EU: Lubricant Additives Market 2024

Lubricant Additives Market Size in the EU

In 2023, the EU lubricant additives market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then fell modestly in the following year.

Lubricant Additives Production in the EU

In value terms, lubricant additives production dropped to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2022, and then reduced in the following year.

Lubricant Additives Exports

Exports in the EU

In 2023, overseas shipments of prepared additives for mineral oils decreased by X% to X tons, falling for the second year in a row after three years of growth. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2022 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, lubricant additives exports contracted modestly to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then declined modestly in the following year.

Exports by Country

In 2023, France (X tons) represented the largest exporter of prepared additives for mineral oils, creating X% of total exports. Italy (X tons) ranks second in terms of the total exports with a X% share, followed by Belgium (X%) and Germany (X%). The Netherlands (X tons) held a relatively small share of total exports.

From 2012 to 2023, the biggest increases were recorded for Belgium (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, the largest lubricant additives supplying countries in the European Union were France ($X), Belgium ($X) and Italy ($X), with a combined X% share of total exports.

Belgium, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in the European Union amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in the Netherlands ($X per ton) and Belgium ($X per ton), while France ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other leaders experienced more modest paces of growth.

Lubricant Additives Imports

Imports in the EU

In 2023, supplies from abroad of prepared additives for mineral oils decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2022, and then reduced modestly in the following year.

In value terms, lubricant additives imports dropped to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

Belgium was the largest importer of prepared additives for mineral oils in the European Union, with the volume of imports reaching X tons, which was approx. X% of total imports in 2023. It was distantly followed by Germany (X tons), France (X tons), Italy (X tons), the Netherlands (X tons) and Spain (X tons), together constituting a X% share of total imports. Poland (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to lubricant additives imports into Belgium stood at X%. At the same time, Poland (X%) and Germany (X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the European Union, with a CAGR of X% from 2012-2023. France and Spain experienced a relatively flat trend pattern. By contrast, the Netherlands (X%) and Italy (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Belgium increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X), Germany ($X) and France ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Italy, the Netherlands, Spain and Poland lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the import price in the European Union amounted to $X per ton, growing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2022 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was France ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform