Report Update: May 9, 2024

Colombia - Additives For Lubricating Oils - Market Analysis, Forecast, Size, Trends And Insights

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Lubricating Oil Additive Price in Colombia - 2022

Lubricating Oil Additive Price in Colombia (CIF) - 2022

The average lubricating oil additive import price stood at $3,749 per ton in February 2022, shrinking by -2.6% against the previous month. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2021 when the average import price increased by 17% m-o-m. Over the period under review, average import prices hit record highs at $3,957 per ton in October 2021; however, from November 2021 to February 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In February 2022, the country with the highest price was Brazil ($5,560 per ton), while the price for Italy ($3,636 per ton) was amongst the lowest.

From February 2021 to February 2022, the most notable rate of growth in terms of prices was attained by Brazil (+2.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Lubricating Oil Additive Price in Colombia (FOB) - 2022

The average lubricating oil additive export price stood at $5,206 per ton in 2022, with an increase of 71% against the previous year. Over the period under review, the export price recorded a noticeable increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Venezuela ($9,850 per ton), while the average price for exports to Honduras ($996 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 Honduras (+15.6%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports in Colombia

In 2022, approx. 8.8K tons of additives for lubricating oils were imported into Colombia; shrinking by -2.7% on the year before. In general, imports showed a perceptible decrease. The pace of growth appeared the most rapid in 2021 when imports increased by 29%.

In value terms, lubricating oil additive imports dropped slightly to $42M in 2022. Overall, imports recorded a noticeable setback. The growth pace was the most rapid in 2021 when imports increased by 25% against the previous year.

Import of Lubricating Oil Additive in Colombia (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
United States	39.7	30.7	34.8	26.6	-12.5%
Brazil	0.6	0.5	0.8	0.6	0.0%
United Kingdom	0.5	0.6	0.7	0.5	0.0%
Netherlands	N/A	N/A	0.1	0.4	300.0%
Belgium	0.5	0.4	0.7	0.3	-15.7%
Others	3.5	2.6	6.2	13.5	56.8%
Total	44.8	34.7	43.4	41.8	-2.3%

Top Suppliers of Lubricating Oil Additive to Colombia in 2022:

United States (5.4K tons)
Brazil (0.1K tons)
Netherlands (0.1K tons)
United Kingdom (0.1K tons)
Belgium (0.1K tons)

Lubricating Oil Additive Exports in Colombia

In 2022, approx. 66 tons of additives for lubricating oils were exported from Colombia; dropping by -77% compared with the previous year's figure. Overall, exports showed a drastic downturn. The growth pace was the most rapid in 2021 with an increase of 799%. As a result, the exports attained the peak of 288 tons, and then contracted sharply in the following year.

In value terms, lubricating oil additive exports dropped markedly to $345K in 2022. Over the period under review, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2021 with an increase of 441% against the previous year. As a result, the exports attained the peak of $878K, and then contracted notably in the following year.

Export of Lubricating Oil Additive in Colombia (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Brazil	N/A	0.3	266	98.6	1712.9%
Venezuela	89.8	30.2	170	61.5	-11.9%
Ecuador	126	34.0	92.3	44.1	-29.5%
Trinidad and Tobago	120	47.5	102	41.0	-30.1%
Honduras	13.8	8.1	70.3	25.4	22.6%
Guatemala	12.0	6.6	36.7	24.7	27.2%
Peru	62.7	6.7	37.2	13.6	-39.9%
Dominican Republic	39.6	16.8	36.2	12.7	-31.6%
Others	21.3	11.9	67.8	23.7	3.6%
Total	486	162	878	345	-10.8%

Top Export Markets for Lubricating Oil Additive from Colombia in 2022:

Honduras (25.5 tons)
Brazil (11.4 tons)
Ecuador (7.4 tons)
Venezuela (6.2 tons)
Trinidad and Tobago (5.9 tons)
Guatemala (3.8 tons)
Peru (2.0 tons)
Dominican Republic (1.7 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the lubricating oil additive market in Colombia. 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 20594270 - Additives for lubricating oils

Country coverage:

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Colombia
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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023