South-Eastern Asia: Lubricant Additives Market 2024

Lubricant Additives Market Size in South-Eastern Asia

The Southeast Asian lubricant additives market totaled $X in 2021, surging by 1.7% against the previous year. In general, consumption showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the market value increased by 8.4% against the previous year. Over the period under review, the market hit record highs at $X in 2018; afterwards, it flattened through to 2021.

Lubricant Additives Production in South-Eastern Asia

In value terms, lubricant additives production contracted modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 when the production volume increased by 10% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Lubricant Additives Exports

Exports in South-Eastern Asia

In 2021, after two years of decline, there was significant growth in shipments abroad of prepared additives for mineral oils, when their volume increased by 17% to X tons. The total export volume increased at an average annual rate of +3.3% from 2012 to 2021; the trend pattern remained relatively stable, 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.

In value terms, lubricant additives exports surged to $X in 2021. The total export value increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Singapore prevails in exports structure, reaching X tons, which was approx. 96% of total exports in 2021. Thailand (X tons) took a little share of total exports.

Exports from Singapore increased at an average annual rate of +3.1% from 2012 to 2021. At the same time, Thailand (+21.6%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +21.6% from 2012-2021. From 2012 to 2021, the share of Singapore decreased by -1.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) remains the largest lubricant additives supplier in South-Eastern Asia, comprising 97% of total exports. The second position in the ranking was held by Thailand ($X), with a 0.7% share of total exports.

In Singapore, lubricant additives exports increased at an average annual rate of +1.2% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in South-Eastern Asia amounted to $X per ton, remaining stable against the previous year. Over the period under review, the export price, however, showed a slight setback. The most prominent rate of growth was recorded in 2019 an increase of 2.7%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Thailand totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-1.9%).

Lubricant Additives Imports

Imports in South-Eastern Asia

After three years of decline, overseas purchases of prepared additives for mineral oils increased by 16% to X tons in 2021. The total import volume increased at an average annual rate of +1.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, lubricant additives imports expanded notably to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Singapore (X tons) was the major importer of prepared additives for mineral oils, mixing up 50% of total imports. Indonesia (X tons) took the second position in the ranking, followed by Thailand (X tons), Malaysia (X tons) and Vietnam (X tons). All these countries together held approx. 47% share of total imports. The Philippines (X tons) took a little share of total imports.

From 2012 to 2021, average annual rates of growth with regard to lubricant additives imports into Singapore stood at +1.1%. At the same time, Vietnam (+4.3%), Indonesia (+3.8%), Thailand (+3.7%) and the Philippines (+3.4%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +4.3% from 2012-2021. By contrast, Malaysia (-3.5%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Indonesia and Thailand increased by +3.2 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported prepared additives for mineral oils in South-Eastern Asia, comprising 46% of total imports. The second position in the ranking was held by Thailand ($X), with a 17% share of total imports. It was followed by Indonesia, with a 17% share.

From 2012 to 2021, the average annual growth rate of value in Singapore was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+2.5% per year) and Indonesia (+1.9% per year).

Import Prices by Country

In 2021, the import price in South-Eastern Asia amounted to $X per ton, shrinking by -1.7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 4% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in the Philippines ($X per ton) and Vietnam ($X per ton), while Singapore ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+3.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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