Report Update: May 1, 2024

Hungary - Petroleum Lubricating Oil And Grease - Market Analysis, Forecast, Size, Trends and Insights

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Price for Petroleum Lubricating Oil and Grease in Hungary - 2023

Price for Petroleum Lubricating Oil and Grease in Hungary (CIF) - 2023

In July 2023, the average import price for petroleum lubricating oil and grease amounted to $5,435 per ton, with a decrease of -5.3% against the previous month. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in May 2023 an increase of 13% month-to-month. As a result, import price reached the peak level of $6,404 per ton. From June 2023 to July 2023, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Austria ($9,538 per ton), while the price for Greece ($2,517 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Belgium (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Price for Petroleum Lubricating Oil and Grease in Hungary (FOB) - 2023

In July 2023, the average export price for petroleum lubricating oil and grease amounted to $5,635 per ton, waning by -3.7% against the previous month. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in August 2022 an increase of 12% m-o-m. The export price peaked at $6,044 per ton in March 2023; however, from April 2023 to July 2023, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In July 2023, the countries with the highest prices were Slovakia ($6,601 per ton) and the United States ($6,180 per ton), while the average price for exports to India ($4,574 per ton) and Romania ($4,870 per ton) were amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Slovakia (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil and Grease in Hungary

In 2022, imports of petroleum lubricating oil and grease into Hungary expanded significantly to 12K tons, surging by 5.3% compared with 2021. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 17% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, petroleum lubricating oil and grease imports expanded remarkably to $56M in 2022. The total import value increased at an average annual rate of +7.0% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Import of Petroleum Lubricating Oil and Grease in Hungary (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Germany	20.7	20.8	29.1	32.2	15.9%
Poland	2.8	3.0	3.5	4.4	16.3%
Belgium	2.0	2.4	2.6	3.2	17.0%
Italy	2.1	1.8	2.2	2.6	7.4%
Czech Republic	1.2	1.0	2.8	2.6	29.4%
United Kingdom	2.1	2.0	2.5	1.8	-5.0%
Spain	0.3	0.5	0.8	1.6	74.7%
Netherlands	1.1	1.0	1.0	1.3	5.7%
Lithuania	1.1	1.2	1.7	1.3	5.7%
Switzerland	1.7	1.1	1.1	1.0	-16.2%
Greece	0.2	0.4	0.5	0.7	51.8%
France	1.5	1.2	0.8	0.7	-22.4%
Slovakia	5.0	1.4	0.4	0.2	-65.8%
Others	4.2	4.2	3.9	2.7	-13.7%
Total	45.9	41.8	52.9	56.2	7.0%

Top Suppliers of Petroleum Lubricating Oil and Grease to Hungary in 2022:

Germany (5768.0 tons)
Poland (860.1 tons)
Italy (799.3 tons)
Belgium (680.1 tons)
Czech Republic (668.4 tons)
Spain (473.7 tons)
Lithuania (409.6 tons)
Netherlands (371.7 tons)
United Kingdom (358.5 tons)
Greece (276.0 tons)
Switzerland (204.1 tons)
France (197.1 tons)
Slovakia (31.1 tons)

Exports of Petroleum Lubricating Oil and Grease in Hungary

In 2022, petroleum lubricating oil and grease exports from Hungary soared to 2.6K tons, increasing by 21% against the previous year's figure. Over the period under review, exports, however, showed a abrupt setback.

In value terms, petroleum lubricating oil and grease exports soared to $14M in 2022. Overall, total exports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +8.5% 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 +61.3% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Petroleum Lubricating Oil and Grease in Hungary (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Romania	1,940	1,536	1,921	1,937	-0.1%
United States	22.3	41.8	601	1,682	322.5%
Germany	1,002	941	1,122	1,520	14.9%
Slovakia	713	892	1,018	1,316	22.7%
Kazakhstan	N/A	0.6	N/A	751	3437.9%
Czech Republic	830	631	458	670	-6.9%
Belgium	428	484	406	657	15.4%
Italy	630	693	462	599	-1.7%
India	154	130	312	474	45.5%
Poland	152	87.6	160	364	33.8%
Spain	427	352	384	357	-5.8%
Turkey	114	13.5	4.1	275	34.1%
Russia	656	532	623	232	-29.3%
Others	3,615	2,126	2,681	2,816	-8.0%
Total	10,683	8,460	10,151	13,649	8.5%

Top Export Markets for Petroleum Lubricating Oil and Grease from Hungary in 2022:

Romania (438.1 tons)
United States (291.1 tons)
Germany (283.4 tons)
Slovakia (268.5 tons)
Czech Republic (156.0 tons)
Kazakhstan (137.1 tons)
Italy (136.6 tons)
Belgium (136.2 tons)
India (95.2 tons)
Poland (68.6 tons)
Russia (67.6 tons)
Spain (56.6 tons)
Turkey (56.1 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for petroleum lubricating oil and grease in Hungary. 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 20594155 - Lubricating preparations containing as basic constituents < .70% by weight of petroleum oils or of oils obtained from bituminous minerals for textiles, leather, hides, furskins and other materials
Prodcom 20594157 - Lubricating preparations obtained from petroleum or bituminous minerals, excluding the ones used for the treatment of textiles, leather, hides, furskins and other materials

Country coverage:

Hungary

Data coverage:

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