Lithuania: Lubricant Additives Market 2024

Lubricant Additives Market Size in Lithuania

The Lithuanian lubricant additives market rose remarkably to $X in 2022, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated resilient growth 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. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Lubricant Additives Exports

Exports from Lithuania

In 2022, the amount of prepared additives for mineral oils exported from Lithuania surged to X tons, picking up by X% compared with 2021. In general, exports continue to indicate resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lubricant additives exports skyrocketed to $X in 2022. Overall, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Belarus (X tons) was the main destination for lubricant additives exports from Lithuania, with a X% share of total exports. Moreover, lubricant additives exports to Belarus exceeded the volume sent to the second major destination, Russia (X tons), more than tenfold. Uzbekistan (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 Belarus stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and Uzbekistan (X% per year).

In value terms, Belarus ($X) emerged as the key foreign market for prepared additives for mineral oils exports from Lithuania, comprising X% of total exports. The second position in the ranking was held by Russia ($X), with a X% share of total exports. It was followed by Kazakhstan, with a X% share.

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

Export Prices by Country

In 2022, the average lubricant additives export price amounted to $X per ton, with an increase of X% against the previous year. Over the period under review, the export price showed prominent growth. The growth pace was the most rapid in 2013 when the average export price increased by X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

Lubricant Additives Imports

Imports into Lithuania

In 2022, purchases abroad of prepared additives for mineral oils increased by X% to X tons, rising for the seventh consecutive year after two years of decline. In general, total imports indicated buoyant growth 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 2015 indices. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, lubricant additives imports surged to $X in 2022. Over the period under review, total imports indicated a buoyant 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, 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

Belgium (X tons), France (X tons) and Sweden (X tons) were the main suppliers of lubricant additives imports to Lithuania, together accounting for X% of total imports. Germany, Russia, the Netherlands, the UK and Italy 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 Russia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Sweden ($X) and France ($X) were the largest lubricant additives suppliers to Lithuania, together comprising X% of total imports. The Netherlands, Germany, Russia, Italy and the UK lagged somewhat behind, together comprising a further X%.

Russia, with a CAGR of X%, recorded 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, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

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

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

Source: IndexBox Platform

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