CIS: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in CIS

The CIS market for petroleum lubricating oil and grease reached $X in 2023, surging by X% against the previous year. The total consumption indicated a perceptible expansion 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, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Production of Petroleum Lubricating Oil And Grease in CIS

In value terms, petroleum lubricating oil and grease production soared to $X in 2023 estimated in export price. The total production indicated modest growth 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, production decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2023, production failed to regain momentum.

Exports of Petroleum Lubricating Oil And Grease

Exports in CIS

Petroleum lubricating oil and grease exports declined to X tons in 2023, waning by X% against the year before. Overall, exports, however, enjoyed a notable expansion. The pace of growth was the most pronounced in 2014 when exports increased by X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, petroleum lubricating oil and grease exports surged to $X in 2023. In general, exports, however, recorded perceptible growth. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Russia was the key exporting country with an export of about X tons, which resulted at X% of total exports. It was distantly followed by Belarus (X tons), generating a X% share of total exports. Armenia (X tons) followed a long way behind the leaders.

Russia experienced a relatively flat trend pattern with regard to volume of exports of petroleum lubricating oil and grease. At the same time, Armenia (X%) and Belarus (X%) displayed positive paces of growth. Moreover, Armenia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Belarus and Armenia increased by X and X percentage points, respectively.

In value terms, Russia ($X) remains the largest petroleum lubricating oil and grease supplier in the CIS, comprising X% of total exports. The second position in the ranking was taken by Belarus ($X), with a X% share of total exports.

In Russia, petroleum lubricating oil and grease exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Belarus (X% per year) and Armenia (X% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2023, jumping by X% against the previous year. Export price indicated a temperate 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. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Russia ($X per ton), while Armenia ($X per ton) was amongst the lowest.

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

Imports of Petroleum Lubricating Oil And Grease

Imports in CIS

In 2023, approx. X tons of petroleum lubricating oil and grease were imported in the CIS; increasing by X% against the year before. In general, imports showed a relatively flat trend pattern. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2023, imports remained at a lower figure.

In value terms, petroleum lubricating oil and grease imports surged to $X in 2023. Over the period under review, imports, however, showed a slight shrinkage. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

Russia represented the main importing country with an import of about X tons, which accounted for X% of total imports. Uzbekistan (X tons) ranks second in terms of the total imports with a X% share, followed by Kazakhstan (X%) and Belarus (X%). Moldova (X tons) took a relatively small share of total imports.

Imports into Russia decreased at an average annual rate of X% from 2012 to 2023. At the same time, Uzbekistan (X%), Belarus (X%), Kazakhstan (X%) and Moldova (X%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the CIS, with a CAGR of X% from 2012-2023. Uzbekistan (X p.p.), Belarus (X p.p.) and Kazakhstan (X p.p.) significantly strengthened its position in terms of the total imports, while Russia saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported petroleum lubricating oil and grease in the CIS, comprising X% of total imports. The second position in the ranking was held by Belarus ($X), with a X% share of total imports. It was followed by Uzbekistan, with a X% share.

In Russia, petroleum lubricating oil and grease imports decreased by an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Belarus (X% per year) and Uzbekistan (X% per year).

Import Prices by Country

The import price in the CIS stood at $X per ton in 2023, declining by X% against the previous year. In general, the import price recorded a pronounced descent. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Moldova ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Moldova (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform