U.S.: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in the U.S.

In 2021, the U.S. lubricating oil additive market increased by 0.4% to $X, rising for the fifth year in a row after two years of decline. Over the period under review, consumption, however, showed a strong expansion. Lubricating oil additive consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Lubricating Oil Additive Production in the U.S.

In value terms, lubricating oil additive production amounted to $X in 2021. In general, the total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -1.9% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 24% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2021, production growth failed to regain momentum.

Lubricating Oil Additive Exports

Exports from the U.S.

In 2021, after three years of decline, there was growth in overseas shipments of additives for lubricating oils, when their volume increased by 1.7% to X tons. Overall, exports, however, recorded a slight downturn. The pace of growth was the most pronounced in 2013 when exports increased by 9.3%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, lubricating oil additive exports expanded significantly to $X in 2021. In general, exports, however, saw a slight contraction. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Singapore (X tons), China (X tons) and France (X tons) were the main destinations of lubricating oil additive exports from the United States, with a combined 39% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +9.1%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Singapore ($X) and France ($X) constituted the largest markets for lubricating oil additive exported from the United States worldwide, together comprising 37% of total exports.

China, with a CAGR of +9.2%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lubricating oil additive export price amounted to $X per ton, picking up by 9.3% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Venezuela ($X per ton), while the average price for exports to Belgium ($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 Venezuela (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports into the U.S.

In 2021, supplies from abroad of additives for lubricating oils was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, lubricating oil additive imports surged to $X in 2021. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), Canada (X tons) and Mexico (X tons) were the main suppliers of lubricating oil additive imports to the United States, with a combined 63% share of total imports. These countries were followed by Italy, Japan, India, Singapore and Germany, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +26.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricating oil additive suppliers to the United States were Canada ($X), France ($X) and Mexico ($X), with a combined 59% share of total imports. Italy, Japan, Singapore, India and Germany lagged somewhat behind, together comprising a further 34%.

In terms of the main suppliers, India, with a CAGR of +18.4%, saw the highest growth rate of the value of imports, 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, growing by 3.6% against the previous year. In general, the import price, however, showed a slight slump. The most prominent rate of growth was recorded in 2019 an increase of 5.3%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 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 Singapore ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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