Luxembourg: Lubricating Oil Additive Market 2022

Lubricating Oil Additive Market Size in Luxembourg

In 2021, the Luxembourg lubricating oil additive market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption showed perceptible growth. Lubricating oil additive consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Lubricating Oil Additive Exports

Exports from Luxembourg

In 2021, approx. X tons of additives for lubricating oils were exported from Luxembourg; with a decrease of -68.6% against the year before. Over the period under review, exports saw a deep reduction. The pace of growth was the most pronounced in 2020 when exports increased by 1,692% against the previous year. As a result, the exports reached the peak of X tons, and then dropped dramatically in the following year.

In value terms, lubricating oil additive exports dropped dramatically to $X in 2021. Overall, exports saw a abrupt decrease. The pace of growth appeared the most rapid in 2020 when exports increased by 273%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Germany (X tons) was the main destination for lubricating oil additive exports from Luxembourg, with a 66% share of total exports. Moreover, lubricating oil additive exports to Germany exceeded the volume sent to the second major destination, Belgium (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +30.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+3.7% per year) and France (-9.7% per year).

In value terms, the largest markets for lubricating oil additive exported from Luxembourg were Belgium ($X), Germany ($X) and France ($X), with a combined 100% share of total exports.

Germany, with a CAGR of +36.6%, saw 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 2021, the average lubricating oil additive export price amounted to $X per ton, picking up by 115% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 an increase of 128%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+19.3%), while the prices for the other major destinations experienced mixed trend patterns.

Lubricating Oil Additive Imports

Imports into Luxembourg

In 2021, after two years of decline, there was significant growth in overseas purchases of additives for lubricating oils, when their volume increased by 45% to X tons. Over the period under review, imports posted a strong increase. The growth pace was the most rapid in 2016 with an increase of 101%. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, lubricating oil additive imports soared to $X in 2021. Overall, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 65%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of lubricating oil additive to Luxembourg, accounting for a 87% share of total imports. Moreover, lubricating oil additive imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. The Netherlands (X tons) ranked third in terms of total imports with a 4.7% share.

From 2012 to 2021, the average annual growth rate of volume from Germany amounted to +22.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+0.9% per year) and the Netherlands (+24.0% per year).

In value terms, Germany ($X) constituted the largest supplier of lubricating oil additive to Luxembourg, comprising 61% of total imports. The second position in the ranking was held by Belgium ($X), with a 27% share of total imports. It was followed by France, with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany stood at +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+8.9% per year) and France (-23.7% per year).

Import Prices by Country

The average lubricating oil additive import price stood at $X per ton in 2021, waning by -9.9% against the previous year. Over the period under review, the import price continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2019 an increase of 93%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+8.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :