Belarus: Lubricant Additives Market 2024

Lubricant Additives Market Size in Belarus

The Belarusian lubricant additives market fell markedly to $X in 2021, which is down by -22.5% against the previous year. Over the period under review, consumption, however, enjoyed a noticeable expansion. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Lubricant Additives Production in Belarus

In value terms, lubricant additives production contracted to $X in 2021 estimated in export price. Over the period under review, production, however, showed a pronounced increase. The growth pace was the most rapid in 2019 when the production volume increased by 150% against the previous year. Over the period under review, production attained the peak level at $X in 2020, and then shrank in the following year.

Lubricant Additives Exports

Exports from Belarus

In 2021, shipments abroad of prepared additives for mineral oils was finally on the rise to reach X tons after two years of decline. In general, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of 2,176% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, lubricant additives exports amounted to $X in 2021. Over the period under review, exports posted prominent growth. The most prominent rate of growth was recorded in 2014 when exports increased by 712% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Latvia (X tons) was the main destination for lubricant additives exports from Belarus, with a 56% share of total exports. Moreover, lubricant additives exports to Latvia exceeded the volume sent to the second major destination, Russia (X tons), threefold. Singapore (X tons) ranked third in terms of total exports with a 9.2% share.

From 2012 to 2021, the average annual growth rate of volume to Latvia stood at +98.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (-2.9% per year) and Singapore (+33.1% per year).

In value terms, the largest markets for lubricant additives exported from Belarus were Latvia ($X), Russia ($X) and Singapore ($X), together accounting for 68% of total exports. These countries were followed by the Netherlands, the United Arab Emirates, Germany and the UK, which together accounted for a further 22%.

Among the main countries of destination, Germany, with a CAGR of +84.8%, recorded 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, declining by -8% against the previous year. Over the period under review, the export price continues to indicate a slight curtailment. The most prominent rate of growth was recorded in 2019 when the average export price increased by 123% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Latvia ($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 UK (+22.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Belarus

In 2021, after two years of growth, there was decline in supplies from abroad of prepared additives for mineral oils, when their volume decreased by -1.3% to X tons. In general, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2019 with an increase of 83% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then dropped slightly in the following year.

In value terms, lubricant additives imports expanded notably to $X in 2021. Overall, imports, however, enjoyed a pronounced increase. The pace of growth appeared the most rapid in 2017 with an increase of 47% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of lubricant additives to Belarus, with a 76% share of total imports. Moreover, lubricant additives imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was taken by China (X tons), with a 5.1% share.

From 2012 to 2021, the average annual growth rate of volume from Russia stood at +23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.9% per year) and China (+44.9% per year).

In value terms, Russia ($X) constituted the largest supplier of prepared additives for mineral oils to Belarus, comprising 62% of total imports. The second position in the ranking was held by Germany ($X), with a 12% share of total imports. It was followed by China, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia amounted to +15.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.2% per year) and China (+41.8% per year).

Import Prices by Country

In 2021, the average lubricant additives import price amounted to $X per ton, surging by 10% against the previous year. Overall, the import price, however, showed a deep contraction. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (-1.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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