Japan: Lubricant Additives Market 2024

Lubricant Additives Market Size in Japan

The Japanese lubricant additives market fell to $X in 2021, declining by -5.4% against the previous year. Over the period under review, consumption continues to indicate a noticeable reduction. The growth pace was the most rapid in 2020 with an increase of 7.2% against the previous year. Lubricant additives consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Lubricant Additives Production in Japan

In value terms, lubricant additives production declined to $X in 2021 estimated in export price. In general, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 34% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Lubricant Additives Exports

Exports from Japan

In 2021, shipments abroad of prepared additives for mineral oils was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +4.3% over the period 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.

In value terms, lubricant additives exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +3.3% over the period 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 lubricant additives exports from Japan, with a combined 61% share of total exports. These countries were followed by South Korea, Indonesia, India, Taiwan (Chinese), Singapore and Canada, which together accounted for a further 29%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +21.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricant additives exported from Japan were China ($X), the United States ($X) and Thailand ($X), with a combined 58% share of total exports. These countries were followed by South Korea, Indonesia, India, Taiwan (Chinese), Singapore and Canada, which together accounted for a further 28%.

India, with a CAGR of +17.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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, dropping by -2.6% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 7.1% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to Canada ($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 (+1.7%), while the prices for the other major destinations experienced a decline.

Lubricant Additives Imports

Imports into Japan

After three years of decline, overseas purchases of prepared additives for mineral oils increased by 4.9% to X tons in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 5.1% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, lubricant additives imports expanded rapidly to $X in 2021. In general, imports, however, showed a perceptible shrinkage. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Singapore (X tons) constituted the largest lubricant additives supplier to Japan, with a 56% share of total imports. Moreover, lubricant additives imports from Singapore exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Singapore amounted to +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.6% per year) and Germany (+0.5% per year).

In value terms, the largest lubricant additives suppliers to Japan were Singapore ($X), the United States ($X) and Germany ($X), together accounting for 82% of total imports. France, Canada, Italy and Brazil lagged somewhat behind, together accounting for a further 12%.

Brazil, with a CAGR of +34.3%, saw 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 more modest paces of growth.

Import Prices by Country

In 2021, the average lubricant additives import price amounted to $X per ton, increasing by 3.6% against the previous year. Overall, the import price, however, showed a slight setback. The growth pace was the most rapid in 2018 when the average import price increased by 7%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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