Belgium: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Belgium

In 2022, the Belgian market for petroleum lubricating oil and grease was finally on the rise to reach $X after two years of decline. Over the period under review, the total consumption indicated a prominent expansion 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. Over the period under review, the market reached the peak level at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Production of Petroleum Lubricating Oil And Grease in Belgium

In value terms, petroleum lubricating oil and grease production rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Petroleum lubricating oil and grease production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Petroleum Lubricating Oil And Grease

Exports from Belgium

In 2022, after two years of growth, there was significant decline in shipments abroad of petroleum lubricating oil and grease, when their volume decreased by X% to X tons. Over the period under review, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, petroleum lubricating oil and grease exports totaled $X in 2022. Overall, total exports indicated notable 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, exports increased by X% against 2015 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

France (X tons), Germany (X tons) and the Netherlands (X tons) were the main destinations of petroleum lubricating oil and grease exports from Belgium, together accounting for X% of total exports. The UK, Poland, Spain, Italy, the United States, China, Denmark, the Czech Republic, Sweden and Russia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and the Netherlands ($X) constituted the largest markets for petroleum lubricating oil and grease exported from Belgium worldwide, with a combined X% share of total exports. The UK, China, Italy, Poland, the United States, Spain, Denmark, Sweden, the Czech Republic and Russia lagged somewhat behind, together comprising a further X%.

In terms of the main countries of destination, the United States, with a CAGR of X%, 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 export price for petroleum lubricating oil and grease stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

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

Imports of Petroleum Lubricating Oil And Grease

Imports into Belgium

For the third consecutive year, Belgium recorded growth in supplies from abroad of petroleum lubricating oil and grease, which increased by X% to X tons in 2022. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by X%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease imports expanded markedly to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

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

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for 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 petroleum lubricating oil and grease suppliers to Belgium, with a combined X% share of total imports. The United States, the UK, Spain and Italy lagged somewhat behind, together accounting for a further X%.

Spain, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for petroleum lubricating oil and grease amounted to $X per ton, flattening at the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 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 the United States ($X per ton), while the price for Spain ($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 United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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