South Africa: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in South Africa

The South African lubricating oil additive market shrank modestly to $X in 2021, almost unchanged from the previous year. In general, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +3.4% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Lubricating Oil Additive Production in South Africa

In value terms, lubricating oil additive production fell modestly to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate strong growth. The growth pace was the most rapid in 2013 when the production volume increased by 61% against the previous year. Lubricating oil additive production peaked at $X in 2020, and then reduced slightly in the following year.

Lubricating Oil Additive Exports

Exports from South Africa

After four years of growth, shipments abroad of additives for lubricating oils decreased by -32.9% to X tons in 2021. Over the period under review, exports continue to indicate a deep reduction. The growth pace was the most rapid in 2020 with an increase of 39%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, lubricating oil additive exports contracted to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by 30%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Kenya (X tons) was the main destination for lubricating oil additive exports from South Africa, accounting for a 31% share of total exports. Moreover, lubricating oil additive exports to Kenya exceeded the volume sent to the second major destination, Tanzania (X tons), twofold. The third position in this ranking was taken by Zambia (X tons), with a 9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Kenya amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+10.5% per year) and Zambia (-9.3% per year).

In value terms, Kenya ($X) remains the key foreign market for additives for lubricating oils exports from South Africa, comprising 27% of total exports. The second position in the ranking was taken by Tanzania ($X), with a 13% share of total exports. It was followed by Zambia, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to Kenya amounted to +1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tanzania (+6.4% per year) and Zambia (-10.1% per year).

Export Prices by Country

In 2021, the average lubricating oil additive export price amounted to $X per ton, growing by 29% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +7.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the average export price increased by 81% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Botswana ($X per ton), while the average price for exports to Nigeria ($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 Kenya (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports into South Africa

In 2021, overseas purchases of additives for lubricating oils increased by 0.7% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 11%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, lubricating oil additive imports fell to $X in 2021. In general, imports, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2017 when imports increased by 14%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), the United States (X tons) and Singapore (X tons) were the main suppliers of lubricating oil additive imports to South Africa, with a combined 64% share of total imports. These countries were followed by Belgium, Italy, the United Arab Emirates and Germany, which together accounted for a further 31%.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +21.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricating oil additive suppliers to South Africa were the United States ($X), France ($X) and Belgium ($X), with a combined 64% share of total imports. These countries were followed by Singapore, Italy, Germany and the United Arab Emirates, which together accounted for a further 31%.

The United Arab Emirates, with a CAGR of +23.9%, saw the highest rates of growth with regard to 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

In 2021, the average lubricating oil additive import price amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 2.7%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Germany ($X per ton), while the price for Singapore ($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 Arab Emirates (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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