U.S.: Lubricant Additives Market 2024

Lubricant Additives Market Size in the U.S.

The U.S. lubricant additives market skyrocketed to $X in 2021, rising by 38% against the previous year. Over the period under review, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.4% 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 +90.0% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Lubricant Additives Production in the U.S.

In value terms, lubricant additives production expanded to $X in 2021. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 12%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Lubricant Additives Exports

Exports from the U.S.

In 2021, the amount of prepared additives for mineral oils exported from the United States surged to X tons, increasing by 34% on 2020. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives exports surged to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. Over the period under review, the exports reached the maximum at $X in 2013; afterwards, it flattened through to 2021.

Exports by Country

Mexico (X tons) was the main destination for lubricant additives exports from the United States, accounting for a 29% share of total exports. Moreover, lubricant additives exports to Mexico exceeded the volume sent to the second major destination, France (X tons), threefold. China (X tons) ranked third in terms of total exports with an 8.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Mexico amounted to +26.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+9.5% per year) and China (+7.9% per year).

In value terms, Mexico ($X) remains the key foreign market for prepared additives for mineral oils exports from the United States, comprising 26% of total exports. The second position in the ranking was taken by Canada ($X), with a 10% share of total exports. It was followed by China, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value to Mexico stood at +21.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (-2.8% per year) and China (+6.2% per year).

Export Prices by Country

In 2021, the average lubricant additives export price amounted to $X per ton, falling by -6% against the previous year. Over the period under review, the export price continues to indicate a pronounced slump. The growth pace was the most rapid in 2018 when the average export price increased by 7.3% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Brazil ($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 Singapore (+1.0%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into the U.S.

In 2021, lubricant additives imports into the United States soared to X tons, rising by 16% against the year before. The total import volume increased at an average annual rate of +2.4% 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, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives imports surged to $X in 2021. In general, imports showed a relatively flat trend pattern. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

France (X tons), Canada (X tons) and Mexico (X tons) were the main suppliers of lubricant additives imports to the United States, together comprising 52% of total imports. Germany, Italy, the UK and Japan lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +4.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), France ($X) and Mexico ($X) were the largest lubricant additives suppliers to the United States, with a combined 54% share of total imports.

Mexico, with a CAGR of +4.4%, recorded 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 lubricant additives import price amounted to $X per ton, growing by 3.1% against the previous year. Over the period under review, the import price, however, saw a mild contraction. The most prominent rate of growth was recorded in 2014 an increase of 9.2% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (-0.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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