India: Lubricant Additives Market 2024

Lubricant Additives Market Size in India

The Indian lubricant additives market totaled $X in 2022, remaining constant against the previous year. In general, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Lubricant additives consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Lubricant Additives Production in India

In value terms, lubricant additives production stood at $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of X%. Lubricant additives production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Lubricant Additives Exports

Exports from India

In 2022, overseas shipments of prepared additives for mineral oils were finally on the rise to reach X tons after two years of decline. In general, exports posted a resilient expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, lubricant additives exports soared to $X in 2022. Overall, exports enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X tons), the United States (X tons) and Singapore (X tons) were the main destinations of lubricant additives exports from India, together comprising X% of total exports. China, France, Russia, Saudi Arabia, South Korea, Nigeria, Kuwait, Iraq, Malaysia and Belgium lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricant additives exported from India were the United Arab Emirates ($X), the United States ($X) and Singapore ($X), with a combined X% share of total exports. Russia, France, China, Nigeria, Belgium, Saudi Arabia, Malaysia, South Korea, Kuwait and Iraq lagged somewhat behind, together accounting for a further X%.

Russia, with a CAGR of X%, recorded the highest growth rate of the value of exports, among 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

In 2022, the average lubricant additives export price amounted to $X per ton, jumping by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in years to come.

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 Russia ($X per ton), while the average price for exports to Iraq ($X 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 Russia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into India

Lubricant additives imports into India skyrocketed to X tons in 2022, picking up by X% compared with 2021. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, lubricant additives imports soared to $X in 2022. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Singapore (X tons) constituted the largest lubricant additives supplier to India, with a X% share of total imports. Moreover, lubricant additives imports from Singapore exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Belgium (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Singapore stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Belgium (X% per year).

In value terms, Singapore ($X), the United States ($X) and Belgium ($X) were the largest lubricant additives suppliers to India, together comprising X% of total imports. China, France, Japan, Germany, South Korea, the Netherlands and Italy lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the Netherlands, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lubricant additives import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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