Japan: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Japan

The Japanese lubricating oil additive market was estimated at $X in 2021, increasing by 3.4% against the previous year. In general, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -4.9% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Lubricating Oil Additive Production in Japan

In value terms, lubricating oil additive production expanded modestly to $X in 2021 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -3.7% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 34%. Lubricating oil additive production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Lubricating Oil Additive Exports

Exports from Japan

In 2021, after two years of decline, there was significant growth in overseas shipments of additives for lubricating oils, when their volume increased by 20% to X tons. The total export volume increased at an average annual rate of +4.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. 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 skyrocketed to $X in 2021. The total export value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded 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

China (X tons), the United States (X tons) and Thailand (X tons) were the main destinations of lubricating oil additive exports from Japan, together comprising 63% of total exports. These countries were followed by South Korea, Indonesia, India, Taiwan (Chinese) and Singapore, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +21.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricating oil additive exported from Japan were China ($X), the United States ($X) and South Korea ($X), with a combined 60% share of total exports. Thailand, Indonesia, India, Taiwan (Chinese) and Singapore lagged somewhat behind, together accounting for a further 29%.

Among the main countries of destination, India, with a CAGR of +16.5%, 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

In 2021, the average lubricating oil additive export price amounted to $X per ton, remaining stable against the previous year. Overall, the export price showed a mild downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 6.3% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Singapore (+3.1%), while the prices for the other major destinations experienced a decline.

Lubricating Oil Additive Imports

Imports into Japan

In 2021, overseas purchases of additives for lubricating oils increased by 6.3% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, imports, however, recorded a relatively flat trend pattern. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, lubricating oil additive imports expanded rapidly to $X in 2021. Over the period under review, imports, however, continue to indicate a noticeable descent. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Singapore (X tons) constituted the largest supplier of lubricating oil additive to Japan, accounting for a 59% share of total imports. Moreover, lubricating oil additive imports from Singapore exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 3.5% share.

From 2012 to 2021, the average annual growth rate of volume from Singapore totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-7.1% per year) and Italy (-10.1% per year).

In value terms, Singapore ($X), the United States ($X) and France ($X) constituted the largest lubricating oil additive suppliers to Japan, with a combined 83% share of total imports. These countries were followed by Germany, Canada, Italy, Brazil and Mexico, which together accounted for a further 12%.

In terms of the main suppliers, Brazil, with a CAGR of +34.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average lubricating oil additive import price amounted to $X per ton, picking up by 3.1% against the previous year. Over the period under review, the import price, however, recorded a slight descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 7%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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