Australia - Petroleum Lubricating Oil And Grease - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPrice for Petroleum Lubricating Oil and Grease in Australia - 2023
Contents:
- Price for Petroleum Lubricating Oil and Grease in Australia (CIF) - 2023
- Price for Petroleum Lubricating Oil and Grease in Australia (FOB) - 2022
- Imports of Petroleum Lubricating Oil and Grease in Australia
- Exports of Petroleum Lubricating Oil and Grease in Australia
Price for Petroleum Lubricating Oil and Grease in Australia (CIF) - 2023
The average import price for petroleum lubricating oil and grease stood at $6,008 per ton in August 2023, rising by 1.8% against the previous month. Overall, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 when the average import price increased by 65% month-to-month. The import price peaked at $7,464 per ton in June 2023; however, from July 2023 to August 2023, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($14,091 per ton), while the price for Singapore ($2,172 per ton) was amongst the lowest.
From August 2022 to August 2023, the most notable rate of growth in terms of prices was attained by Germany (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Petroleum Lubricating Oil and Grease in Australia (FOB) - 2022
In 2022, the average export price for petroleum lubricating oil and grease amounted to $3,364 per ton, falling by -11.6% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, petroleum lubricating oil and grease export price decreased by -19.7% against 2018 indices. The pace of growth was the most pronounced in 2017 an increase of 36%. Over the period under review, the average export prices hit record highs at $4,190 per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Papua New Guinea ($8,743 per ton), while the average price for exports to Bangladesh ($2,024 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 Papua New Guinea (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Petroleum Lubricating Oil and Grease in Australia
In 2022, petroleum lubricating oil and grease imports into Australia amounted to 8.2K tons, picking up by 9.5% compared with the year before. The total import volume increased at an average annual rate of +10.9% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 18%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
In value terms, petroleum lubricating oil and grease imports skyrocketed to $44M in 2022. In general, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +17.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +62.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.
Import of Petroleum Lubricating Oil and Grease in Australia (Million USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United States | 8.2 | 9.3 | 8.1 | 12.8 | 16.0% |
Germany | 6.2 | 6.7 | 7.0 | 9.8 | 16.5% |
Singapore | 3.7 | 3.4 | 5.3 | 5.2 | 12.0% |
France | 1.3 | 1.6 | 2.4 | 2.4 | 22.7% |
Switzerland | 0.3 | 0.5 | 0.7 | 2.0 | 88.2% |
China | 1.0 | 0.9 | 1.6 | 1.8 | 21.6% |
Belgium | 1.0 | 0.6 | 0.4 | 1.2 | 6.3% |
United Kingdom | 1.3 | 1.0 | 1.4 | 1.1 | -5.4% |
Canada | 0.5 | 0.4 | 0.5 | 0.8 | 17.0% |
India | 0.4 | 0.4 | 0.4 | 0.8 | 26.0% |
Netherlands | 0.2 | 0.2 | 0.8 | 0.7 | 51.8% |
Malaysia | N/A | N/A | 0.3 | 0.6 | 100.0% |
South Korea | 0.1 | 0.2 | 1.0 | 0.5 | 71.0% |
Others | 2.7 | 3.1 | 3.4 | 4.1 | 14.9% |
Total | 26.9 | 28.4 | 33.2 | 43.8 | 17.6% |
Top Suppliers of Petroleum Lubricating Oil and Grease to Australia in 2022:
- Singapore (2090.3 tons)
- Germany (1599.3 tons)
- United States (1491.2 tons)
- China (434.6 tons)
- India (313.6 tons)
- France (285.6 tons)
- Switzerland (275.4 tons)
- Belgium (265.8 tons)
- Canada (237.1 tons)
- South Korea (180.2 tons)
- Malaysia (154.4 tons)
- Netherlands (129.4 tons)
- United Kingdom (115.5 tons)
Exports of Petroleum Lubricating Oil and Grease in Australia
In 2022, approx. 5.7K tons of petroleum lubricating oil and grease were exported from Australia; growing by 141% against the previous year. In general, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, petroleum lubricating oil and grease exports skyrocketed to $19M in 2022. Overall, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.
Export of Petroleum Lubricating Oil and Grease in Australia (Thousand USD) | |||||
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COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
New Zealand | 3,851 | 3,197 | 3,836 | 13,039 | 50.2% |
South Korea | 56.6 | 23.0 | 553 | 1,101 | 168.9% |
China | 690 | 881 | 554 | 693 | 0.1% |
Bangladesh | 870 | 798 | 925 | 623 | -10.5% |
Papua New Guinea | 666 | 729 | 339 | 541 | -6.7% |
Singapore | 230 | 160 | 280 | 426 | 22.8% |
India | 99.5 | 37.4 | 88.4 | 360 | 53.5% |
Malaysia | 308 | 221 | 226 | 352 | 4.6% |
Indonesia | 365 | 260 | 501 | 292 | -7.2% |
Japan | 214 | 197 | 269 | 182 | -5.3% |
Thailand | 388 | 338 | 140 | 61.7 | -45.8% |
Others | 1,333 | 1,079 | 1,231 | 1,414 | 2.0% |
Total | 9,071 | 7,919 | 8,942 | 19,086 | 28.1% |
Top Export Markets for Petroleum Lubricating Oil and Grease from Australia in 2022:
- New Zealand (4014.4 tons)
- Bangladesh (307.9 tons)
- South Korea (236.1 tons)
- China (185.6 tons)
- Malaysia (145.3 tons)
- Singapore (111.7 tons)
- Japan (87.8 tons)
- India (85.7 tons)
- Indonesia (62.0 tons)
- Papua New Guinea (61.9 tons)
- Thailand (13.9 tons)
This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Australia. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 20594155 - Lubricating preparations containing as basic constituents < .70% by weight of petroleum oils or of oils obtained from bituminous minerals for textiles, leather, hides, furskins and other materials
- Prodcom 20594157 - Lubricating preparations obtained from petroleum or bituminous minerals, excluding the ones used for the treatment of textiles, leather, hides, furskins and other materials
Country coverage:
- Australia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Australia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Australia.
This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Australia.
This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
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