Iran: Lubricant Additives Market 2024

Lubricant Additives Market Size in Iran

The Iranian lubricant additives market dropped sharply to $X in 2021, waning by -47.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a pronounced reduction. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Lubricant Additives Exports

Exports from Iran

In 2021, approx. X tons of prepared additives for mineral oils were exported from Iran; with a decrease of -63.1% against the previous year's figure. Overall, exports faced a dramatic descent. The most prominent rate of growth was recorded in 2015 when exports increased by 420% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, lubricant additives exports declined significantly to $X in 2021. In general, exports faced a precipitous decrease. The pace of growth appeared the most rapid in 2015 with an increase of 560%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for lubricant additives exports from Iran, accounting for a 60% share of total exports. Moreover, lubricant additives exports to Turkey exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Turkey stood at -37.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-42.7% per year) and Armenia (-2.5% per year).

In value terms, Turkey ($X), the United Arab Emirates ($X) and Armenia ($X) were the largest markets for lubricant additives exported from Iran worldwide, together comprising 44% of total exports.

Armenia, with a CAGR of -2.5%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average lubricant additives export price stood at $X per ton in 2021, with an increase of 85% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 Armenia ($X per ton), while the average price for exports to Turkey ($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 United Arab Emirates (+1.4%), while the prices for the other major destinations experienced mixed trend patterns.

Lubricant Additives Imports

Imports into Iran

In 2021, approx. X tons of prepared additives for mineral oils were imported into Iran; dropping by -47.8% against the previous year. In general, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2014 when imports increased by 53% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, lubricant additives imports shrank significantly to $X in 2021. Overall, imports saw a abrupt setback. The growth pace was the most rapid in 2013 when imports increased by 60% against the previous year. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), the United Arab Emirates (X tons) and Turkey (X tons) were the main suppliers of lubricant additives imports to Iran, with a combined 93% share of total imports. These countries were followed by Austria and Italy, which together accounted for a further 2.2%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +26.0%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X), China ($X) and Turkey ($X) were the largest lubricant additives suppliers to Iran, together comprising 89% of total imports. These countries were followed by Austria and Italy, which together accounted for a further 3.1%.

Austria, with a CAGR of +30.9%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average lubricant additives import price amounted to $X per ton, with an increase of 1.5% against the previous year. In general, the import price, however, recorded a perceptible shrinkage. The pace of growth appeared the most rapid in 2017 when the average import price increased by 13% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 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 Austria ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :