Belarus: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Belarus

The Belarusian lubricating oil additive market skyrocketed to $X in 2022, jumping by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Lubricating Oil Additive Production in Belarus

In value terms, lubricating oil additive production expanded to $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Lubricating Oil Additive Exports

Exports from Belarus

After five years of growth, shipments abroad of additives for lubricating oils decreased by X% to X tons in 2021. In general, exports, however, posted a prominent increase. The growth pace was the most rapid in 2019 when exports increased by X%. The exports peaked at X tons in 2020, and then contracted in the following year.

In value terms, lubricating oil additive exports reached $X in 2021. Over the period under review, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

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

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and the Netherlands (X% per year).

In value terms, the largest markets for lubricating oil additive exported from Belarus were Russia ($X), Singapore ($X) and the Netherlands ($X), together comprising X% of total exports. The United Arab Emirates, Germany, Kazakhstan and South Korea lagged somewhat behind, together accounting for a further X%.

Germany, with a CAGR of X%, 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

The average lubricating oil additive export price stood at $X per ton in 2021, surging by X% against the previous year. Overall, the export price, however, showed a perceptible decrease. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Russia ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced a decline.

Lubricating Oil Additive Imports

Imports into Belarus

After five years of growth, supplies from abroad of additives for lubricating oils decreased by X% to X tons in 2021. In general, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2019 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2020, and then reduced slightly in the following year.

In value terms, lubricating oil additive imports stood at $X in 2021. Overall, imports, however, continue to indicate buoyant growth. The pace of growth was the most pronounced in 2019 when imports increased by X%. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Russia (X tons) constituted the largest lubricating oil additive supplier to Belarus, with a X% share of total imports. Moreover, lubricating oil additive imports from Russia exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. The third position in this ranking was taken by Belgium (X tons), with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Russia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Belgium (X% per year).

In value terms, Russia ($X) constituted the largest supplier of additives for lubricating oils to Belarus, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Russia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Belgium (X% per year).

Import Prices by Country

The average lubricating oil additive import price stood at $X per ton in 2021, increasing by X% against the previous year. Overall, the import price, however, showed a pronounced downturn. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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 the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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