Belgium: Lubricant Additives Market 2024

Lubricant Additives Market Size in Belgium

In 2021, after three years of decline, there was significant growth in the Belgian lubricant additives market, when its value increased by 20% to $X. Overall, consumption, however, showed a noticeable setback. Lubricant additives consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Lubricant Additives Production in Belgium

In value terms, lubricant additives production soared to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Lubricant Additives Exports

Exports from Belgium

In 2021, shipments abroad of prepared additives for mineral oils increased by 9.8% to X tons, rising for the fourth year in a row after five years of decline. In general, exports posted a buoyant increase. The pace of growth was the most pronounced in 2020 when exports increased by 375%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, lubricant additives exports rose markedly to $X in 2021. Overall, exports recorded a strong expansion. The pace of growth was the most pronounced in 2020 when exports increased by 351%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons), the Netherlands (X tons) and France (X tons) were the main destinations of lubricant additives exports from Belgium, together accounting for 36% of total exports. These countries were followed by the United Arab Emirates, Russia, Italy, Brazil, Turkey, the UK, South Africa, Spain, India and Finland, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +54.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), France ($X) and the Netherlands ($X) were the largest markets for lubricant additives exported from Belgium worldwide, with a combined 40% share of total exports. Russia, the United Arab Emirates, Italy, Turkey, the UK, South Africa, Spain, Brazil, India and Finland lagged somewhat behind, together comprising a further 33%.

Among the main countries of destination, India, with a CAGR of +50.6%, 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

In 2021, the average lubricant additives export price amounted to $X per ton, with an increase of 3.8% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 32%. As a result, the export price reached the peak level of $X per ton. From 2017 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 France ($X per ton), while the average price for exports to Brazil ($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 Turkey (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Belgium

In 2021, imports of prepared additives for mineral oils into Belgium soared to X tons, with an increase of 28% compared with the previous year's figure. Overall, imports showed a perceptible expansion. The pace of growth appeared the most rapid in 2020 when imports increased by 113%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, lubricant additives imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a slight expansion. The growth pace was the most rapid in 2020 when imports increased by 87%. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, France (X tons) constituted the largest lubricant additives supplier to Belgium, with a 49% share of total imports. Moreover, lubricant additives imports from France exceeded the figures recorded by the second-largest supplier, the United States (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+2.9% per year) and Italy (+0.8% per year).

In value terms, the largest lubricant additives suppliers to Belgium were France ($X), the United States ($X) and Italy ($X), together accounting for 79% of total imports. These countries were followed by Germany, the Netherlands, Mexico, the UK and Singapore, which together accounted for a further 18%.

In terms of the main suppliers, Singapore, with a CAGR of +76.5%, 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 lubricant additives import price stood at $X per ton in 2021, with a decrease of -9.7% against the previous year. Overall, the import price continues to indicate a pronounced decrease. The growth pace was the most rapid in 2016 when the average import price increased by 13% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+1.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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