Greece: Lubricant Additives Market Overview 2021

Lubricant Additives Market Size in Greece

In 2019, the Greek lubricant additives market decreased by -X% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the market value increased by X% y-o-y. Over the period under review, the market reached the peak level at $X in 2008; however, from 2009 to 2019, consumption failed to regain the momentum.

Lubricant Additives Exports

Exports from Greece

In 2019, the amount of prepared additives for mineral oils exported from Greece shrank to X tonnes, falling by -X% on the previous year. Overall, exports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2016 with an increase of X% year-to-year. Over the period under review, exports hit record highs at X tonnes in 2011; however, from 2012 to 2019, exports failed to regain the momentum.

In value terms, lubricant additives exports declined sharply to $X in 2019. Over the period under review, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% y-o-y. As a result, exports reached the peak of $X. From 2017 to 2019, the growth exports remained at a lower figure.

Exports by Country

Egypt (X tonnes), Barbados (X tonnes) and Cyprus (X tonnes) were the main destinations of lubricant additives exports from Greece, with a combined X% share of total exports. Albania, Switzerland, Bulgaria, Algeria, Germany, the Netherlands, Montenegro, Serbia, Cuba and the United Arab Emirates lagged somewhat behind, together accounting for a further X 2007 to 2019, the biggest increases were in Algeria (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) remains the key foreign market for lubricant additives exports from Greece, comprising X% of total exports. The second position in the ranking was occupied by Barbados ($X), with a X% share of total exports. It was followed by Cyprus, with a X% share.

From 2007 to 2019, the average annual growth rate of value to Egypt amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Barbados (+X% per year) and Cyprus (+X% per year).

Export Prices by Country

The average lubricant additives export price stood at $X per tonne in 2019, dropping by -X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2011 when the average export price increased by X% y-o-y. The export price peaked at $X per tonne in 2015; however, from 2016 to 2019, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Algeria ($X per tonne), while the average price for exports to Switzerland ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Cuba, while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Greece

In 2019, the amount of prepared additives for mineral oils imported into Greece fell to X tonnes, shrinking by -X% against 2018. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of X% y-o-y. Over the period under review, imports hit record highs at X tonnes in 2008; however, from 2009 to 2019, imports failed to regain the momentum.

In value terms, lubricant additives imports declined to $X in 2019. The total import value increased at an average annual rate of +X% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by X% year-to-year. Imports peaked at $X in 2008; however, from 2009 to 2019, imports stood at a somewhat lower figure.

Imports by Country

In 2019, France (X tonnes) constituted the largest supplier of lubricant additives to Greece, with a X% share of total imports. Moreover, lubricant additives imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tonnes), twofold. Italy (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2019, the average annual growth rate of volume from France stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Italy (+X% per year).

In value terms, France ($X) constituted the largest supplier of lubricant additives to Greece, comprising X% of total imports. The second position in the ranking was occupied by Germany ($X), with a X% share of total imports. It was followed by Italy, with a X% share.

From 2007 to 2019, the average annual growth rate of value from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Italy (+X% per year).

Import Prices by Country

The average lubricant additives import price stood at $X per tonne in 2019, with an increase of X% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2008 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per tonne in 2013; however, from 2014 to 2019, import prices failed to regain the momentum.

Prices varied noticeably by the country of origin; the country with the highest price was Belgium ($X per tonne), while the price for Belarus ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Belgium, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for prepared additives for mineral oils in the world?

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The country with the largest volume of lubricant additives consumption was China (1.6M tonnes), accounting for 21% of total volume. Moreover, lubricant additives consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (747K tonnes), twofold. The third position in this ranking was occupied by India (565K tonnes), with a 7.4% share.

What are the largest producers of prepared additives for mineral oils in the world?

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The countries with the highest volumes of lubricant additives production in 2019 were the U.S. (1.4M tonnes), China (1.4M tonnes) and France (1M tonnes), together accounting for 51% of global production. India, Italy, Germany, Singapore, Japan, Belgium, Russia, Brazil and Mexico lagged somewhat behind, together accounting for a further 39%.

What are the leading suppliers of prepared additives for mineral oils to Greece?

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In value terms, France ($27M) constituted the largest supplier of lubricant additives to Greece, comprising 48% of total imports. The second position in the ranking was occupied by Germany ($10M), with a 18% share of total imports. It was followed by Italy, with a 13% share.

What are the leading importers of prepared additives for mineral oils from Greece?

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In value terms, Egypt ($1.2M) remains the key foreign market for lubricant additives exports from Greece, comprising 23% of total exports. The second position in the ranking was occupied by Barbados ($604K), with a 11% share of total exports. It was followed by Cyprus, with a 11% share.

What is the average export price for prepared additives for mineral oils in Greece?

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In 2019, the average lubricant additives export price amounted to $4,396 per tonne, declining by -6.7% against the previous year.

What is the average import price for prepared additives for mineral oils in Greece?

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The average lubricant additives import price stood at $3,449 per tonne in 2019, picking up by 3.2% against the previous year.