Iran: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Iran

In 2022, the Iranian market for petroleum lubricating oil and grease increased by X% to $X, rising for the second consecutive year after three years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Petroleum Lubricating Oil And Grease in Iran

In value terms, petroleum lubricating oil and grease production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Iran

In 2022, shipments abroad of petroleum lubricating oil and grease increased by X% to X tons, rising for the second consecutive year after five years of decline. Overall, exports, however, faced a deep contraction. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, petroleum lubricating oil and grease exports soared to $X in 2022. In general, exports, however, saw a deep contraction. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons) was the main destination for petroleum lubricating oil and grease exports from Iran, accounting for a X% share of total exports. Moreover, petroleum lubricating oil and grease exports to Taiwan (Chinese) exceeded the volume sent to the second major destination, Azerbaijan (X tons), sevenfold. Pakistan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Taiwan (Chinese) stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (X% per year) and Pakistan (X% per year).

In value terms, Taiwan (Chinese) ($X), Uzbekistan ($X) and Azerbaijan ($X) were the largest markets for petroleum lubricating oil and grease exported from Iran worldwide, with a combined X% share of total exports. Pakistan and Armenia lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Pakistan, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the average export price for petroleum lubricating oil and grease amounted to $X per ton, waning by X% against the previous year. Overall, the export price recorded a deep downturn. The growth pace was the most rapid in 2020 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (X%), while the prices for the other major destinations experienced a decline.

Imports of Petroleum Lubricating Oil And Grease

Imports into Iran

Petroleum lubricating oil and grease imports into Iran soared to X tons in 2022, increasing by X% against the previous year's figure. In general, imports saw a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, petroleum lubricating oil and grease imports surged to $X in 2022. Overall, imports saw a perceptible increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of petroleum lubricating oil and grease to Iran, with a X% share of total imports. Moreover, petroleum lubricating oil and grease imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. Turkey (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Turkey (X% per year).

In value terms, China ($X) constituted the largest supplier of petroleum lubricating oil and grease to Iran, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Turkey (X% per year).

Import Prices by Country

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the import price saw a noticeable shrinkage. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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