Mexico: Lubricant Additives Market 2024

Lubricant Additives Market Size in Mexico

The Mexican lubricant additives market soared to $X in 2021, picking up by 38% against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +11.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +39.1% against 2015 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Lubricant Additives Production in Mexico

In value terms, lubricant additives production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 35% against the previous year. Lubricant additives production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Lubricant Additives Exports

Exports from Mexico

In 2021, overseas shipments of prepared additives for mineral oils increased by 44% to X tons, rising for the fourth year in a row after three years of decline. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 88% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, lubricant additives exports rose rapidly to $X in 2021. Overall, exports, however, continue to indicate a slight decline. The growth pace was the most rapid in 2014 with an increase of 16% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for lubricant additives exports from Mexico, accounting for a 98% share of total exports. It was followed by Japan (X tons), with a 0.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at +4.5%.

In value terms, the United States ($X) remains the key foreign market for prepared additives for mineral oils exports from Mexico, comprising 98% of total exports. The second position in the ranking was held by Japan ($X), with a 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States totaled +4.3%.

Export Prices by Country

In 2021, the average lubricant additives export price amounted to $X per ton, reducing by -22.1% against the previous year. In general, the export price recorded a mild descent. The most prominent rate of growth was recorded in 2016 an increase of 92% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Japan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+33.8%), while the prices for the other major destinations experienced mixed trend patterns.

Lubricant Additives Imports

Imports into Mexico

In 2021, approx. X tons of prepared additives for mineral oils were imported into Mexico; rising by 77% compared with the previous year's figure. Over the period under review, imports saw a resilient increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives imports skyrocketed to $X in 2021. In general, imports enjoyed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) was the main supplier of lubricant additives to Mexico, accounting for a 94% share of total imports. It was followed by Japan (X tons), with a 1.8% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +16.5%.

In value terms, the United States ($X) constituted the largest supplier of prepared additives for mineral oils to Mexico, comprising 97% of total imports. The second position in the ranking was taken by Japan ($X), with a 0.4% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States stood at +14.5%.

Import Prices by Country

In 2021, the average lubricant additives import price amounted to $X per ton, which is down by -3.7% against the previous year. In general, the import price recorded a mild decline. The most prominent rate of growth was recorded in 2013 an increase of 5.5% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Japan stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (-1.7%).

Source: IndexBox Platform

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