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Philippines - 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 the Philippines - 2023
Contents:
- Price for Petroleum Lubricating Oil and Grease in the Philippines (CIF) - 2022
- Price for Petroleum Lubricating Oil and Grease in the Philippines (FOB) - 2022
- Imports of Petroleum Lubricating Oil and Grease in the Philippines
- Exports of Petroleum Lubricating Oil and Grease in the Philippines
Price for Petroleum Lubricating Oil and Grease in the Philippines (CIF) - 2022
In 2022, the average import price for petroleum lubricating oil and grease amounted to $7,315 per ton, rising by 12% against the previous year. Over the period under review, the import price recorded a resilient expansion. The pace of growth was the most pronounced in 2020 when the average import price increased by 46%. As a result, import price attained the peak level of $7,576 per ton. From 2021 to 2022, the average import prices remained at a lower figure.
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 ($13,412 per ton), while the price for Spain ($679 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Petroleum Lubricating Oil and Grease in the Philippines (FOB) - 2022
In 2022, the average export price for petroleum lubricating oil and grease amounted to $1,212 per ton, falling by -71.8% against the previous year. Over the period under review, the export price saw a abrupt slump. The most prominent rate of growth was recorded in 2021 when the average export price increased by 94% against the previous year. As a result, the export price reached the peak level of $4,304 per ton, and then shrank dramatically in the following year.
Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($1,346 per ton), while the average price for exports to Vietnam stood at $1,065 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Petroleum Lubricating Oil and Grease in the Philippines
In 2022, approx. 4.1K tons of petroleum lubricating oil and grease were imported into the Philippines; declining by -10.3% against the year before. In general, imports continue to indicate a noticeable decline. The growth pace was the most rapid in 2021 when imports increased by 42%. As a result, imports attained the peak of 4.6K tons, and then dropped in the following year.
In value terms, petroleum lubricating oil and grease imports reached $30M in 2022. The total import value increased at an average annual rate of +8.7% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 22% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.
Import of Petroleum Lubricating Oil and Grease in the Philippines (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Japan | 11.5 | 16.6 | 19.1 | 17.2 | 14.4% |
United States | 3.0 | 2.0 | 2.5 | 3.2 | 2.2% |
Singapore | 1.9 | 1.2 | 2.8 | 2.3 | 6.6% |
Thailand | 1.1 | 1.1 | 1.3 | 1.7 | 15.6% |
Indonesia | 0.3 | 0.1 | 0.3 | 1.5 | 71.0% |
Germany | 1.3 | 0.6 | 0.9 | 0.7 | -18.6% |
China | 0.8 | 0.2 | 0.4 | 0.5 | -14.5% |
Malaysia | 0.4 | 0.2 | 0.5 | 0.4 | 0.0% |
Taiwan (Chinese) | 0.2 | 0.2 | 0.1 | 0.3 | 14.5% |
South Korea | 1.5 | 0.5 | 0.1 | 0.3 | -41.5% |
Spain | N/A | N/A | 0.4 | 0.1 | -75.0% |
Others | 1.5 | 1.9 | 1.7 | 2.1 | 11.9% |
Total | 23.5 | 24.6 | 30.1 | 30.2 | 8.7% |
Top Suppliers of Petroleum Lubricating Oil and Grease to the Philippines in 2022:
- Japan (1281.4 tons)
- United States (554.5 tons)
- Indonesia (493.4 tons)
- Singapore (487.8 tons)
- Thailand (432.1 tons)
- China (183.7 tons)
- Spain (148.7 tons)
- Germany (83.2 tons)
- Taiwan (Chinese) (81.9 tons)
- Malaysia (75.6 tons)
- South Korea (66.7 tons)
Exports of Petroleum Lubricating Oil and Grease in the Philippines
After three years of growth, shipments abroad of petroleum lubricating oil and grease decreased by -72.6% to 73 tons in 2022. Over the period under review, exports, however, recorded a significant increase. The growth pace was the most rapid in 2021 with an increase of 973% against the previous year. As a result, the exports reached the peak of 265 tons, and then fell remarkably in the following year.
In value terms, petroleum lubricating oil and grease exports fell remarkably to $88K in 2022. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 1,984% against the previous year. As a result, the exports attained the peak of $1.1M, and then dropped remarkably in the following year.
Export of Petroleum Lubricating Oil and Grease in the Philippines (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Vietnam | N/A | 13.6 | 20.4 | 51.7 | 95.0% |
Taiwan (Chinese) | N/A | N/A | 30.0 | 30.3 | 1.0% |
China | 7.3 | N/A | N/A | N/A | 0% |
Indonesia | N/A | N/A | 33.6 | N/A | 0% |
Bangladesh | N/A | N/A | 11.0 | N/A | 0% |
Others | 11.4 | 41.2 | 1,046 | 6.1 | -18.8% |
Total | 18.8 | 54.7 | 1,141 | 88.0 | 67.3% |
Top Export Markets for Petroleum Lubricating Oil and Grease from the Philippines in 2022:
- Vietnam (48.5 tons)
- Taiwan (Chinese) (22.5 tons)
This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in the Philippines. 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:
- Philippines
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in the Philippines
- 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
-
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 the Philippines.
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 the Philippines.
This report provides an in-depth analysis of the global market for petroleum lubricating oil and grease.
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