Belgium: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Belgium

In 2021, after three years of decline, there was significant growth in the Belgian lubricating oil additive market, when its value increased by 15% to $X. Over the period under review, consumption, however, showed a abrupt shrinkage. Lubricating oil additive consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Lubricating Oil Additive Production in Belgium

In value terms, lubricating oil additive production expanded rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the production volume increased by 12%. Lubricating oil additive production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Lubricating Oil Additive Exports

Exports from Belgium

In 2021, approx. X tons of additives for lubricating oils were exported from Belgium; with an increase of 14% compared with 2020. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 1,911%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, lubricating oil additive exports skyrocketed to $X in 2021. In general, exports posted a significant expansion. The pace of growth appeared the most rapid in 2018 when exports increased by 1,422%. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

Germany (X tons), the Netherlands (X tons) and France (X tons) were the main destinations of lubricating oil additive exports from Belgium, with a combined 36% share of total exports. These countries were followed by the United Arab Emirates, Russia, Brazil, Italy, Turkey, South Africa, the UK, India, Spain and China, which together accounted for a further 37%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Brazil (with a CAGR of +186.1%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and the Netherlands ($X) appeared to be the largest markets for lubricating oil additive exported from Belgium worldwide, with a combined 39% share of total exports. These countries were followed by Russia, the United Arab Emirates, Italy, Turkey, South Africa, the UK, Brazil, India, China and Spain, which together accounted for a further 36%.

In terms of the main countries of destination, India, with a CAGR of +158.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lubricating oil additive export price stood at $X per ton in 2021, surging by 2.9% against the previous year. Overall, the export price, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2013 when the average export price increased by 3.7% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (-0.9%), while the prices for the other major destinations experienced a decline.

Lubricating Oil Additive Imports

Imports into Belgium

In 2021, supplies from abroad of additives for lubricating oils increased by 26% to X tons, rising for the fourth consecutive year after four years of decline. In general, imports posted a measured expansion. The most prominent rate of growth was recorded in 2020 with an increase of 147% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, lubricating oil additive imports skyrocketed to $X in 2021. Over the period under review, imports showed a modest increase. The growth pace was the most rapid in 2020 with an increase of 111% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of lubricating oil additive to Belgium, accounting for a 53% share of total imports. Moreover, lubricating oil additive imports from France exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. Italy (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from France totaled +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.8% per year) and Italy (+0.8% per year).

In value terms, the largest lubricating oil additive suppliers to Belgium were France ($X), the United States ($X) and Italy ($X), together comprising 82% of total imports. These countries were followed by Germany, the Netherlands, Mexico, Singapore and the UK, which together accounted for a further 16%.

Among the main suppliers, Singapore, with a CAGR of +76.5%, recorded 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 lubricating oil additive import price stood at $X per ton in 2021, declining by -8% against the previous year. Over the period under review, the import price showed a noticeable decrease. The pace of growth appeared the most rapid in 2017 when the average import price increased by 7.4%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, 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 Germany ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+2.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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