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Hong Kong SAR, China - Prepared Additives For Mineral Oils - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Jun 1, 2025

Hong Kong SAR, China - Prepared Additives For Mineral Oils - Market Analysis, Forecast, Size, Trends and Insights

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Feb 7, 2025

Hong Kong Sees 2% Decline in Lubricant Additives Imports, Falling to $54 Million in 2024

Hong Kong Lubricant Additives Imports

In 2024, purchases abroad of prepared additives for mineral oils increased by 5% to 15K tons for the first time since 2021, thus ending a two-year declining trend. Over the period under review, imports, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2021 with an increase of 19%. Imports peaked at 19K tons in 2016; however, from 2017 to 2024, imports remained at a lower figure.

In value terms, lubricant additives imports declined modestly to $54M (IndexBox estimates) in 2024. Overall, imports, however, saw a slight slump. The pace of growth was the most pronounced in 2021 with an increase of 23% against the previous year. Imports peaked at $64M in 2015; however, from 2016 to 2024, imports stood at a somewhat lower figure.Hong Kong Lubricant Additives Imports By Country (Million USD)

COUNTRYImport Value of Lubricant Additives in Hong Kong (million USD)
20142015201620172018201920202021202220232024
Singapore10.414.113.725.733.921.824.331.733.822.623.0
China20.221.617.56.42.22.52.93.65.112.59.9
Italy7.210.412.16.86.818.06.76.59.211.89.4
United States6.03.37.05.85.33.32.13.22.74.33.4
Netherlands2.53.12.72.62.01.81.41.20.80.90.8
South Korea2.72.83.42.31.40.30.40.81.10.80.7
France5.83.72.50.82.50.20.40.90.5N/A0.4
Others8.24.93.53.53.83.12.72.31.91.76.1
Total63.063.962.453.957.851.040.950.355.054.553.6

Imports by Country

In 2024, Singapore (7.1K tons) constituted the largest lubricant additives supplier to Hong Kong, with a 47% share of total imports. Moreover, lubricant additives imports from Singapore exceeded the figures recorded by the second-largest supplier, China (3.2K tons), twofold. Italy (2K tons) ranked third in terms of total imports with a 13% share.

From 2014 to 2024, the average annual rate of growth in terms of volume from Singapore stood at +9.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.2% per year) and Italy (+2.8% per year).

In value terms, Singapore ($23M) constituted the largest supplier of prepared additives for mineral oils to Hong Kong, comprising 43% of total imports. The second position in the ranking was held by China ($9.9M), with a 19% share of total imports. It was followed by Italy, with a 17% share.

From 2014 to 2024, the average annual rate of growth in terms of value from Singapore stood at +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.9% per year) and Italy (+2.7% per year).

Import Prices by Country

In 2024, the lubricant additives price stood at $3,563 per ton (CIF, Hong Kong), waning by -6.4% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when the average import price increased by 18% against the previous year. The import price peaked at $3,808 per ton in 2023, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2024, amid the top importers, the country with the highest price was the United States ($9,924 per ton), while the price for South Korea ($3,074 per ton) was amongst the lowest.

From 2014 to 2024, the most notable rate of growth in terms of prices was attained by the United States (+8.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the lubricant additives market in Hong Kong SAR, China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 20594250 - Anti-knock preparations
  • Prodcom 20594270 - Additives for lubricating oils
  • Prodcom 20594290 - Additives for mineral oils or for other liquids used for the same purpose as mineral oils (including gasoline) (excluding anti-knock preparations, additives for lubricating oils)

Country coverage:

  • Hong Kong SAR

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in Hong Kong SAR, China
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035

  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, By Product
    11. Average Per Capita Consumption, By Product
    12. Exports and Growth, By Product
    13. Export Prices and Growth, By Product
    14. Production Volume and Growth
    15. Exports and Growth
    16. Export Prices and Growth
    17. Market Size and Growth
    18. Per Capita Consumption
    19. Imports and Growth
    20. Import Prices
    21. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country, 2012–2024
    29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country, 2012–2024

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