Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Singapore - 2023
Contents:
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Singapore (FOB) - 2022
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Singapore (CIF) - 2022
- Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Singapore
- Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Singapore
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Singapore (FOB) - 2022
In 2022, the average export price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses amounted to $3,693 per ton, surging by 21% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($4,375 per ton), while the average price for exports to Belgium ($2,805 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+1.6%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Singapore (CIF) - 2022
The average import price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses stood at $3,545 per ton in 2022, growing by 23% against the previous year. In general, the import price showed a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($4,001 per ton) and India ($3,997 per ton), while the price for Mexico ($2,862 per ton) and France ($3,114 per ton) were amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Singapore
In 2022, the amount of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses exported from Singapore reduced to 576K tons, dropping by -6.8% against 2021 figures. The total export volume increased at an average annual rate of +1.7% from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 17%. As a result, the exports attained the peak of 618K tons, and then reduced in the following year.
In value terms, exports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses expanded markedly to $2.1B in 2022. The total export value increased at an average annual rate of +7.1% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when exports increased by 18% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.
| Export of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 548 | 518 | 578 | 455 | -6.0% |
| South Korea | 137 | 133 | 169 | 251 | 22.4% |
| Japan | 179 | 179 | 200 | 230 | 8.7% |
| Indonesia | 152 | 121 | 159 | 213 | 11.9% |
| Thailand | 144 | 132 | 167 | 189 | 9.5% |
| Australia | 65.3 | 70.1 | 69.8 | 114 | 20.4% |
| India | 85.9 | 68.6 | 86.7 | 110 | 8.6% |
| Malaysia | 83.4 | 75.5 | 76.5 | 91.8 | 3.3% |
| Vietnam | 72.9 | 57.8 | 60.3 | 82.8 | 4.3% |
| United Arab Emirates | 74.1 | 53.0 | 65.5 | 81.8 | 3.4% |
| Taiwan (Chinese) | 34.3 | 36.5 | 42.0 | 53.3 | 15.8% |
| Pakistan | 31.3 | 28.3 | 35.0 | 39.5 | 8.1% |
| Belgium | 10.4 | 13.4 | 20.9 | 32.1 | 45.6% |
| Others | 113 | 115 | 152 | 186 | 18.1% |
| Total | 1,731 | 1,601 | 1,883 | 2,129 | 7.1% |
Top Export Markets for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals from Singapore in 2022:
- China (121.3K tons)
- Japan (65.0K tons)
- South Korea (61.1K tons)
- Indonesia (60.9K tons)
- Thailand (46.5K tons)
- India (30.5K tons)
- Australia (26.0K tons)
- Malaysia (25.0K tons)
- United Arab Emirates (24.9K tons)
- Vietnam (23.6K tons)
- Taiwan (Chinese) (14.2K tons)
- Pakistan (12.6K tons)
- Belgium (11.4K tons)
Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Singapore
In 2022, the amount of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses imported into Singapore shrank to 196K tons, waning by -6.6% compared with 2021. The total import volume increased at an average annual rate of +2.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 20%. As a result, imports attained the peak of 210K tons, and then contracted in the following year.
In value terms, imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses rose markedly to $696M in 2022. The total import value increased at an average annual rate of +7.4% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the near future.
| Import of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Singapore (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 239 | 223 | 238 | 261 | 3.0% |
| China | 113 | 93.8 | 105 | 160 | 12.3% |
| France | 116 | 121 | 156 | 144 | 7.5% |
| Italy | 23.0 | 22.3 | 17.5 | 30.5 | 9.9% |
| India | 13.2 | 15.8 | 24.2 | 26.3 | 25.8% |
| Mexico | 7.4 | 7.9 | 12.9 | 18.4 | 35.5% |
| Belarus | 11.1 | 10.7 | 12.9 | 5.6 | -20.4% |
| Others | 38.9 | 29.6 | 41.1 | 50.2 | 8.9% |
| Total | 561 | 525 | 607 | 696 | 7.5% |
Top Suppliers of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals to Singapore in 2022:
- United States (65.1K tons)
- France (46.2K tons)
- China (45.9K tons)
- Italy (9.7K tons)
- India (6.6K tons)
- Mexico (6.4K tons)
- Belarus (1.9K tons)
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