Canada: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Canada

After three years of growth, the Canadian lubricating oil additive market decreased by -6.3% to $X in 2021. The market value increased at an average annual rate of +4.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020, and then reduced in the following year.

Lubricating Oil Additive Production in Canada

In value terms, lubricating oil additive production dropped modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +9.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +37.3% against 2017 indices. The growth pace was the most rapid in 2018 when the production volume increased by 33% against the previous year. Lubricating oil additive production peaked at $X in 2020, and then shrank slightly in the following year.

Lubricating Oil Additive Exports

Exports from Canada

After two years of decline, shipments abroad of additives for lubricating oils increased by 30% to X tons in 2021. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lubricating oil additive exports soared to $X in 2021. The total export value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for lubricating oil additive exports from Canada, with a 73% share of total exports. Moreover, lubricating oil additive exports to the United States exceeded the volume sent to the second major destination, Singapore (X tons), ninefold. The third position in this ranking was held by Japan (X tons), with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+13.5% per year) and Japan (+0.6% per year).

In value terms, the United States ($X) remains the key foreign market for additives for lubricating oils exports from Canada, comprising 73% of total exports. The second position in the ranking was taken by Japan ($X), with an 8% share of total exports. It was followed by Singapore, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value to the United States was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Japan (+1.5% per year) and Singapore (+11.8% per year).

Export Prices by Country

The average lubricating oil additive export price stood at $X per ton in 2021, picking up by 5.5% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average export price increased by 6.2% 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Singapore ($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 China (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports into Canada

In 2021, after four years of decline, there was growth in overseas purchases of additives for lubricating oils, when their volume increased by 0.6% to X tons. Overall, imports, however, saw a abrupt decline. The pace of growth was the most pronounced in 2016 when imports increased by 7.8% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, lubricating oil additive imports stood at $X in 2021. Over the period under review, imports, however, continue to indicate a noticeable decrease. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) was the main lubricating oil additive supplier to Canada, with a 95% share of total imports. It was followed by the United Arab Emirates (X tons), with a 1.6% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to -5.6%.

In value terms, the United States ($X) constituted the largest supplier of additives for lubricating oils to Canada, comprising 95% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a 1.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -4.7%.

Import Prices by Country

In 2021, the average lubricating oil additive import price amounted to $X per ton, with an increase of 9% against the previous year. Overall, the import price saw modest growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+1.0%).

Source: IndexBox Platform

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