Scandinavia: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Scandinavia

The Scandinavia market for processed petroleum oils and distillates soared to $X in 2022, rising by X% against the previous year. The total consumption indicated a temperate 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. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Processed Petroleum Oils and Distillates in Scandinavia

In value terms, processed petroleum oils and distillates production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a pronounced decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports in Scandinavia

In 2022, the amount of processed petroleum oils and distillates exported in Scandinavia dropped to X tons, declining by X% compared with the previous year. In general, exports recorded a mild curtailment. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, processed petroleum oils and distillates exports soared to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden was the main exporting country with an export of around X tons, which reached X% of total exports. Norway (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Finland (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Sweden (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) were the countries with the highest levels of exports in 2022.

Sweden, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

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

Imports of Processed Petroleum Oils and Distillates

Imports in Scandinavia

In 2022, overseas purchases of processed petroleum oils and distillates increased by X% to X tons, rising for the fourth year in a row after two years of decline. Overall, imports continue to indicate a prominent expansion. 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 soared to $X in 2022. Over the period under review, imports showed a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden was the major importer of processed petroleum oils and distillates in Scandinavia, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. Finland (X tons) ranks second in terms of the total imports with a X% share, followed by Norway (X%).

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

In value terms, Norway ($X), Sweden ($X) and Finland ($X) appeared to be the countries with the highest levels of imports in 2022.

Norway, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price, however, recorded a deep setback. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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