Denmark: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Denmark

The Danish lubricating oil additive market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption, however, recorded a sharp shrinkage. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Lubricating Oil Additive Production in Denmark

In value terms, lubricating oil additive production soared to $X in 2022 estimated in export price. Over the period under review, production posted a strong increase. The pace of growth was the most pronounced in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Lubricating Oil Additive Exports

Exports from Denmark

In 2022, overseas shipments of additives for lubricating oils decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded moderate growth. The pace of growth appeared the most rapid in 2017 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 failed to regain momentum.

In value terms, lubricating oil additive exports fell to $X in 2022. In general, exports, however, recorded strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of $X, and then reduced slightly in the following year.

Exports by Country

Germany (X tons), Switzerland (X tons) and Sweden (X tons) were the main destinations of lubricating oil additive exports from Denmark, together comprising X% of total exports. The UK and Italy lagged somewhat behind, together accounting for 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 the UK (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricating oil additive exported from Denmark were Germany ($X), Switzerland ($X) and Sweden ($X), with a combined X% share of total exports. The UK and Italy lagged somewhat behind, together comprising a further X%.

The UK, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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 lubricating oil additive export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, 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, lubricating oil additive export price increased by X% against 2020 indices. The growth pace was the most rapid in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Sweden ($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 Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports into Denmark

In 2022, the amount of additives for lubricating oils imported into Denmark was estimated at X tons, approximately reflecting the previous year. Overall, imports enjoyed a notable increase. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, lubricating oil additive imports expanded notably to $X in 2022. Over the period under review, imports continue to indicate a pronounced expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Sweden (X tons) constituted the largest supplier of lubricating oil additive to Denmark, with a X% share of total imports. Moreover, lubricating oil additive imports from Sweden exceeded the figures recorded by the second-largest supplier, France (X tons), sixfold.

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

In value terms, Sweden ($X) constituted the largest supplier of additives for lubricating oils to Denmark, comprising X% of total imports. The second position in the ranking was taken by France ($X), with an X% share of total imports.

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

Import Prices by Country

In 2022, the average lubricating oil additive import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Germany ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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