Lubricating Oils Export of the Usa: The Trade Analysis of 2024

Lubricating oils, the refined petroleum products designed to reduce friction and heat between moving surfaces, have been preferred by topmost trading authorities worldwide due to their divergent functions. The ongoing universal industrial demand driven by the dependency of modern economies on lubricants for smooth machine running, along with the dependence on crude oil refining capacity, has created a global trade interdependence, maintaining the overall revenue rate. The global supply chains and branding, along with transportation and energy infrastructure growth, have benefited the cross-border trade. The USA, in the northern hemisphere, bordered by Canada and Mexico in the north and south directions, has established itself as a leading exporter of lubricating oil in the international trade market due to its large crude oil refining capacity and advanced refining technology.

The strong domestic base oil production and the capacity of the manufacturing units to produce a range of lubricant grades have resulted in an export trade value of lubricating oil from the USA worth 520 million US dollars in 2024. The integration of the USA with the global supply chains and the existing trade linkages has promoted the flexibility of the smooth transport of lubricating oils towards the importers. Subscribe to Import Globals, the leading USA Import Data provider, to stay updated with the latest information regarding the USA lubricating oil trade via the USA trade data.

GOVERNMENT INITIATIVES SUPPORTING THE EXPORT OF LUBRICATING OILS IN THE USA IN 2024

The Global Diversity Export Initiative by the International Trade Administration has lowered the barriers for a reliable entry into the export destinations. The Presidential Trade and Investment Mission to the Philippines Trip to Thailand was initiated by the authorities to improve the bilateral conditions for the USA exporters. 

The USA Trade and Development Agency program supporting U.S. export-oriented infrastructure has promoted the lubricant producers' participation in the trade fairs while boosting the export volumes. The Supply Chain Strengthening and Manufacturing Investment Incentives have introduced high-quality manufacturing capability to improve the competitiveness in the trade market while attracting more global investors. 

THE LEADING VARIANTS OF LUBRICATING OILS EXPORTED FROM THE USA IN 2024

The access to multiple oceanic coastlines and the well-developed petrochemical industrial base has led to diversity in the global output. According to the USA Export Data, the top 10 leading variants of lubricating oils exported from the nation in 2024 are,

  1. Engine oil – The annual valuation of Engine oil exported from the USA in 2024 – 92 million US dollars
  2. Gear oil – The annual valuation of Gear oil exported from the USA in 2024 – 65 million US dollars
  3. Hydraulic oil – The annual valuation of Hydraulic oil exported from the USA in 2024 – 58 million US dollars
  4. Turbine oil– The annual valuation of Turbine oil exported from the USA in 2024 – 42 million US dollars
  5. Compressor oil – The annual valuation of Compressor oil exported from the USA in 2024 – 38 million US dollars
  6. Two‑stroke engine oil– The annual valuation of Two‑stroke engine oil exported from the USA in 2024 – 25 million US dollars
  7. Mineral oil (base lubricating oil) – The annual valuation of Mineral oil (base lubricating oil) exported from the USA in 2024 – 22 million US dollars
  8. Synthetic oil (base lubricating oil) – The annual valuation of Synthetic oil (base lubricating oil) exported from the USA in 2024 – 18 million US dollars
  9. Semi‑synthetic oil– The annual valuation of Semi‑synthetic oil exported from the USA in 2024 – 16 million US dollars
  10. Bio‑based lubricating oil– The annual valuation of Bio‑based lubricating oil exported from the USA in 2024 – 12 million US dollars

THE TOP 10 EXPORT TRADE PARTNERS OF THE USA IN 2024

The good storage and shipping infrastructure, along with the high-performance additives of the mineral fuel reserves, has built stronger relationships with the topmost importing nations. According to the USA Customs Data, the top 10 export trade partners of the nation for lubricating oils exported in 2024 are,

  • Canada – The total valuation of lubricating oils exported from the USA to Canada in 2024 – 86 million US dollars

Top 5 variants of lubricating oils exported

  1. Compressor screw oil
  2. Gearbox lubricant oil for wind farms
  3. Rail gear oil
  4. Industrial gear oil
  5. Rail hydraulic oil
  • Mexico – The total valuation of lubricating oils exported from the USA to Mexico in 2024 – 68 million US dollars

Top 5 variants of lubricating oils exported

  1. Tractor engine oil
  2. Marine cylinder oil
  3. Offshore drilling equipment oil
  4. Wind‑turbine gearbox oil
  5. Turbine bearing oil
  • China – The total valuation of lubricating oils exported from the USA to China in 2024 – 54 million US dollars

Top 5 variants of lubricating oils exported

  1. Low SAPS engine oil (low‑ash)
  2. High‑mileage engine oil
  3. Diesel engine oil
  4. Petrol/gasoline engine oil
  5. Motorcycle engine oil
  • Netherlands – The total valuation of lubricating oils exported from the USA to the Netherlands in 2024 – 48 million US dollars

