South Africa: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in South Africa

In 2022, the South African market for petroleum lubricating oil and grease increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Production of Petroleum Lubricating Oil And Grease in South Africa

In value terms, petroleum lubricating oil and grease production stood at $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Petroleum Lubricating Oil And Grease

Exports from South Africa

In 2022, shipments abroad of petroleum lubricating oil and grease increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports, however, showed a deep downturn. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, petroleum lubricating oil and grease exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Zambia (X tons), Mozambique (X tons) and Botswana (X tons) were the main destinations of petroleum lubricating oil and grease exports from South Africa, together comprising X% of total exports. Saudi Arabia, Democratic Republic of the Congo, Namibia, Ghana, Angola, Tanzania, Zimbabwe and Lesotho lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for petroleum lubricating oil and grease exported from South Africa were Zambia ($X), Mozambique ($X) and Democratic Republic of the Congo ($X), together comprising X% of total exports.

In terms of the main countries of destination, Democratic Republic of the Congo, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for petroleum lubricating oil and grease amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a mild curtailment. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Democratic Republic of the Congo ($X per ton), while the average price for exports to Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Botswana (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into South Africa

In 2022, overseas purchases of petroleum lubricating oil and grease increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, imports, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, petroleum lubricating oil and grease imports soared to $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest petroleum lubricating oil and grease supplier to South Africa, with a X% share of total imports. Moreover, petroleum lubricating oil and grease imports from Germany exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. France (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and France (X% per year).

In value terms, Germany ($X) constituted the largest supplier of petroleum lubricating oil and grease to South Africa, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by France, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and France (X% per year).

Import Prices by Country

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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