U.S.: Lubricant Additives Market 2024

Lubricant Additives Market Size in the U.S.

The U.S. lubricant additives market shrank markedly to $X in 2022, falling by X% against the previous year. Overall, consumption saw a abrupt shrinkage. As a result, consumption attained the peak level of $X, and then reduced markedly in the following year.

Lubricant Additives Production in the U.S.

In value terms, lubricant additives production declined to $X in 2022. In general, production continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Lubricant additives production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Lubricant Additives Exports

Exports from the U.S.

Lubricant additives exports from the United States rose modestly to X tons in 2022, growing by X% against the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 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. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Mexico (X tons) was the main destination for lubricant additives exports from the United States, accounting for a X% share of total exports. Moreover, lubricant additives exports to Mexico exceeded the volume sent to the second major destination, France (X tons), twofold. The third position in this ranking was taken by Canada (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to Mexico totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (X% per year) and Canada (X% per year).

In value terms, Mexico ($X) remains the key foreign market for prepared additives for mineral oils exports from the United States, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with an X% share of total exports. It was followed by Singapore, with an X% share.

From 2012 to 2022, the average annual growth rate of value to Mexico stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the average lubricant additives export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, showed a slight reduction. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Brazil ($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 the U.S.

For the third consecutive year, the United States recorded growth in overseas purchases of prepared additives for mineral oils, which increased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives imports soared to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Canada (X tons) and Italy (X tons) were the main suppliers of lubricant additives imports to the United States, together accounting for X% of total imports. Mexico, Germany, the UK, India, Singapore, Japan, South Korea and Belgium lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricant additives suppliers to the United States were Canada ($X), France ($X) and Italy ($X), together comprising X% of total imports. Mexico, Germany, Japan, Singapore, India, the UK, South Korea and Belgium lagged somewhat behind, together comprising a further X%.

Among the main suppliers, South Korea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 2022, surging by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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