size in Republic of Korea

The South Korean lubricant additives market dropped slightly to $X in 2019, declining by -X% against the previous year. Overall, consumption saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2019, consumption remained at a lower figure.

Lubricant Additives Production in Republic of Korea

In value terms, lubricant additives production expanded remarkably to $X in 2019 estimated in export prices. Overall, production, however, showed a slight decline. The pace of growth appeared the most rapid in 2018 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 Republic of Korea

In 2019, shipments abroad of prepared additives for mineral oils decreased by -X% to X tonnes for the first time since 2014, thus ending a four-year rising trend. Overall, exports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2018 with an increase of X% year-to-year. As a result, exports attained the peak of X tonnes, and then shrank in the following year.

In value terms, lubricant additives exports reduced to $X in 2019. Over the period under review, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by X% y-o-y. As a result, exports attained the peak of $X, and then dropped in the following year.

Exports by Country

Italy (X tonnes), China (X tonnes) and Singapore (X tonnes) were the main destinations of lubricant additives exports from South Korea, together comprising X% of total exports. The U.S., Viet Nam, India and Australia lagged somewhat behind, together accounting for a further X 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricant additives exported from South Korea were China ($X), Italy ($X) and Singapore ($X), with a combined X% share of total exports. These countries were followed by Viet Nam, the U.S., India and Australia, which together accounted for a further X terms of the main countries of destination, Australia (+X% per year) saw the highest growth rate of 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, stabilizing at the previous year. Overall, the export price, however, posted a tangible expansion. The most prominent rate of growth was recorded in 2009 an increase of X% against the previous year. Over the period under review, average export prices reached the maximum at $X per tonne in 2012; however, from 2013 to 2019, export prices failed to regain the momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Viet Nam ($X per tonne), while the average price for exports to Italy ($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 Viet Nam, while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Republic of Korea

In 2019, supplies from abroad of prepared additives for mineral oils decreased by -X% to X tonnes, falling for the second consecutive year after five years of growth. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2010 when imports increased by X% year-to-year. Imports peaked at X tonnes in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure.

In value terms, lubricant additives imports shrank to $X in 2019. Over the period under review, total imports indicated notable 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 decreased by -X% against 2017 indices. The most prominent rate of growth was recorded in 2010 when imports increased by X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2019, imports failed to regain the momentum.

Imports by Country

Singapore (X tonnes), the U.S. (X tonnes) and Germany (X tonnes) were the main suppliers of lubricant additives imports to South Korea, with a combined X% share of total imports. These countries were followed by China, France, Japan and Italy, which together accounted for a further X 2007 to 2019, the biggest increases were in China, while purchases for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), the U.S. ($X) and France ($X) constituted the largest lubricant additives suppliers to South Korea, together comprising X% of total imports. Germany, China, Japan and Italy lagged somewhat behind, together accounting for a further X recorded 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

The average lubricant additives import price stood at $X per tonne in 2019, picking up by X% against 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 2008 an increase of X% year-to-year. The import price peaked at $X per tonne in 2014; however, from 2015 to 2019, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Japan ($X per tonne), while the price for China ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by China, 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?
+
China (1.6M tonnes) constituted the country with the largest volume of lubricant additives consumption, accounting for 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?
+
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. India, Italy, Germany, Singapore, Japan, Belgium, Russia, Brazil and Mexico lagged somewhat behind, together comprising a further 39%.
What are the leading suppliers of prepared additives for mineral oils to Republic of Korea?
+
In value terms, the largest lubricant additives suppliers to South Korea were Singapore ($146M), the U.S. ($113M) and France ($54M), with a combined 70% share of total imports. Germany, China, Japan and Italy lagged somewhat behind, together comprising a further 24%.
What are the leading importers of prepared additives for mineral oils from Republic of Korea?
+
In value terms, China ($24M), Italy ($21M) and Singapore ($14M) constituted the largest markets for lubricant additives exported from South Korea worldwide, together accounting for 65% of total exports. These countries were followed by Viet Nam, the U.S., India and Australia, which together accounted for a further 24%.
What is the average export price for prepared additives for mineral oils in Republic of Korea?
+
In 2019, the average lubricant additives export price amounted to $2,633 per tonne, approximately mirroring the previous year.
What is the average import price for prepared additives for mineral oils in Republic of Korea?
+
The average lubricant additives import price stood at $4,076 per tonne in 2019, surging by 1.9% against the previous year.

Product coverage:
• Prodcom 20594250 - Anti-knock preparations
• Prodcom 20594270 - Additives for lubricating oils
• Prodcom 20594290 - Additives for mineral oils or for other liquids used for the same purpose as mineral oils (including gasoline) (excluding anti-knock preparations, additives for lubricating oils)

This report provides an in-depth analysis of the lubricant additives market in Republic of Korea. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.


Country coverage:
• South Korea

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Republic of Korea
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2007–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2007–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2007–2019
Table 3:
Market Value, 2007–2019
Table 4:
Per Capita Consumption In 2007–2019
Table 5:
Imports, In Physical Terms, By Country, 2007–2019
Table 6:
Imports, In Value Terms, By Country, 2007–2019
Table 7:
Import Prices, By Country Of Origin, 2007–2019
Table 8:
Exports, In Physical Terms, By Country, 2007–2019
Table 9:
Exports, In Value Terms, By Country, 2007–2019
Table 10:
Export Prices, By Country Of Destination, 2007–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2007–2019
Figure 2:
Market Value, 2007–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007–2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007–2019
Figure 5:
Trade Balance, In Physical Terms, 2007–2019
Figure 6:
Trade Balance, In Value Terms, 2007–2019
Figure 7:
Per Capita Consumption, 2007–2019
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2007–2019
Figure 21:
Production, In Value Terms, 2007–2019
Figure 22:
Imports, In Physical Terms, 2007–2019
Figure 23:
Imports, In Value Terms, 2007–2019
Figure 24:
Imports, In Physical Terms, By Country, 2019
Figure 25:
Imports, In Physical Terms, By Country, 2007–2019
Figure 26:
Imports, In Value Terms, By Country, 2007–2019
Figure 27:
Import Prices, By Country Of Origin, 2007–2019
Figure 28:
Exports, In Physical Terms, 2007–2019
Figure 29:
Exports, In Value Terms, 2007–2019
Figure 30:
Exports, In Physical Terms, By Country, 2019
Figure 31:
Exports, In Physical Terms, By Country, 2007–2019
Figure 32:
Exports, In Value Terms, By Country, 2007–2019
Figure 33:
Export Prices, By Country Of Destination, 2007–2019

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