Pakistan: Lubricant Additives Market 2024

Lubricant Additives Market Size in Pakistan

The Pakistani lubricant additives market reached $X in 2021, increasing by 11% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a relatively flat trend pattern. Lubricant additives consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Lubricant Additives Exports

Exports from Pakistan

Lubricant additives exports from Pakistan contracted to X tons in 2021, falling by -12.2% compared with the previous year's figure. Overall, exports, however, recorded resilient growth. The growth pace was the most rapid in 2016 when exports increased by 377% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, lubricant additives exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 427% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the near future.

Exports by Country

The United Arab Emirates (X tons), the United States (X tons) and Oman (X tons) were the main destinations of lubricant additives exports from Pakistan, together comprising 70% of total exports. These countries were followed by Ethiopia, Thailand, Vietnam and the Philippines, which together accounted for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +43.7%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for prepared additives for mineral oils exports from Pakistan, comprising 49% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 19% share of total exports. It was followed by Oman, with a 5.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +55.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-2.6% per year) and Oman (+3.7% per year).

Export Prices by Country

The average lubricant additives export price stood at $X per ton in 2021, jumping by 62% against the previous year. Overall, the export price, however, saw a perceptible slump. The growth pace was the most rapid in 2019 when the average export price increased by 91%. 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Ethiopia ($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 the United States (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Pakistan

Lubricant additives imports into Pakistan expanded sharply to X tons in 2021, increasing by 8% on the year before. Over the period under review, total imports indicated moderate growth from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.8% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 46%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, lubricant additives imports stood at $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 32%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Singapore (X tons) constituted the largest supplier of lubricant additives to Pakistan, with a 61% share of total imports. Moreover, lubricant additives imports from Singapore exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. The third position in this ranking was held by China (X tons), with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from Singapore amounted to +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.3% per year) and China (+23.2% per year).

In value terms, Singapore ($X) constituted the largest supplier of prepared additives for mineral oils to Pakistan, comprising 54% of total imports. The second position in the ranking was held by the United States ($X), with a 13% share of total imports. It was followed by France, with a 6.2% share.

From 2012 to 2021, the average annual growth rate of value from Singapore totaled +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-5.1% per year) and France (-3.9% per year).

Import Prices by Country

In 2021, the average lubricant additives import price amounted to $X per ton, surging by 4.2% against the previous year. In general, the import price, however, showed a perceptible slump. The pace of growth was the most pronounced in 2016 an increase of 36% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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