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U.S. - Prepared Additives For Mineral Oils - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Feb 1, 2025

U.S. - Prepared Additives For Mineral Oils - Market Analysis, Forecast, Size, Trends and Insights

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Jun 28, 2024

U.S. Lubricant Additives Export Decreases to $3.7 Billion in 2023

U.S. Lubricant Additives Exports

Lubricant additives exports from the United States shrank to 943K tons in 2023, waning by -7.7% compared with the year before. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when exports increased by 33% against the previous year. As a result, the exports reached the peak of 1.1M tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, lubricant additives exports dropped to $3.7B (IndexBox estimates) in 2023. The total export value increased at an average annual rate of +1.1% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 26% against the previous year. The exports peaked at $3.9B in 2022, and then fell in the following year.U.S. Lubricant Additives Exports By Country (Million USD)

COUNTRYExport Value of Lubricant Additives in U.S. (million USD)
20132014201520162017201820192020202120222023
Mexico1611841731652313053023418549621,347
Canada427410358324330335338311339439444
Singapore481430419334329339265239288327215
France217194186196229290268247248310211
China261240199221263285244284328315167
United Kingdom13.513.212.88.413.38.710.05.53.5166156
Brazil170143111113121121124114134157145
Japan199177212178156180366123134156129
Belgium23523820817021020922920322515286.8
Others1,1691,1701,074905864932957761751940802
Total3,3333,2002,9532,6152,7473,0063,1022,6283,3053,9233,702

Exports by Country

Mexico (464K tons) was the main destination for lubricant additives exports from the United States, with a 49% share of total exports. Moreover, lubricant additives exports to Mexico exceeded the volume sent to the second major destination, Canada (92K tons), fivefold. The third position in this ranking was taken by Singapore (47K tons), with a 5% share.

From 2013 to 2023, the average annual rate of growth in terms of volume to Mexico totaled +26.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-1.9% per year) and Singapore (-10.7% per year).

In value terms, Mexico ($1.3B) remains the key foreign market for prepared additives for mineral oils exports from the United States, comprising 36% of total exports. The second position in the ranking was taken by Canada ($444M), with a 12% share of total exports. It was followed by Singapore, with a 5.8% share.

From 2013 to 2023, the average annual rate of growth in terms of value to Mexico totaled +23.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+0.4% per year) and Singapore (-7.8% per year).

Export Prices by Country

In 2023, the lubricant additives price stood at $3,927 per ton (FOB, US), shrinking by -2.1% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 an increase of 111% against the previous year. As a result, the export price attained the peak level of $4,011 per ton, and then declined in the following year.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was South Korea ($6,508 per ton), while the average price for exports to Mexico ($2,903 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the lubricant additives market in the U.S.. 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:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • 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 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 TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. MARKET STRUCTURE
    3. TRADE BALANCE
    4. PER CAPITA CONSUMPTION
    5. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    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 Exports

    This Chapter is Available Only for the Professional Edition PRO
    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

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 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 Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    8. Market Volume Forecast to 2030
    9. Market Value Forecast to 2030
    10. Products: Market Size And Growth, By Type
    11. Products: Average Per Capita Consumption, By Type
    12. Products: Exports And Growth, By Type
    13. Products: Export Prices And Growth, By Type
    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, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    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 Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    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 Of Destination, 2012–2024

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