Spain: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Spain

The Spanish market for petroleum lubricating oil and grease skyrocketed to $X in 2023, jumping by X% against the previous year. Over the period under review, consumption enjoyed a slight increase. Petroleum lubricating oil and grease consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Production of Petroleum Lubricating Oil And Grease in Spain

In value terms, petroleum lubricating oil and grease production soared to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate a perceptible shrinkage. Petroleum lubricating oil and grease production peaked at $X in 2013; however, from 2014 to 2023, production stood at a somewhat lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Spain

After two years of growth, overseas shipments of petroleum lubricating oil and grease decreased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2017 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, petroleum lubricating oil and grease exports expanded rapidly to $X in 2023. Over the period under review, total exports indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are likely to see gradual growth in the immediate term.

Exports by Country

Portugal (X tons), France (X tons) and China (X tons) were the main destinations of petroleum lubricating oil and grease exports from Spain, together accounting for X% of total exports. Turkey, Italy, Germany, Morocco, the UK, Romania, Mexico, Poland, Greece and South Korea lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Romania (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for petroleum lubricating oil and grease exported from Spain were Portugal ($X), Germany ($X) and France ($X), with a combined X% share of total exports. China, Turkey, Morocco, Italy, the UK, Mexico, Poland, Romania, South Korea and Greece lagged somewhat behind, together accounting for a further X%.

Romania, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2023, with an increase of X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Spain

In 2023, petroleum lubricating oil and grease imports into Spain dropped markedly to X tons, declining by X% on the previous year. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, petroleum lubricating oil and grease imports fell to $X in 2023. Over the period under review, imports, however, saw a strong expansion. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

Germany (X tons), France (X tons) and Belgium (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Spain, with a combined X% share of total imports. Italy, the Netherlands and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Italy (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest petroleum lubricating oil and grease suppliers to Spain were Germany ($X), France ($X) and Belgium ($X), together comprising X% of total imports. Italy, the Netherlands and the UK lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Italy, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2023, surging by X% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, petroleum lubricating oil and grease import price increased by X% against 2013 indices. 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 the Netherlands ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform