Russian Federation: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in the Russian Federation

In 2021, the Russian lubricating oil additive market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +4.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Lubricating Oil Additive Production in the Russian Federation

In value terms, lubricating oil additive production rose modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.6% 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 56%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Lubricating Oil Additive Exports

Exports from the Russian Federation

In 2021, shipments abroad of additives for lubricating oils increased by 8% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, exports showed strong growth. The most prominent rate of growth was recorded in 2016 with an increase of 370%. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

In value terms, lubricating oil additive exports soared to $X in 2021. In general, exports posted a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of 386%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Belarus (X tons) was the main destination for lubricating oil additive exports from Russia, with a 58% share of total exports. Moreover, lubricating oil additive exports to Belarus exceeded the volume sent to the second major destination, Belgium (X tons), fivefold. Lithuania (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belarus stood at +67.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+150.5% per year) and Lithuania (+85.0% per year).

In value terms, Belarus ($X) remains the key foreign market for additives for lubricating oils exports from Russia, comprising 47% of total exports. The second position in the ranking was taken by Belgium ($X), with a 12% share of total exports. It was followed by Lithuania, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to Belarus stood at +72.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+141.6% per year) and Lithuania (+69.3% per year).

Export Prices by Country

The average lubricating oil additive export price stood at $X per ton in 2021, surging by 27% against the previous year. In general, the export price, however, recorded a mild setback. The export price peaked at $X per ton in 2013; however, from 2014 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 Kazakhstan ($X per ton), while the average price for exports to Turkmenistan ($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 Belarus (+3.5%), while the prices for the other major destinations experienced mixed trend patterns.

Lubricating Oil Additive Imports

Imports into the Russian Federation

In 2021, purchases abroad of additives for lubricating oils decreased by less than 0.1% to X tons for the first time since 2013, thus ending a seven-year rising trend. Over the period under review, imports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2019 with an increase of 24%. Over the period under review, imports reached the peak figure at X tons in 2020, and then dropped modestly in the following year.

In value terms, lubricating oil additive imports skyrocketed to $X in 2021. In general, imports, however, recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France (X tons), Italy (X tons) and Belarus (X tons) were the main suppliers of lubricating oil additive imports to Russia, together accounting for 73% of total imports. These countries were followed by Belgium, Germany and the United States, which together accounted for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +18.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Italy ($X) and Belgium ($X) appeared to be the largest lubricating oil additive suppliers to Russia, together comprising 69% of total imports.

Belgium, with a CAGR of +19.8%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lubricating oil additive import price stood at $X per ton in 2021, growing by 16% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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