United Kingdom: Lubricant Additives Market 2024

Lubricant Additives Market Size in the UK

In 2021, the UK lubricant additives market decreased by -12.3% to $X for the first time since 2016, thus ending a four-year rising trend. The market value increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Lubricant additives consumption peaked at $X in 2020, and then fell in the following year.

Lubricant Additives Production in the UK

In value terms, lubricant additives production contracted modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 7.1%. Lubricant additives production peaked at $X in 2020, and then contracted in the following year.

Lubricant Additives Exports

Exports from the UK

Lubricant additives exports from the UK rose modestly to X tons in 2021, surging by 4.4% against the year before. Overall, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 24% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, lubricant additives exports rose remarkably to $X in 2021. Over the period under review, exports, however, recorded a abrupt shrinkage. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Belgium (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of lubricant additives exports from the UK, together comprising 32% of total exports. These countries were followed by Spain, Italy, the United States, China, Brazil, Sudan, Argentina, the United Arab Emirates, South Africa and Poland, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Sudan (with a CAGR of +84.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Belgium ($X) and the Netherlands ($X) constituted the largest markets for lubricant additives exported from the UK worldwide, together comprising 28% of total exports. These countries were followed by Italy, Spain, the United States, China, Poland, the United Arab Emirates, South Africa, Sudan, Brazil and Argentina, which together accounted for a further 39%.

In terms of the main countries of destination, Sudan, with a CAGR of +89.6%, 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

In 2021, the average lubricant additives export price amounted to $X per ton, picking up by 6.2% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 13% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into the UK

Lubricant additives imports into the UK fell dramatically to X tons in 2021, which is down by -23.1% against 2020. In general, imports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 24% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, lubricant additives imports contracted sharply to $X in 2021. Over the period under review, imports showed a deep setback. The pace of growth appeared the most rapid in 2017 when imports increased by 15%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, France (X tons) constituted the largest lubricant additives supplier to the UK, accounting for a 42% share of total imports. Moreover, lubricant additives imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France stood at -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.7% per year) and Belgium (-12.1% per year).

In value terms, the largest lubricant additives suppliers to the UK were France ($X), Germany ($X) and Belgium ($X), together comprising 75% of total imports.

Germany, with a CAGR of -0.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average lubricant additives import price stood at $X per ton in 2021, growing by 9.6% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average import price increased by 10% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and the United States ($X per ton), while the price for France ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+10.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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