Ukraine: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Ukraine

The Ukrainian lubricating oil additive market rose sharply to $X in 2021, surging by 8.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a prominent increase. Lubricating oil additive consumption peaked in 2021 and is likely to see steady growth in years to come.

Lubricating Oil Additive Exports

Exports from Ukraine

Lubricating oil additive exports from Ukraine fell to X tons in 2021, waning by -11.3% compared with 2020 figures. In general, total exports indicated a slight increase from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -13.6% against 2018 indices. The growth pace was the most rapid in 2016 with an increase of 49% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, lubricating oil additive exports totaled $X in 2021. Overall, exports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 65%. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for lubricating oil additive exports from Ukraine, with a 36% share of total exports. Moreover, lubricating oil additive exports to Russia exceeded the volume sent to the second major destination, Belarus (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Russia totaled -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+5.9% per year) and Germany (+41.5% per year).

In value terms, Russia ($X) emerged as the key foreign market for additives for lubricating oils exports from Ukraine, comprising 37% of total exports. The second position in the ranking was taken by Belarus ($X), with a 13% share of total exports. It was followed by Germany, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Russia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (+0.7% per year) and Germany (+35.9% per year).

Export Prices by Country

In 2021, the average lubricating oil additive export price amounted to $X per ton, rising by 14% against the previous year. Overall, the export price, however, saw a mild decrease. Over the period under review, the average export prices hit record highs 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 overseas markets. In 2021, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Yemen ($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 (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports into Ukraine

In 2021, approx. X tons of additives for lubricating oils were imported into Ukraine; declining by -2.8% against the previous year. Overall, imports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 41%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, lubricating oil additive imports rose significantly to $X in 2021. In general, imports, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2016 when imports increased by 25%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest lubricating oil additive supplier to Ukraine, accounting for a 30% share of total imports. Moreover, lubricating oil additive imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), twofold. Belgium (X tons) ranked third in terms of total imports with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +17.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+17.2% per year) and Belgium (+15.4% per year).

In value terms, the largest lubricating oil additive suppliers to Ukraine were China ($X), Italy ($X) and Germany ($X), together comprising 50% of total imports. Belgium, the Netherlands, France, Belarus, Russia and the United States lagged somewhat behind, together comprising a further 44%.

The Netherlands, with a CAGR of +106.8%, recorded the highest growth rate of 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, picking up by 13% against the previous year. Overall, the import price, however, continues to indicate a slight decline. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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