Indonesia: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Indonesia

In 2021, the Indonesian lubricating oil additive market decreased by -1.6% to $X for the first time since 2014, thus ending a six-year rising trend. Over the period under review, consumption enjoyed a prominent expansion. Lubricating oil additive consumption peaked at $X in 2020, and then contracted slightly in the following year.

Lubricating Oil Additive Production in Indonesia

In value terms, lubricating oil additive production dropped to $X in 2021 estimated in export price. In general, production, however, continues to indicate a buoyant increase. The pace of growth was the most pronounced in 2015 when the production volume increased by 35%. Over the period under review, production reached the maximum level at $X in 2020, and then shrank in the following year.

Lubricating Oil Additive Exports

Exports from Indonesia

In 2021, overseas shipments of additives for lubricating oils decreased by -47.5% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports recorded a dramatic setback. The pace of growth was the most pronounced in 2013 with an increase of 264%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, lubricating oil additive exports reduced to $X in 2021. In general, exports recorded a deep slump. The pace of growth was the most pronounced in 2013 when exports increased by 231%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Singapore (X tons) was the main destination for lubricating oil additive exports from Indonesia, accounting for a 44% share of total exports. Moreover, lubricating oil additive exports to Singapore exceeded the volume sent to the second major destination, Bangladesh (X tons), twofold. Qatar (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Singapore stood at -36.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (0.0% per year) and Qatar (0.0% per year).

In value terms, Singapore ($X), Qatar ($X) and Australia ($X) were the largest markets for lubricating oil additive exported from Indonesia worldwide, together comprising 77% of total exports. The United Arab Emirates, Bangladesh, India, Taiwan (Chinese) and Malaysia lagged somewhat behind, together accounting for a further 17%.

Among the main countries of destination, India, with a CAGR of +1.7%, 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

The average lubricating oil additive export price stood at $X per ton in 2021, growing by 68% against the previous year. Over the period under review, the export price continues to indicate buoyant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Qatar ($X per ton), while the average price for exports to Bangladesh ($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 Australia (+88.2%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports into Indonesia

In 2021, after two years of decline, there was significant growth in purchases abroad of additives for lubricating oils, when their volume increased by 21% to X tons. Overall, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -7.7% against 2018 indices. The pace of growth appeared the most rapid in 2018 with an increase of 23%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, lubricating oil additive imports soared to $X in 2021. The total import value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Singapore (X tons) constituted the largest supplier of lubricating oil additive to Indonesia, with a 68% share of total imports. Moreover, lubricating oil additive imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was taken by the United States (X tons), with a 7.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore totaled +17.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+53.1% per year) and the United States (-16.2% per year).

In value terms, Singapore ($X) constituted the largest supplier of additives for lubricating oils to Indonesia, comprising 62% of total imports. The second position in the ranking was held by China ($X), with a 12% share of total imports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Singapore stood at +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+52.1% per year) and the United States (-14.9% per year).

Import Prices by Country

The average lubricating oil additive import price stood at $X per ton in 2021, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, recorded a perceptible contraction. The pace of growth appeared the most rapid in 2013 when the average import price increased by 6.6%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+1.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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