Northern America: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Northern America

The North American market for petroleum lubricating oil and grease was estimated at $X in 2022, approximately equating the previous year. Overall, consumption, however, showed a perceptible setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Petroleum Lubricating Oil And Grease in Northern America

In value terms, petroleum lubricating oil and grease production stood at $X in 2022 estimated in export price. In general, production, however, saw a noticeable descent. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports in Northern America

In 2022, shipments abroad of petroleum lubricating oil and grease increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, exports, however, recorded a slight shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, petroleum lubricating oil and grease exports skyrocketed 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 remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, the United States (X tons) was the largest exporter of petroleum lubricating oil and grease, mixing up X% of total exports. It was distantly followed by Canada (X tons), making up a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to petroleum lubricating oil and grease exports from the United States stood at X%. At the same time, Canada (X%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing exporter exported in Northern America, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Canada increased by X percentage points.

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

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled X%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, surging by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Imports of Petroleum Lubricating Oil And Grease

Imports in Northern America

In 2022, supplies from abroad of petroleum lubricating oil and grease increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume 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 most prominent rate of growth was recorded in 2013 when imports increased by X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, petroleum lubricating oil and grease imports skyrocketed to $X in 2022. Total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

In 2022, Canada (X tons) represented the main importer of petroleum lubricating oil and grease, creating X% of total imports. It was distantly followed by the United States (X tons), committing a X% share of total imports.

Canada was also the fastest-growing in terms of the petroleum lubricating oil and grease imports, with a CAGR of X% from 2012 to 2022. At the same time, the United States (X%) displayed positive paces of growth. Canada (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest petroleum lubricating oil and grease importing markets in Northern America were Canada ($X) and the United States ($X).

In terms of the main importing countries, the United States, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

In 2022, the import price in Northern America amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%).

Source: IndexBox Platform

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