Bulgaria: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Bulgaria

The Bulgarian market for petroleum lubricating oil and grease reached $X in 2023, remaining constant against the previous year. Over the period under review, the total consumption indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the market remained at a lower figure.

Production of Petroleum Lubricating Oil And Grease in Bulgaria

In value terms, petroleum lubricating oil and grease production stood at $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2015 with an increase of X%. Petroleum lubricating oil and grease production peaked at $X in 2021; afterwards, it flattened through to 2023.

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Exports of Petroleum Lubricating Oil And Grease

Exports from Bulgaria

In 2023, the amount of petroleum lubricating oil and grease exported from Bulgaria shrank to X tons, with a decrease of X% on 2022 figures. In general, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, petroleum lubricating oil and grease exports amounted to $X in 2023. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Greece (X tons) was the main destination for petroleum lubricating oil and grease exports from Bulgaria, accounting for a X% share of total exports. Moreover, petroleum lubricating oil and grease exports to Greece exceeded the volume sent to the second major destination, Serbia (X tons), fourfold. Austria (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Greece totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (X% per year) and Austria (X% per year).

In value terms, the largest markets for petroleum lubricating oil and grease exported from Bulgaria were Greece ($X), Serbia ($X) and Austria ($X), together accounting for X% of total exports. Georgia, Turkey, the Czech Republic, Hungary, Albania, Romania, Kazakhstan, Germany and Ukraine lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2023, the average export price for petroleum lubricating oil and grease amounted to $X per ton, rising by X% against the previous year. In general, the export price posted buoyant growth. The growth pace was the most rapid in 2020 an increase of X%. Over the period under review, the average export prices hit record highs in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Albania ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Kazakhstan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Bulgaria

Petroleum lubricating oil and grease imports into Bulgaria declined notably to X tons in 2023, shrinking by X% on 2022. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease imports amounted to $X in 2023. Overall, total imports indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2023 and are likely to see steady growth in the near future.

Imports by Country

Germany (X tons), Italy (X tons) and the UK (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Bulgaria, with a combined X% share of total imports. The Netherlands, Greece, Austria, Poland, Belgium, France, Spain, Romania, Slovenia and Lithuania lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Greece (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of petroleum lubricating oil and grease to Bulgaria, comprising X% of total imports. The second position in the ranking was taken by the UK ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (X% per year) and Italy (X% per year).

Import Prices by Country

In 2023, the average import price for petroleum lubricating oil and grease amounted to $X per ton, growing by X% against the previous year. In general, import price indicated a resilient expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, petroleum lubricating oil and grease import price increased by X% against 2021 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. The import price peaked in 2023 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform