Israel: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Israel

The Israeli market for processed petroleum oils and distillates expanded rapidly to $X in 2022, growing by X% against the previous year. Overall, the total consumption indicated a remarkable increase 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, consumption increased by X% against 2020 indices. Processed petroleum oils and distillates consumption peaked in 2022 and is expected to retain growth in years to come.

Production of Processed Petroleum Oils and Distillates in Israel

In value terms, processed petroleum oils and distillates production fell slightly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Exports of Processed Petroleum Oils and Distillates

Exports from Israel

In 2022, shipments abroad of processed petroleum oils and distillates decreased by X% to X tons, falling for the eighth consecutive year after three years of growth. In general, exports faced a abrupt slump. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, processed petroleum oils and distillates exports totaled $X in 2022. Over the period under review, exports saw a pronounced curtailment. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Palestine (X tons), Cyprus (X tons) and Turkey (X tons) were the main destinations of processed petroleum oils and distillates exports from Israel, with a combined X% share of total exports. Slovenia, Italy, Malta, South Korea, the Netherlands, the United States, Bulgaria, Greece, Spain and Ukraine lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

It was followed by Turkey, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Palestine stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (X% per year) and Turkey (X% per year).

Export Prices by Country

The average export price for processed petroleum oils and distillates stood at $X per ton in 2022, stabilizing at the previous year. Over the period under review, the export price saw resilient growth. The pace of growth appeared the most rapid in 2016 an increase of X%. The export price peaked in 2022 and is likely to see gradual 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 the United States ($X per ton), while the average price for exports to Bulgaria ($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 United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into Israel

In 2022, imports of processed petroleum oils and distillates into Israel skyrocketed to X tons, increasing by X% against the previous year's figure. In general, total imports indicated a tangible increase from 2012 to 2022: its volume 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.

In value terms, processed petroleum oils and distillates imports surged to $X in 2022. Over the period under review, imports enjoyed a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons), Singapore (X tons) and Switzerland (X tons) were the main suppliers of processed petroleum oils and distillates imports to Israel, together accounting for X% of total imports.

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

In value terms, Russia ($X), Singapore ($X) and Switzerland ($X) appeared to be the largest processed petroleum oils and distillates suppliers to Israel, together accounting for X% of total imports. Belgium, Malta, the United States and Jamaica lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Jamaica, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 import price for processed petroleum oils and distillates amounted to $X per ton, increasing by X% against the previous year. In general, the import price saw a slight expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per ton), while the price for Jamaica ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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