Report Update: May 1, 2024

United Kingdom - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends And Insights

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Price for Processed Petroleum Oils and Distillates in the UK - 2023

Price for Processed Petroleum Oils and Distillates in the UK (CIF) - 2022

The average import price for processed petroleum oils and distillates stood at $390 per ton in 2022, leveling off at the previous year. Over the period under review, the import price showed a drastic downturn. The pace of growth appeared the most rapid in 2018 an increase of 27% against the previous year. The import price peaked at $966 per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($576 per ton), while the price for China ($303 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-6.0%), while the prices for the other major suppliers experienced a decline.

Price for Processed Petroleum Oils and Distillates in the UK (FOB) - 2022

In 2022, the average export price for processed petroleum oils and distillates amounted to $950 per ton, surging by 44% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 72% against the previous year. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($1,170 per ton), while the average price for exports to Denmark ($659 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+1.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates in the UK

Processed petroleum oils and distillates imports into the UK surged to 61M tons in 2022, increasing by 122% against the year before. In general, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports skyrocketed to $23.7B in 2022. Over the period under review, imports posted a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Import of Processed Petroleum Oils and Distillates in the UK (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Netherlands	3,501	961	1,395	3,681	1.7%
United States	1,227	578	603	1,545	8.0%
Sweden	994	363	834	1,412	12.4%
Belgium	707	334	329	863	6.9%
India	66.3	169	102	579	105.9%
Ireland	307	135	N/A	571	23.0%
Norway	578	177	369	536	-2.5%
Greece	230	41.2	86.4	480	27.8%
Finland	439	193	135	418	-1.6%
France	447	157	87.3	386	-4.8%
China	807	235	158	358	-23.7%
Germany	247	128	165	318	8.8%
Portugal	30.0	9.1	10.8	201	88.5%
Others	7,183	4,338	6,413	12,336	19.8%
Total	16,764	7,818	10,688	23,682	12.2%

Top Suppliers of Processed Petroleum Oils and Distillates to the UK in 2022:

Netherlands (9.2M tons)
United States (4.8M tons)
Sweden (4.0M tons)
Belgium (1.9M tons)
Ireland (1.6M tons)
India (1.5M tons)
Norway (1.4M tons)
China (1.2M tons)
Finland (1.1M tons)
France (1.1M tons)
Greece (1.1M tons)
Germany (0.6M tons)
Portugal (0.5M tons)

Exports of Processed Petroleum Oils and Distillates in the UK

In 2022, approx. 20M tons of processed petroleum oils and distillates were exported from the UK; with an increase of 25% compared with 2021 figures. The total export volume increased at an average annual rate of +5.6% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates exports surged to $18.7B in 2022. In general, exports saw a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Processed Petroleum Oils and Distillates in the UK (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ireland	2,360	1,370	1,598	4,201	21.2%
Netherlands	3,107	2,052	2,301	3,844	7.4%
United States	2,029	805	1,704	2,935	13.1%
Belgium	1,576	857	2,108	2,619	18.4%
Nigeria	641	389	758	929	13.2%
Canada	58.9	89.7	211	554	111.1%
Morocco	0.5	127	196	375	808.6%
Spain	283	190	187	289	0.7%
Colombia	133	105	31.9	282	28.5%
Denmark	124	112	59.0	280	31.2%
France	217	142	170	264	6.8%
Gibraltar	101	49.3	101	247	34.7%
Others	1,206	901	992	1,872	15.8%
Total	11,837	7,191	10,417	18,690	16.4%

Top Export Markets for Processed Petroleum Oils and Distillates from the UK in 2022:

Netherlands (4.5M tons)
Ireland (3.9M tons)
Belgium (3.1M tons)
United States (2.9M tons)
Nigeria (1.0M tons)
Canada (0.5M tons)
Morocco (0.5M tons)
Denmark (0.4M tons)
Colombia (0.3M tons)
France (0.3M tons)
Gibraltar (0.3M tons)
Spain (0.3M tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for processed petroleum oils and distillates in the UK. 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:

Country coverage:

United Kingdom

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the UK
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

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In this report, you can find information that helps you to make informed decisions on the following issues:

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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