Croatia: Lubricant Additives Market 2024

Lubricant Additives Market Size in Croatia

The Croatian lubricant additives market shrank markedly to $X in 2022, waning by X% against the previous year. Overall, consumption, however, showed a remarkable increase. As a result, consumption reached the peak level of $X, and then contracted significantly in the following year.

Lubricant Additives Production in Croatia

In value terms, lubricant additives production reduced dramatically to $X in 2022 estimated in export price. In general, production, however, posted significant growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production attained the peak level at $X in 2021, and then dropped significantly in the following year.

Lubricant Additives Exports

Exports from Croatia

In 2022, overseas shipments of prepared additives for mineral oils increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports saw a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, lubricant additives exports expanded rapidly to $X in 2022. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for lubricant additives exports from Croatia, accounting for a X% share of total exports. Moreover, lubricant additives exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Romania (X tons), threefold. Serbia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Bosnia and Herzegovina stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and Serbia (X% per year).

In value terms, the largest markets for lubricant additives exported from Croatia were Bosnia and Herzegovina ($X), North Macedonia ($X) and Slovenia ($X), together accounting for X% of total exports. Serbia, Romania, Italy, Turkey and Austria lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Turkey, with a CAGR of X%, recorded the highest growth rate of 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 2022, the average lubricant additives export price amounted to $X per ton, growing by X% against the previous year. Overall, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lubricant additives export price increased by X% against 2016 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

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

Lubricant Additives Imports

Imports into Croatia

In 2022, supplies from abroad of prepared additives for mineral oils increased by X% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, lubricant additives imports expanded remarkably to $X in 2022. Over the period under review, imports showed a slight expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Belgium (X tons), France (X tons) and the Netherlands (X tons) were the main suppliers of lubricant additives imports to Croatia, together accounting for X% of total imports. Slovenia, Hungary, Germany, Poland, Italy, Austria and the United States lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricant additives suppliers to Croatia were Belgium ($X), France ($X) and the Netherlands ($X), with a combined X% share of total imports. Germany, Hungary, Slovenia, Italy, the United States, Poland and Austria lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average lubricant additives import price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, lubricant additives import price increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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