Argentina: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Argentina

In 2022, the Argentinian market for petroleum lubricating oil and grease increased by X% to $X, rising for the second year in a row after three years of decline. Overall, the total consumption indicated tangible 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. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Petroleum Lubricating Oil And Grease in Argentina

In value terms, petroleum lubricating oil and grease production contracted to $X in 2022 estimated in export price. In general, the total production indicated temperate 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Argentina

In 2022, approx. X tons of petroleum lubricating oil and grease were exported from Argentina; with an increase of X% compared with 2021. Overall, exports, however, showed a deep reduction. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, petroleum lubricating oil and grease exports soared to $X in 2022. In general, exports, however, faced a deep setback. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

Bolivia (X tons) was the main destination for petroleum lubricating oil and grease exports from Argentina, with a X% share of total exports. Moreover, petroleum lubricating oil and grease exports to Bolivia exceeded the volume sent to the second major destination, Chile (X tons), twofold. Paraguay (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bolivia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Paraguay (X% per year).

In value terms, Chile ($X), Bolivia ($X) and Ecuador ($X) appeared to be the largest markets for petroleum lubricating oil and grease exported from Argentina worldwide, with a combined X% share of total exports.

Bolivia, with a CAGR of X%, 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

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2022, which is down by X% against the previous year. Overall, export price indicated a perceptible expansion 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, petroleum lubricating oil and grease export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while the average price for exports to Bolivia ($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 Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Argentina

In 2022, petroleum lubricating oil and grease imports into Argentina surged to X tons, picking up by X% compared with the previous year's figure. Over the period under review, imports enjoyed a mild expansion. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease imports expanded sharply to $X in 2022. In general, total imports indicated a noticeable 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. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

The United States (X tons), Brazil (X tons) and Germany (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Argentina, together comprising X% of total imports. France, Switzerland, China, Belgium, Spain, the Netherlands, Italy and Japan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for China (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 Argentina were the United States ($X), Brazil ($X) and Germany ($X), with a combined X% share of total imports.

In terms of the main suppliers, Brazil, with a CAGR of X%, saw the highest growth rate of 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 2022, waning by X% against the previous year. In general, import price indicated a moderate increase 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, petroleum lubricating oil and grease import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2015 an increase of X% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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