Japan: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Japan

In 2022, the Japanese market for petroleum lubricating oil and grease was finally on the rise to reach $X after four years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded 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 Japan

In value terms, petroleum lubricating oil and grease production shrank modestly 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 indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Petroleum lubricating oil and grease production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Japan

In 2022, petroleum lubricating oil and grease exports from Japan reduced markedly to X tons, shrinking by X% against the previous year's figure. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then reduced sharply in the following year.

In value terms, petroleum lubricating oil and grease exports contracted to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

China (X tons) was the main destination for petroleum lubricating oil and grease exports from Japan, accounting for a X% share of total exports. Moreover, petroleum lubricating oil and grease exports to China exceeded the volume sent to the second major destination, India (X tons), sevenfold. The third position in this ranking was held by Indonesia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Indonesia (X% per year).

In value terms, China ($X) remains the key foreign market for petroleum lubricating oil and grease exports from Japan, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and South Korea (X% per year).

Export Prices by Country

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. 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 the United States ($X per ton), while the average price for exports to India ($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 South Korea (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Japan

In 2022, after three years of decline, there was significant growth in overseas purchases of petroleum lubricating oil and grease, when their volume increased by X% to X tons. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Singapore (X tons), the United States (X tons) and France (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Japan, with a combined X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest petroleum lubricating oil and grease suppliers to Japan were the United States ($X), France ($X) and Singapore ($X), together accounting for X% of total imports.

Among the main suppliers, Singapore, with a CAGR of X%, 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

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

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 States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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