Argentina: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Argentina

The Argentinian market for processed petroleum oils and distillates dropped to $X in 2022, shrinking by X% against the previous year. Overall, consumption showed a noticeable decline. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Processed Petroleum Oils and Distillates in Argentina

In value terms, processed petroleum oils and distillates production shrank to $X in 2022 estimated in export price. In general, production recorded a abrupt downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports from Argentina

In 2022, the amount of processed petroleum oils and distillates exported from Argentina dropped to X tons, falling by X% compared with 2021 figures. Over the period under review, exports recorded a abrupt decrease. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, processed petroleum oils and distillates exports reached $X in 2022. Overall, exports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Paraguay (X tons) and Ecuador (X tons) were the main destinations of processed petroleum oils and distillates exports from Argentina, together comprising X% of total exports. Brazil, the Netherlands, Chile and Belgium lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Paraguay ($X), the United States ($X) and Ecuador ($X) appeared to be the largest markets for processed petroleum oils and distillates exported from Argentina worldwide, with a combined X% share of total exports. Brazil, Chile, the Netherlands and Belgium lagged somewhat behind, together comprising a further X%.

Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for processed petroleum oils and distillates stood at $X per ton in 2022, surging by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Chile ($X per ton), while the average price for exports to the United States ($X 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 Paraguay (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Processed Petroleum Oils and Distillates

Imports into Argentina

In 2022, the amount of processed petroleum oils and distillates imported into Argentina shrank sharply to X tons, which is down by X% against the previous year's figure. In general, imports, however, posted resilient growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then shrank rapidly in the following year.

In value terms, processed petroleum oils and distillates imports surged to $X in 2022. Over the period under review, imports, however, showed a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, the United States (X tons) constituted the largest processed petroleum oils and distillates supplier to Argentina, accounting for a X% share of total imports. Moreover, processed petroleum oils and distillates imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), sixfold. Brazil (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Brazil (X% per year).

In value terms, the United States ($X) constituted the largest supplier of processed petroleum oils and distillates to Argentina, comprising X% of total imports. The second position in the ranking was held by the Netherlands ($X), with a X% share of total imports. It was followed by Brazil, with a X% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (X% per year) and Brazil (X% per year).

Import Prices by Country

In 2022, the average import price for processed petroleum oils and distillates amounted to $X per ton, rising by X% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Finland ($X per ton) and Oman ($X per ton), while the price for the United States ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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