Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Australia - 2024
Contents:
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Australia (CIF) - 2024
- Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Australia (FOB) - 2024
- Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Australia
- Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Australia
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Australia (CIF) - 2024
In January 2024, the average import price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses amounted to $4,240 per ton, declining by -11.1% against the previous month. Over the period under review, the import price continues to indicate a slight curtailment. The pace of growth appeared the most rapid in December 2023 an increase of 15% m-o-m. The import price peaked at $5,240 per ton in February 2023; however, from March 2023 to January 2024, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was France ($5,662 per ton), while the price for South Korea ($3,406 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by Italy (+0.8%), while the prices for the other major suppliers experienced a decline.
Price for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Australia (FOB) - 2024
In January 2024, the average export price for lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses amounted to $7,472 per ton, surging by 72% against the previous month. In general, the export price saw a temperate increase. The growth pace was the most rapid in November 2023 when the average export price increased by 119% against the previous month. Over the period under review, the average export prices attained the peak figure in January 2024.
Prices varied noticeably by the country of destination: the country with the highest price was New Zealand ($10,578 per ton), while the average price for exports to Papua New Guinea ($3,042 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+27.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Australia
Imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses into Australia soared to 45K tons in 2022, increasing by 24% against 2021 figures. The total import volume increased at an average annual rate of +5.9% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.
In value terms, imports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses surged to $206M in 2022. Over the period under review, total imports indicated a buoyant expansion from 2019 to 2022: its value increased at an average annual rate of +11.3% over the last three years. The trend pattern, however, 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.
| Import of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 68.2 | 69.7 | 71.3 | 119 | 20.4% |
| United States | 47.1 | 56.8 | 38.8 | 45.7 | -1.0% |
| France | 13.4 | 2.9 | 9.8 | 9.9 | -9.6% |
| China | 2.7 | 4.8 | 3.2 | 8.6 | 47.1% |
| Belgium | 5.1 | 6.2 | 6.6 | 6.1 | 6.1% |
| South Korea | 4.2 | 5.3 | 5.1 | 6.1 | 13.2% |
| Others | 8.7 | 7.4 | 8.7 | 10.2 | 5.4% |
| Total | 149 | 153 | 144 | 206 | 11.4% |
Top Suppliers of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals to Australia in 2022:
- Singapore (27.7K tons)
- United States (9.5K tons)
- China (2.0K tons)
- South Korea (1.8K tons)
- France (1.5K tons)
- Belgium (1.2K tons)
Exports of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Australia
In 2022, the amount of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses exported from Australia declined to 593 tons, with a decrease of -5.8% on the year before. Over the period under review, total exports indicated prominent growth from 2019 to 2022: its volume increased at an average annual rate of +5.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +64.5% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 75% against the previous year. As a result, the exports reached the peak of 629 tons, and then shrank in the following year.
In value terms, exports of lubricating oil additives; containing petroleum oils or oils obtained from bituminous mineralses dropped dramatically to $2.4M in 2022. Overall, exports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2021 when exports increased by 139% against the previous year. As a result, the exports reached the peak of $3M, and then contracted rapidly in the following year.
| Export of Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals in Australia (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 414 | 385 | 1,951 | 855 | 27.3% |
| Thailand | 47.1 | 12.1 | N/A | 345 | 94.2% |
| New Zealand | 123 | 154 | 238 | 289 | 32.9% |
| France | N/A | 43.4 | N/A | 271 | 149.9% |
| China | 97.0 | 84.1 | 98.6 | 215 | 30.4% |
| Papua New Guinea | 106 | 120 | 78.1 | 114 | 2.5% |
| Taiwan (Chinese) | N/A | N/A | N/A | 100 | 0% |
| Fiji | 72.9 | 46.9 | 37.1 | 86.1 | 5.7% |
| Vietnam | 139 | 106 | 196 | 28.1 | -41.3% |
| New Caledonia | 55.3 | 30.3 | 37.5 | 1.6 | -69.3% |
| Indonesia | 175 | 16.4 | 34.8 | 1.1 | -81.5% |
| Belgium | 222 | N/A | N/A | N/A | 0% |
| Cambodia | 55.4 | 56.1 | N/A | N/A | 1.3% |
| Others | 151 | 202 | 332 | 104 | -11.7% |
| Total | 1,659 | 1,256 | 3,003 | 2,410 | 13.3% |
Top Export Markets for Lubricating Oil Additives; Containing Petroleum Oils or Oils Obtained from Bituminous Minerals from Australia in 2022:
- Singapore (177.8 tons)
- China (82.9 tons)
- France (79.9 tons)
- Thailand (70.3 tons)
- New Zealand (58.5 tons)
- Taiwan (Chinese) (30.0 tons)
- Papua New Guinea (26.2 tons)
- Fiji (20.0 tons)
- Vietnam (13.7 tons)
- New Caledonia (0.5 tons)
- Indonesia (0.2 tons)
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