Austria: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Austria

In 2022, the Austrian market for processed petroleum oils and distillates increased by 51% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Processed Petroleum Oils and Distillates in Austria

In value terms, processed petroleum oils and distillates production dropped to $X in 2022 estimated in export price. Over the period under review, production saw a pronounced setback. The growth pace was the most rapid in 2018 when the production volume increased by 23%. Processed petroleum oils and distillates production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports from Austria

In 2022, processed petroleum oils and distillates exports from Austria contracted dramatically to X tons, which is down by -44.3% compared with the year before. Over the period under review, exports saw a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 14% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, processed petroleum oils and distillates exports declined to $X in 2022. In general, exports continue to indicate a perceptible contraction. The pace of growth appeared the most rapid in 2021 with an increase of 61% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Hungary (X tons) was the main destination for processed petroleum oils and distillates exports from Austria, with a 45% share of total exports. Moreover, processed petroleum oils and distillates exports to Hungary exceeded the volume sent to the second major destination, Slovakia (X tons), threefold. Slovenia (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Hungary stood at +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-4.8% per year) and Slovenia (-2.1% per year).

In value terms, Hungary ($X) remains the key foreign market for processed petroleum oils and distillates exports from Austria, comprising 43% of total exports. The second position in the ranking was taken by Slovakia ($X), with a 14% share of total exports. It was followed by Slovenia, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Hungary stood at +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovakia (-4.5% per year) and Slovenia (-1.8% per year).

Export Prices by Country

The average export price for processed petroleum oils and distillates stood at $X per ton in 2022, surging by 55% against the previous year. In general, the export price continues to indicate a modest expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Switzerland ($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 Italy (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into Austria

In 2022, the amount of processed petroleum oils and distillates imported into Austria soared to X tons, rising by 92% compared with the previous year. Overall, imports posted a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports surged to $X in 2022. Over the period under review, imports showed a mild expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of processed petroleum oils and distillates to Austria, with a 71% share of total imports. Moreover, processed petroleum oils and distillates imports from Germany exceeded the figures recorded by the second-largest supplier, Slovenia (X tons), eightfold. Italy (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +12.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+14.9% per year) and Italy (+9.0% per year).

In value terms, Germany ($X) constituted the largest supplier of processed petroleum oils and distillates to Austria, comprising 73% of total imports. The second position in the ranking was held by Slovenia ($X), with a 9% share of total imports. It was followed by Italy, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovenia (+7.8% per year) and Italy (+2.9% per year).

Import Prices by Country

In 2022, the average import price for processed petroleum oils and distillates amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price, however, saw a deep slump. The pace of growth appeared the most rapid in 2018 an increase of 31% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 Italy ($X per ton), while the price for Slovakia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (-5.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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