Saudi Arabia: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Saudi Arabia

The Saudi lubricating oil additive market declined to $X in 2022, dropping by X% against the previous year. Overall, consumption, however, showed prominent growth. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Lubricating Oil Additive Production in Saudi Arabia

In value terms, lubricating oil additive production declined modestly to $X in 2022 estimated in export price. Overall, production posted a strong increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Lubricating Oil Additive Exports

Exports from Saudi Arabia

Lubricating oil additive exports from Saudi Arabia surged to X tons in 2022, growing by X% against the previous year's figure. Overall, exports, however, continue to indicate a abrupt contraction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, lubricating oil additive exports surged to $X in 2022. In general, exports, however, showed a noticeable decrease. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

India (X tons) was the main destination for lubricating oil additive exports from Saudi Arabia, with a approx. X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to X%.

In value terms, India ($X) also remains the key foreign market for additives for lubricating oils exports from Saudi Arabia.

From 2012 to 2022, the average annual growth rate of value to India amounted to X%.

Export Prices by Country

In 2022, the average lubricating oil additive export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2022: its price 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, lubricating oil additive export price increased by X% against 2019 indices. The growth pace was the most rapid in 2020 an increase of X%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to X% per year.

Lubricating Oil Additive Imports

Imports into Saudi Arabia

In 2021, approx. X tons of additives for lubricating oils were imported into Saudi Arabia; picking up by X% on 2020 figures. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked in 2021 and are likely to see gradual growth in years to come.

In value terms, lubricating oil additive imports surged to $X in 2021. Overall, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), the United Arab Emirates (X tons) and Italy (X tons) were the main suppliers of lubricating oil additive imports to Saudi Arabia, together accounting for X% of total imports. Singapore, the United States, Belgium and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Italy ($X) and the United States ($X) were the largest lubricating oil additive suppliers to Saudi Arabia, together comprising X% of total imports. Singapore, Belgium, the United Arab Emirates and Germany lagged somewhat behind, together comprising a further X%.

The United Arab Emirates, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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 lubricating oil additive import price stood at $X per ton in 2021, waning by X% against the previous year. Over the period under review, the import price recorded a pronounced contraction. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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