Saudi Arabia: Lubricant Additives Market 2024

Lubricant Additives Market Size in Saudi Arabia

The Saudi lubricant additives market shrank dramatically to $X in 2022, falling by X% against the previous year. Over the period under review, consumption continues to indicate a abrupt setback. Lubricant additives consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Lubricant Additives Production in Saudi Arabia

In value terms, lubricant additives production shrank to $X in 2022 estimated in export price. In general, production showed a pronounced downturn. The pace of growth appeared the most rapid in 2016 with an increase of X%. Lubricant additives production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Lubricant Additives Exports

Exports from Saudi Arabia

Lubricant additives exports from Saudi Arabia surged to X tons in 2022, rising by X% compared with the year before. In general, exports posted a strong increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, lubricant additives exports skyrocketed to $X in 2022. Over the period under review, exports posted moderate growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

South Africa (X tons) was the main destination for lubricant additives exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, lubricant additives exports to South Africa exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. The third position in this ranking was held by Oman (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to South Africa was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Oman (X% per year).

In value terms, the largest markets for lubricant additives exported from Saudi Arabia were Singapore ($X), South Africa ($X) and Oman ($X), with a combined X% share of total exports.

In terms of the main countries of destination, Singapore, with a CAGR of X%, 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 ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, saw a deep slump. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Saudi Arabia

In 2021, overseas purchases of prepared additives for mineral oils increased by X% to X tons, rising for the third year in a row after three years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, lubricant additives imports expanded sharply to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), the United States (X tons) and the United Arab Emirates (X tons) were the main suppliers of lubricant additives imports to Saudi Arabia, together accounting for X% of total imports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricant additives suppliers to Saudi Arabia were France ($X), the United States ($X) and Italy ($X), together accounting for X% of total imports. Singapore, Belgium, Germany, the United Arab Emirates, India and the UK lagged somewhat behind, together accounting for a further X%.

The United Arab Emirates, with a CAGR of X%, saw 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 lubricant additives import price stood at $X per ton in 2021, which is down by X% against the previous year. Overall, the import price recorded a pronounced shrinkage. The growth pace was the most rapid in 2019 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 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 UK (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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