Hungary: Lubricant Additives Market 2024

Lubricant Additives Market Size in Hungary

In 2022, the Hungarian lubricant additives market increased by X% to $X, rising for the fourth consecutive year after two years of decline. Overall, consumption saw a prominent increase. Lubricant additives consumption peaked in 2022 and is expected to retain growth in years to come.

Lubricant Additives Production in Hungary

In value terms, lubricant additives production stood at $X in 2022 estimated in export price. Over the period under review, production recorded a significant increase. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Lubricant Additives Exports

Exports from Hungary

In 2022, shipments abroad of prepared additives for mineral 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 recorded a mild decline. The most prominent rate of growth was recorded in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, lubricant additives exports fell significantly to $X in 2022. In general, total exports indicated a tangible expansion from 2012 to 2022: its value 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, exports decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Slovakia (X tons) was the main destination for lubricant additives exports from Hungary, accounting for a X% share of total exports. Moreover, lubricant additives exports to Slovakia exceeded the volume sent to the second major destination, Croatia (X tons), twofold. The third position in this ranking was held by Romania (X tons), with a X% share.

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

In value terms, Slovakia ($X), Romania ($X) and Croatia ($X) constituted the largest markets for lubricant additives exported from Hungary worldwide, with a combined X% share of total exports. Spain, Italy, Germany, the Czech Republic, North Macedonia, Poland and Austria lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2022, the average lubricant additives export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price, however, recorded noticeable growth. The growth pace was the most rapid in 2016 when the average export price increased by X%. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

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 ($X per ton), while the average price for exports to Austria ($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 the Czech Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Hungary

In 2022, supplies from abroad of prepared additives for mineral oils increased by X% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports posted a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives imports soared to $X in 2022. In general, total imports indicated a strong expansion from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The Czech Republic (X tons), France (X tons) and Slovakia (X tons) were the main suppliers of lubricant additives imports to Hungary, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Czech Republic (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 Hungary were France ($X), Belgium ($X) and Slovakia ($X), with a combined X% share of total imports. Germany, the Czech Republic, Italy, Austria, the Netherlands and the UK lagged somewhat behind, together comprising a further X%.

The Czech Republic, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of 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, reducing by X% against the previous year. Overall, the import price recorded a abrupt setback. The pace of growth was the most pronounced in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, import prices failed to regain momentum.

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 Italy ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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