Top 5 variants of lubricating oils exported

  1. Ester‑based synthetic lubricant oil
  2. Polyalphaolefin (PAO) base oil
  3. Polyalkylene glycol (PAG) base oil
  4. Alkylated naphthalene base oil
  5. Vegetable-oil-based lubricant
  • United Kingdom – The total valuation of lubricating oils exported from the USA to the United Kingdom in 2024 – 34 million US dollars

Top 5 variants of lubricating oils exported

  1. White oil (food grade)
  2. Food‑machinery lubricant oil
  3. Electrical insulating oil (lubricating)
  4. Fire‑resistant hydraulic oil
  5. Water‑glycol hydraulic oil
  • Japan – The total valuation of lubricating oils exported from the USA to Japan in 2024 – 28 million US dollars

Top 5 variants of lubricating oils exported

  1. Slide‑way oil
  2. Refrigeration compressor oil
  3. Heat‑transfer oil (lubricating)
  4. Compressor bearing oil
  5. Shell turbine oil
  • Germany – The total valuation of lubricating oils exported from the USA to Germany in 2024 – 22 million US dollars

Top 5 variants of lubricating oils exported

  1. Railroad locomotive oil
  2. Mobile equipment oil (off‑road heavy duty)
  3. Industrial circulating oil
  4. Metalworking oil
  5. Spindle oil
  • South Korea– The total valuation of lubricating oils exported from the USA to South Korea in 2024 – 20 million US dollars

Top 5 variants of lubricating oils exported

  1. Bio‑based lubricating oil
  2. Transmission fluid
  3. Automatic transmission fluid (ATF)
  4. Marine engine oil
  5. Aviation (aircraft) engine oil
  • Brazil – The total valuation of lubricating oils exported from the USA to Brazil in 2024 – 18 million US dollars

Top 5 variants of lubricating oils exported

  1. Two‑stroke engine oil
  2. Four‑stroke engine oil
  3. Mineral base oil
  4. Synthetic base oil
  5. Semi‑synthetic (blend) oil
  • Singapore– The total valuation of lubricating oils exported from the USA to Singapore in 2024 – 16 million US dollars

Top 5 variants of lubricating oils exported

  1. Engine oil
  2. Gear oil
  3. Hydraulic oil
  4. Turbine oil
  5. Compressor oil

Comments

Post a Comment

Popular posts from this blog

An in-depth Analysis of Gold, Nicaragua's Top Export

Image
Although the economy of Nicaragua, the largest nation in Central America, is diverse, one product stands out above all others in terms of exports: gold. According to Nicaragua Export Data , gold has solidified its position as Nicaragua’s most valuable export during the last ten years, overtaking more conventional agricultural products like sugar and coffee. This blog offers a thorough analysis of Nicaragua’s gold export industry, including an overview of exports, data patterns from 2020 to 2024, important export destinations, the factors that make gold important to the country, important producing regions, global context, strategic implications, and forecast trends. Overview of Exports Nicaragua’s economy has relied heavily on gold output, especially in the previous ten to fifteen years. Gold is now Nicaragua’s top export by value thanks to substantial modernization and international investment in the mining industry, which was formerly eclipsed by agriculture. Rising global gold price...
Read more

Seafood Export of Uganda in 2023

Image
Seafood consumers right now are gradually increasing with time because of the different health benefits it provides to the in-taker. The different vitamins present like vitamin A, vitamin B, and vitamin D not only benefit the health but also aid the proper functioning of the immune system. The globally growing demands and the increasing production cavity of the industrial sectors are promoting the exporting rate of seafood contributing to a minimal share of the total annual export trade revenue. The use of different modern technologies for preserving seafood products and increasing its shelf life along with the greater workforce engaged in it for efficient production have led to a total export trade value of 500 million US dollars in 2023. Import Globals, Uganda Trade Data, highlights the key trade insights of the country’s global trade of seafood to help the business holders adapt to the strategies of business expansion worldwide.    TOP 10 SEAFOOD EXPORTS OF UGANDA IN 2023 A...
Read more

Overview of the Optical Equipment Import of Vietnam in 2023

Image
The demand for optical equipments in Vietnam has been steadily rising over the years because of the on growing demands from the industrial sectors and other consumer base. The growing awareness about eye care and its vital treatment regarding different fatal diseases is recording a positive impact over the whole eye care import of the nation in 2023 recording an annual growth rate of 10% year from 2019 onwards. Stability in trade relationship with different leading trade destination estates and attractive pricing strategies facilitate the annual import market. The growing domestic acquisitions and the limited production capability of the healthcare industries regarding the production of optical equipment have made the country record an annual import value of 2.3 billion US dollars in 2023. Import Globals with its Vietnam Trade Data highlights the global trade insights of the country’s regional shipments for helping the business holders expand their business worldwide via optimization o...
Read more