Benelux: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Benelux

In 2021, the Benelux lubricating oil additive market increased by 17% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, saw a perceptible reduction. The level of consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Lubricating Oil Additive Production in Benelux

In value terms, lubricating oil additive production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 58% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Lubricating Oil Additive Exports

Exports in Benelux

In 2021, overseas shipments of additives for lubricating oils increased by 13% to X tons, rising for the fifth consecutive year after two years of decline. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2020 when exports increased by 196% against the previous year. The volume of export peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, lubricating oil additive exports soared to $X in 2021. Over the period under review, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 190% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

Exports by Country

Belgium represented the largest exporting country with an export of about X tons, which resulted at 83% of total exports. It was distantly followed by the Netherlands (X tons), constituting a 17% share of total exports.

Belgium was also the fastest-growing in terms of the additives for lubricating oils exports, with a CAGR of +48.4% from 2012 to 2021. At the same time, the Netherlands (+2.5%) displayed positive paces of growth. From 2012 to 2021, the share of Belgium increased by +68 percentage points.

In value terms, Belgium ($X) remains the largest lubricating oil additive supplier in Benelux, comprising 81% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 19% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Belgium totaled +40.5%.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2021, growing by 4.2% against the previous year. Over the period under review, the export price, however, showed a mild curtailment. The growth pace was the most rapid in 2013 an increase of 8.8%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-0.1%).

Lubricating Oil Additive Imports

Imports in Benelux

Lubricating oil additive imports soared to X tons in 2021, increasing by 21% compared with the previous year's figure. In general, imports continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 68%. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, lubricating oil additive imports skyrocketed to $X in 2021. Total imports indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.8% against 2019 indices. The growth pace was the most rapid in 2020 with an increase of 52% against the previous year. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

In 2021, Belgium (X tons) represented the key importer of additives for lubricating oils, comprising 76% of total imports. It was distantly followed by the Netherlands (X tons), achieving a 24% share of total imports.

Belgium was also the fastest-growing in terms of the additives for lubricating oils imports, with a CAGR of +4.8% from 2012 to 2021. At the same time, the Netherlands (+1.6%) displayed positive paces of growth. Belgium (+5.4 p.p.) significantly strengthened its position in terms of the total imports, while the Netherlands saw its share reduced by -5.4% from 2012 to 2021, respectively.

In value terms, Belgium ($X) constitutes the largest market for imported additives for lubricating oils in Benelux, comprising 71% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 29% share of total imports.

In Belgium, lubricating oil additive imports expanded at an average annual rate of +1.5% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Benelux amounted to $X per ton, with a decrease of -4.8% against the previous year. Overall, the import price showed a noticeable contraction. The most prominent rate of growth was recorded in 2014 when the import price increased by 6.7%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (-0.3%).

Source: IndexBox Platform