South-Eastern Asia: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in South-Eastern Asia

The Southeast Asian lubricating oil additive market rose slightly to $X in 2022, surging by X% against the previous year. The total consumption indicated a measured expansion 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Lubricating Oil Additive Production in South-Eastern Asia

In value terms, lubricating oil additive production rose slightly to $X in 2022 estimated in export price. The total production indicated moderate 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Lubricating Oil Additive Exports

Exports in South-Eastern Asia

In 2022, exports of additives for lubricating oils in South-Eastern Asia contracted to X tons, falling by X% on 2021 figures. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then dropped in the following year.

In value terms, lubricating oil additive exports expanded remarkably to $X in 2022. The total export 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 throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

The biggest shipments were from Singapore (X tons), together finishing at X% of total export.

Singapore was also the fastest-growing in terms of the additives for lubricating oils exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) also remains the largest lubricating oil additive supplier in South-Eastern Asia.

In Singapore, lubricating oil additive exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, picking up by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

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

Lubricating Oil Additive Imports

Imports in South-Eastern Asia

Lubricating oil additive imports shrank modestly to X tons in 2022, leveling off at 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, lubricating oil additive imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore was the key importing country with an import of around X tons, which resulted at X% of total imports. It was distantly followed by Indonesia (X tons), Thailand (X tons), Malaysia (X tons) and Vietnam (X tons), together comprising a X% share of total imports.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of additives for lubricating oils. At the same time, Vietnam (X%), Indonesia (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of X% from 2012-2022. Malaysia experienced a relatively flat trend pattern. Indonesia (X p.p.), Vietnam (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the total imports, while Malaysia and Singapore saw its share reduced by X% and X% from 2012 to 2022, respectively.

In value terms, Singapore ($X) constitutes the largest market for imported additives for lubricating oils in South-Eastern Asia, comprising X% of total imports. The second position in the ranking was taken by Indonesia ($X), with an X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Indonesia (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the import price continues to indicate 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 somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Vietnam ($X per ton) and Thailand ($X per ton), while Singapore ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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