Australia: Lubricant Additives Market 2024

Lubricant Additives Market Size in Australia

The Australian lubricant additives market fell to $X in 2021, waning by -9.6% against the previous year. The market value increased at an average annual rate of +4.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Lubricant additives consumption peaked at $X in 2020, and then reduced in the following year.

Lubricant Additives Production in Australia

In value terms, lubricant additives production shrank slightly to $X in 2021 estimated in export price. In general, production, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 80%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Lubricant Additives Exports

Exports from Australia

In 2021, after three years of decline, there was significant growth in shipments abroad of prepared additives for mineral oils, when their volume increased by 8% to X tons. Over the period under review, exports, however, showed a abrupt setback. The pace of growth was the most pronounced in 2017 when exports increased by 23%. As a result, the exports attained 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 reached $X in 2021. In general, exports, however, continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2017 when exports increased by 16% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Chile (X tons), Peru (X tons) and Brazil (X tons) were the main destinations of lubricant additives exports from Australia, together comprising 33% of total exports. These countries were followed by China, Malaysia, Papua New Guinea, Singapore, New Zealand, Indonesia, Sweden, Russia, Mozambique and the UK, which together accounted for a further 49%.

From 2012 to 2021, the biggest increases were recorded for Mozambique (with a CAGR of +56.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricant additives exported from Australia were Chile ($X), Peru ($X) and Brazil ($X), with a combined 34% share of total exports. Malaysia, Singapore, China, New Zealand, Indonesia, Papua New Guinea, Sweden, Russia, Mozambique and the UK lagged somewhat behind, together accounting for a further 47%.

Mozambique, with a CAGR of +62.7%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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, rising by 2% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 43% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+5.8%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Australia

In 2021, the amount of prepared additives for mineral oils imported into Australia fell to X tons, waning by -8.8% compared with 2020. Overall, imports showed a noticeable descent. The pace of growth appeared the most rapid in 2017 when imports increased by 7%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, lubricant additives imports contracted to $X in 2021. Over the period under review, imports recorded a mild curtailment. The pace of growth was the most pronounced in 2017 when imports increased by 11%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Singapore (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of lubricant additives imports to Australia, with a combined 75% share of total imports. These countries were followed by Belgium, France, South Korea, China, the Philippines and Italy, which together accounted for a further 19%.

From 2012 to 2021, the biggest increases were recorded for the Philippines (with a CAGR of +122.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricant additives suppliers to Australia were Singapore ($X), the United States ($X) and Germany ($X), together accounting for 75% of total imports. These countries were followed by France, Belgium, South Korea, China, the Philippines and Italy, which together accounted for a further 19%.

The Philippines, with a CAGR of +91.5%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lubricant additives import price stood at $X per ton in 2021, almost unchanged from the previous year. Over the last nine years, it increased at an average annual rate of +2.1%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 9.5% against the previous year. The import price peaked at $X per ton in 2020, and then fell in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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