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An overview of China's lubricant oil additives import and export
As one of the largest lubricating oil consumers in the world, China has a very huge demand on the lubricant oil additives. In general, China's lubricant oil additives are dependent on imports. And United States is the major supplier of lubricant oil additives to China, accounting for 66% of China’s import.
From 2013 to 2017, China's lubricant oil additives imports experienced ups and downs. During these years, imports of lubricant oil additives peaked at 385,700 tons in 2014, and bottomed at 262,600 tons in 2015. After 2015, lubricant oil additives import has been rising steadily. Though the import volume reached 322,200 tons in 2017, it showed a 16.5% decrease from 2014.
On the import value side, China's lubricant oil additives import value showed a decrease first and then an increase. It bottomed at 905.7 million dollars in 2015, has and then showed a steady rise from 2015 to 2017. The lubricant oil additives import value has reached 1008.6 million dollars in 2017, increasing by 11.36% from 2015.
In the terms of export, China's lubricant oil additives are middle and low end products in the market, so they are usually exported to developing countries. Developing countries in Latin America and Asia accounted for a large proportion with the share of 42% and 36% respectively.