Serbia: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Serbia

After two years of growth, the Serbian lubricating oil additive market decreased by X% to $X in 2022. Overall, consumption, however, recorded a prominent expansion. As a result, consumption attained the peak level of $X, and then contracted modestly in the following year.

Lubricating Oil Additive Exports

Exports from Serbia

In 2022, approx. X tons of additives for lubricating oils were exported from Serbia; jumping by X% compared with the previous year's figure. Overall, exports recorded a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lubricating oil additive exports soared to $X in 2022. Over the period under review, exports enjoyed significant growth. The pace of growth was the most pronounced in 2018 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for lubricating oil additive exports from Serbia, with a X% share of total exports. Moreover, lubricating oil additive exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Russia (X tons), more than tenfold.

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

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for additives for lubricating oils exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Russia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bosnia and Herzegovina amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and North Macedonia (X% per year).

Export Prices by Country

The average lubricating oil additive export price stood at $X per ton in 2022, reducing by X% against the previous year. Overall, export price indicated perceptible growth from 2012 to 2022: its price 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, lubricating oil additive export price increased by X% against 2017 indices. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The export price peaked at $X per ton in 2021, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Russia ($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.

Lubricating Oil Additive Imports

Imports into Serbia

In 2022, overseas purchases of additives for lubricating 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, imports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, lubricating oil additive imports rose notably to $X in 2022. In general, imports, however, recorded a strong increase. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, France (X tons) constituted the largest lubricating oil additive supplier to Serbia, with a X% share of total imports. Moreover, lubricating oil additive imports from France exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from France amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Germany (X% per year).

In value terms, France ($X) constituted the largest supplier of additives for lubricating oils to Serbia, comprising X% of total imports. The second position in the ranking was held by Belgium ($X), with an X% share of total imports. It was followed by the United States, with an X% share.

From 2012 to 2022, the average annual growth rate of value from France totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and the United States (X% per year).

Import Prices by Country

In 2022, the average lubricating oil additive import price amounted to $X per ton, with an increase of X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price reached 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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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