Australia and Oceania: Lubricant Additives Market 2024

Lubricant Additives Market Size in Australia and Oceania

The lubricant additives market in Australia and Oceania fell to $X in 2021, dropping by -8.1% against the previous year. The market value increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2020, and then fell in the following year.

Lubricant Additives Production in Australia and Oceania

In value terms, lubricant additives production contracted modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of 80%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Lubricant Additives Exports

Exports in Australia and Oceania

In 2021, approx. X tons of prepared additives for mineral oils were exported in Australia and Oceania; with an increase of 8.4% against 2020. Over the period under review, exports, however, recorded a deep reduction. The pace of growth appeared the most rapid in 2017 with an increase of 23% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, lubricant additives exports rose rapidly to $X in 2021. In general, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2017 with an increase of 15% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Australia dominates exports structure, recording X tons, which was near 97% of total exports in 2021. New Zealand (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to lubricant additives exports from Australia stood at -7.5%. At the same time, New Zealand (+20.5%) displayed positive paces of growth. Moreover, New Zealand emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +20.5% from 2012-2021. New Zealand (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Australia saw its share reduced by -2.5% from 2012 to 2021, respectively.

In value terms, Australia ($X) remains the largest lubricant additives supplier in Australia and Oceania, comprising 97% of total exports. The second position in the ranking was held by New Zealand ($X), with a 2.9% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Australia totaled -6.8%.

Export Prices by Country

In 2021, the export price in Australia and Oceania amounted to $X per ton, surging by 2.1% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 43%. Over the period under review, the export prices hit record highs in 2021 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+0.8%).

Lubricant Additives Imports

Imports in Australia and Oceania

In 2021, the amount of prepared additives for mineral oils imported in Australia and Oceania declined to X tons, waning by -6.7% compared with the previous year. Overall, imports recorded a perceptible decrease. The pace of growth was the most pronounced in 2017 with an increase of 9.2% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, lubricant additives imports fell to $X in 2021. Over the period under review, imports saw a mild reduction. The pace of growth appeared the most rapid in 2017 with an increase of 12% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Australia prevails in imports structure, amounting to X tons, which was approx. 92% of total imports in 2021. It was distantly followed by New Zealand (X tons), comprising a 5.6% share of total imports. Papua New Guinea (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to lubricant additives imports into Australia stood at -3.5%. New Zealand (-1.3%) and Papua New Guinea (-7.0%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported prepared additives for mineral oils in Australia and Oceania, comprising 92% of total imports. The second position in the ranking was held by New Zealand ($X), with a 5.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in Australia amounted to -1.4%. In the other countries, the average annual rates were as follows: New Zealand (-1.6% per year) and Papua New Guinea (-8.7% per year).

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2021, approximately mirroring the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2018 an increase of 9% against the previous year. The level of import peaked at $X per ton in 2020, and then fell modestly in the following year.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Australia ($X per ton), while Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+2.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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