Vietnam: Lubricant Additives Market Overview 2021

Lubricant Additives Market Size in Vietnam

The Vietnamese lubricant additives market expanded notably to $X in 2019, with an increase of X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption posted a resilient increase. The growth pace was the most rapid in 2014 with an increase of X% y-o-y. As a result, consumption attained the peak level of $X. From 2015 to 2019, the growth of the market remained at a somewhat lower figure.

Lubricant Additives Exports

Exports from Vietnam

In 2019, shipments abroad of prepared additives for mineral oils was finally on the rise to reach X tonnes for the first time since 2016, thus ending a two-year declining trend. In general, exports showed a resilient expansion. The pace of growth was the most pronounced in 2012 when exports increased by X% year-to-year. Over the period under review, exports reached the maximum at X tonnes in 2016; however, from 2017 to 2019, exports remained at a lower figure.

In value terms, lubricant additives exports skyrocketed to $X in 2019. Over the period under review, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by X% y-o-y. Exports peaked at $X in 2016; however, from 2017 to 2019, exports failed to regain the momentum.

Exports by Country

The United Arab Emirates (X tonnes), Singapore (X tonnes) and Taiwan (Chinese) (X tonnes) were the main destinations of lubricant additives exports from Viet Nam, together comprising X% of total exports.

From 2007 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Taiwan (Chinese) ($X) and the U.S. ($X) appeared to be the largest markets for lubricant additives exported from Viet Nam worldwide, together accounting for X% of total exports. The United Arab Emirates, South Korea, Malaysia and Cambodia lagged somewhat behind, together comprising a further X the main countries of destination, the United Arab Emirates (+X% per year) 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 tonne in 2019, waning by -X% against the previous year. Overall, the export price saw a perceptible decline. The pace of growth was the most pronounced in 2011 when the average export price increased by X% year-to-year. As a result, export price attained the peak level of $X per tonne. From 2012 to 2019, the growth in terms of the average export prices failed to regain the momentum.

There were significant differences in the average prices for the major overseas markets. In 2019, the country with the highest price was the U.S. ($X per tonne), while the average price for exports to the United Arab Emirates ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Singapore, while the prices for the other major destinations experienced a decline.

Lubricant Additives Imports

Imports into Vietnam

In 2019, imports of prepared additives for mineral oils into Viet Nam rose significantly to X tonnes, increasing by X% against 2018 figures. Overall, total imports indicated a prominent increase from 2007 to 2019: its volume increased at an average annual rate of +X% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports increased by +X% against 2015 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Imports peaked in 2019 and are likely to see steady growth in years to come.

In value terms, lubricant additives imports amounted to $X in 2019. Over the period under review, imports enjoyed a strong expansion. The growth pace was the most rapid in 2014 when imports increased by X% year-to-year. As a result, imports attained the peak of $X. From 2015 to 2019, the growth imports remained at a somewhat lower figure.

Imports by Country

In 2019, Singapore (X tonnes) constituted the largest lubricant additives supplier to Viet Nam, accounting for a X% share of total imports. Moreover, lubricant additives imports from Singapore exceeded the figures recorded by the second-largest supplier, South Korea (X tonnes), more than tenfold. India (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of volume from Singapore amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and India (+X% per year).

In value terms, Singapore ($X) constituted the largest supplier of lubricant additives to Viet Nam, comprising X% of total imports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total imports. It was followed by China, with a X% share.

From 2007 to 2019, the average annual growth rate of value from Singapore amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and China (+X% per year).

Import Prices by Country

In 2019, the average lubricant additives import price amounted to $X per tonne, approximately equating the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2011 an increase of X% against the previous year. The import price peaked at $X per tonne in 2015; however, from 2016 to 2019, import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Singapore ($X per tonne), while the price for India ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Singapore, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for prepared additives for mineral oils in the world?

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The country with the largest volume of lubricant additives consumption was China (1.6M tonnes), comprising approx. 21% of total volume. Moreover, lubricant additives consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (747K tonnes), twofold. India (565K tonnes) ranked third in terms of total consumption with a 7.4% share.

What are the largest producers of prepared additives for mineral oils in the world?

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The countries with the highest volumes of lubricant additives production in 2019 were the U.S. (1.4M tonnes), China (1.4M tonnes) and France (1M tonnes), with a combined 51% share of global production. These countries were followed by India, Italy, Germany, Singapore, Japan, Belgium, Russia, Brazil and Mexico, which together accounted for a further 39%.

What are the leading suppliers of prepared additives for mineral oils to Vietnam?

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In value terms, Singapore ($76M) constituted the largest supplier of lubricant additives to Viet Nam, comprising 73% of total imports. The second position in the ranking was occupied by South Korea ($6.1M), with a 5.8% share of total imports. It was followed by China, with a 3.9% share.

What are the leading importers of prepared additives for mineral oils from Vietnam?

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In value terms, the largest markets for lubricant additives exported from Viet Nam were Singapore ($188K), Taiwan (Chinese) ($187K) and the U.S. ($58K), with a combined 68% share of total exports. The United Arab Emirates, South Korea, Malaysia and Cambodia lagged somewhat behind, together accounting for a further 22%.

What is the average export price for prepared additives for mineral oils in Vietnam?

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The average lubricant additives export price stood at $1,870 per tonne in 2019, declining by -10.7% against the previous year.

What is the average import price for prepared additives for mineral oils in Vietnam?

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In 2019, the average lubricant additives import price amounted to $3,076 per tonne, remaining stable against the previous year.