Southern Asia: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Southern Asia

The South Asian lubricating oil additive market amounted to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Lubricating Oil Additive Production in Southern Asia

In value terms, lubricating oil additive production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Lubricating Oil Additive Exports

Exports in Southern Asia

In 2022, overseas shipments of additives for lubricating oils increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, lubricating oil additive exports soared to $X in 2022. In general, exports continue to indicate strong growth. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

India (X tons) represented roughly X% of total exports in 2022.

India 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, India ($X) also remains the largest lubricating oil additive supplier in Southern Asia.

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

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 India amounted to X% per year.

Lubricating Oil Additive Imports

Imports in Southern Asia

In 2022, purchases abroad of additives for lubricating oils increased by X% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a remarkable increase from 2012 to 2022: its volume 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 most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, lubricating oil additive imports surged to $X in 2022. Total imports indicated a resilient 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, imports increased by X% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India was the largest importer of additives for lubricating oils in Southern Asia, with the volume of imports amounting to X tons, which was near X% of total imports in 2022. It was distantly followed by Pakistan (X tons), generating a X% share of total imports. The following importers - Sri Lanka (X tons) and Bangladesh (X tons) - together made up X% of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Pakistan (X%), Bangladesh (X%) and Sri Lanka (X%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. Pakistan (X p.p.) significantly strengthened its position in terms of the total imports, while Sri Lanka saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported additives for lubricating oils in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Pakistan ($X), with an X% share of total imports. It was followed by Bangladesh, with a X% share.

In India, lubricating oil additive imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (X% per year) and Bangladesh (X% per year).

Import Prices by Country

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

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was India ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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