United Arab Emirates: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in the United Arab Emirates

The lubricating oil additive market in the United Arab Emirates soared to $X in 2021, growing by 32% 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, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +106.1% against 2017 indices. Over the period under review, the market reached the peak level in 2021 and is likely to see steady growth in years to come.

Lubricating Oil Additive Exports

Exports from the United Arab Emirates

Lubricating oil additive exports from the United Arab Emirates reduced to X tons in 2021, falling by -12.1% compared with the year before. Overall, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2015 when exports increased by 187%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, lubricating oil additive exports shrank rapidly to $X in 2021. In general, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2015 when exports increased by 240% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for lubricating oil additive exports from the United Arab Emirates, with a 47% share of total exports. Moreover, lubricating oil additive exports to Saudi Arabia exceeded the volume sent to the second major destination, Nigeria (X tons), threefold. Pakistan (X tons) ranked third in terms of total exports with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia amounted to +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+60.0% per year) and Pakistan (+10.6% per year).

In value terms, the largest markets for lubricating oil additive exported from the United Arab Emirates were Saudi Arabia ($X), Nigeria ($X) and Oman ($X), together accounting for 60% of total exports. These countries were followed by Canada, Pakistan, Jordan, India, South Africa, Rwanda, Tunisia, Togo and Senegal, which together accounted for a further 29%.

In terms of the main countries of destination, Togo, with a CAGR of +391.5%, recorded the highest rates of growth with regard to 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 2021, the average lubricating oil additive export price amounted to $X per ton, declining by -21.4% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 an increase of 20% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Togo ($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 Rwanda (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports into the United Arab Emirates

In 2021, lubricating oil additive imports into the United Arab Emirates rose markedly to X tons, with an increase of 11% on 2020 figures. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +54.4% against 2015 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 24% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

In value terms, lubricating oil additive imports soared to $X in 2021. The total import value increased at an average annual rate of +5.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Singapore (X tons), France (X tons) and China (X tons) were the main suppliers of lubricating oil additive imports to the United Arab Emirates, with a combined 37% share of total imports. These countries were followed by Belgium, Italy, the United States, India, Germany and the Netherlands, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +73.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), France ($X) and China ($X) were the largest lubricating oil additive suppliers to the United Arab Emirates, together comprising 35% of total imports. These countries were followed by Belgium, Italy, the United States, India, Germany and the Netherlands, which together accounted for a further 20%.

Belgium, with a CAGR of +78.2%, saw 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, with an increase of 18% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a 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 Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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