Price for Lubricating Preparations Not for the Treatment of Materials in Belgium - 2023

Contents:

1. Price for Lubricating Preparations Not for the Treatment of Materials in Belgium (FOB) - 2023
2. Price for Lubricating Preparations Not for the Treatment of Materials in Belgium (CIF) - 2023
3. Exports of Lubricating Preparations Not for the Treatment of Materials in Belgium
4. Imports of Lubricating Preparations Not for the Treatment of Materials in Belgium

Price for Lubricating Preparations Not for the Treatment of Materials in Belgium (FOB) - 2023

The average export price for lubricating preparations not for the treatment of materials stood at $6,794 per ton in September 2023, reducing by -1.8% against the previous month. Overall, the export price, however, recorded a modest expansion. The growth pace was the most rapid in February 2023 an increase of 10% m-o-m. As a result, the export price attained the peak level of $7,079 per ton. From March 2023 to September 2023, the the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In September 2023, the country with the highest price was the United States ($14,741 per ton), while the average price for exports to Algeria ($5,089 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Lubricating Preparations Not for the Treatment of Materials in Belgium (CIF) - 2023

In September 2023, the average import price for lubricating preparations not for the treatment of materials amounted to $5,709 per ton, with an increase of 6.5% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.3%. The growth pace was the most rapid in April 2023 when the average import price increased by 19% month-to-month. Over the period under review, average import prices hit record highs at $6,115 per ton in July 2023; however, from August 2023 to September 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In September 2023, the country with the highest price was the United States ($12,977 per ton), while the price for Italy ($3,681 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Germany (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Exports of Lubricating Preparations Not for the Treatment of Materials in Belgium

In 2022, approx. 295K tons of lubricating preparations not for the treatment of materials were exported from Belgium; approximately reflecting 2021 figures. In general, exports, however, saw a mild decrease. The pace of growth appeared the most rapid in 2021 with an increase of 12% against the previous year.

In value terms, exports of lubricating preparations not for the treatment of materials expanded rapidly to $1.6B in 2022. Over the period under review, total exports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +14.4% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +49.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 23% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Top Export Markets for Lubricating Preparations Not for the Treatment of Materials from Belgium in 2022:

1. France (50.4K tons)
2. Germany (47.0K tons)
3. Netherlands (41.5K tons)
4. Spain (20.0K tons)
5. United Kingdom (13.2K tons)
6. Italy (10.5K tons)
7. China (8.3K tons)
8. Poland (7.8K tons)
9. United States (7.5K tons)
10. Sweden (6.7K tons)
11. Denmark (5.7K tons)
12. Czech Republic (5.1K tons)
13. Austria (3.0K tons)

Imports of Lubricating Preparations Not for the Treatment of Materials in Belgium

For the fourth year in a row, Belgium recorded growth in supplies from abroad of lubricating preparations not for the treatment of materials, which increased by 2.5% to 154K tons in 2022. The total import volume increased at an average annual rate of +4.6% from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth was the most pronounced in 2021 with an increase of 7%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of lubricating preparations not for the treatment of materials rose markedly to $750M in 2022. Over the period under review, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +19.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +70.8% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 28% against the previous year. Over the period under review, imports of lubricating preparations not for treatment of materials hit record highs in 2022 and are likely to continue growth in years to come.

Top Suppliers of Lubricating Preparations Not for the Treatment of Materials to Belgium in 2022:

1. Netherlands (45.0K tons)
2. Germany (43.2K tons)
3. France (32.7K tons)
4. United States (14.1K tons)
5. Spain (6.3K tons)
6. United Kingdom (3.8K tons)
7. Italy (2.5K tons)