Indonesia: Lubricant Additives Market 2024

Lubricant Additives Market Size in Indonesia

The Indonesian lubricant additives market stood at $X in 2021, almost unchanged from the previous year. In general, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +6.1% against 2019 indices. Lubricant additives consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Lubricant Additives Production in Indonesia

In value terms, lubricant additives production declined to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 42%. As a result, production attained the peak level of $X, and then reduced in the following year.

Lubricant Additives Exports

Exports from Indonesia

In 2021, shipments abroad of prepared additives for mineral oils was finally on the rise to reach X tons after two years of decline. Overall, exports, however, showed a drastic downturn. The growth pace was the most rapid in 2013 when exports increased by 114% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, lubricant additives exports surged to $X in 2021. Over the period under review, exports, however, saw a deep reduction. The most prominent rate of growth was recorded in 2013 with an increase of 82% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Philippines (X tons), South Africa (X tons) and Malaysia (X tons) were the main destinations of lubricant additives exports from Indonesia, with a combined 74% share of total exports. These countries were followed by Pakistan, Singapore, Papua New Guinea, Vietnam, Thailand and Sri Lanka, which together accounted for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Papua New Guinea (with a CAGR of +169.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricant additives exported from Indonesia were South Africa ($X), the Philippines ($X) and Vietnam ($X), with a combined 60% share of total exports. Singapore, Papua New Guinea, Malaysia, Pakistan, Thailand and Sri Lanka lagged somewhat behind, together accounting for a further 31%.

In terms of the main countries of destination, Papua New Guinea, with a CAGR of +175.0%, saw 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 lubricant additives export price stood at $X per ton in 2021, reducing by -2.6% against the previous year. In general, export price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lubricant additives export price decreased by -5.6% against 2018 indices. The most prominent rate of growth was recorded in 2018 an increase of 26%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Sri Lanka ($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 Vietnam (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Indonesia

After two years of decline, purchases abroad of prepared additives for mineral oils increased by 22% to X tons in 2021. Over the period under review, total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +3.8% 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 -10.7% against 2018 indices. The growth pace was the most rapid in 2018 when imports increased by 23% against the previous year. 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, lubricant additives imports surged to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Over the period under review, imports hit record highs 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 lubricant additives to Indonesia, with a 57% share of total imports. Moreover, lubricant additives imports from Singapore exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold. The third position in this ranking was taken by the United States (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from Singapore stood at +16.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+23.6% per year) and the United States (-12.9% per year).

In value terms, Singapore ($X) constituted the largest supplier of prepared additives for mineral oils to Indonesia, comprising 51% of total imports. The second position in the ranking was taken by the United States ($X), with a 16% share of total imports. It was followed by Japan, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from Singapore totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-11.0% per year) and Japan (+12.2% per year).

Import Prices by Country

In 2021, the average lubricant additives import price amounted to $X per ton, flattening at the previous year. Overall, the import price recorded a slight slump. The pace of growth appeared the most rapid in 2013 when the average import price increased by 5.5%. 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 ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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