Northern America: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Northern America

In 2021, the North American lubricating oil additive market decreased by -0.4% to $X for the first time since 2016, thus ending a four-year rising trend. The total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.5% 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 +66.4% against 2016 indices. Over the period under review, the market hit record highs at $X in 2020, and then dropped in the following year.

Lubricating Oil Additive Production in Northern America

In value terms, lubricating oil additive production reached $X in 2021 estimated in export price. The total production indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.6% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 22%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a lower figure.

Lubricating Oil Additive Exports

Exports in Northern America

In 2021, overseas shipments of additives for lubricating oils increased by 3.4% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a mild setback. The most prominent rate of growth was recorded in 2013 when exports increased by 9% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, lubricating oil additive exports rose markedly to $X in 2021. Over the period under review, exports, however, saw a slight setback. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

The United States prevails in exports structure, recording X tons, which was approx. 93% of total exports in 2021. It was distantly followed by Canada (X tons), committing a 7.4% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to lubricating oil additive exports from the United States stood at -1.8%. At the same time, Canada (+1.1%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of +1.1% from 2012-2021. From 2012 to 2021, the share of Canada increased by +1.6 percentage points.

In value terms, the United States ($X) remains the largest lubricating oil additive supplier in Northern America, comprising 93% of total exports. The second position in the ranking was held by Canada ($X), with a 6.7% share of total exports.

From 2012 to 2021, the average annual growth rate of value in the United States totaled -1.6%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, with an increase of 8.9% against the previous year. Over the period under review, the export price saw 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.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada 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 (+0.2%).

Lubricating Oil Additive Imports

Imports in Northern America

In 2021, supplies from abroad of additives for lubricating oils was finally on the rise to reach X tons after two years of decline. Over the period under review, imports saw a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, lubricating oil additive imports surged to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United States represented the main importer of additives for lubricating oils in Northern America, with the volume of imports accounting for X tons, which was approx. 76% of total imports in 2021. It was distantly followed by Canada (X tons), mixing up a 24% share of total imports.

The United States was also the fastest-growing in terms of the additives for lubricating oils imports, with a CAGR of +3.1% from 2012 to 2021. Canada (-5.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of the United States increased by +16 percentage points.

In value terms, the United States ($X) constitutes the largest market for imported additives for lubricating oils in Northern America, comprising 73% of total imports. The second position in the ranking was held by Canada ($X), with a 27% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value in the United States amounted to +2.0%.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, rising by 4.6% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 4.9% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+1.0%).

Source: IndexBox Platform

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