Benelux: Lubricant Additives Market 2024

Lubricant Additives Market Size in Benelux

In 2021, the Benelux lubricant additives market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, showed a perceptible setback. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Lubricant Additives Production in Benelux

In value terms, lubricant additives production skyrocketed to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Lubricant Additives Exports

Exports in Benelux

In 2021, overseas shipments of prepared additives for mineral oils increased by 9.7% to X tons, rising for the fifth year in a row after four years of decline. In general, exports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 161% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, lubricant additives exports skyrocketed to $X in 2021. Over the period under review, exports saw a buoyant expansion. The pace of growth was the most pronounced in 2020 with an increase of 150% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

In 2021, Belgium (X tons) was the key exporter of prepared additives for mineral oils, mixing up 81% of total exports. It was distantly followed by the Netherlands (X tons), constituting a 19% share of total exports.

Belgium was also the fastest-growing in terms of the prepared additives for mineral oils exports, with a CAGR of +12.3% from 2012 to 2021. The Netherlands (-2.7%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Belgium increased by +27 percentage points.

In value terms, Belgium ($X) remains the largest lubricant additives supplier in Benelux, comprising 79% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 21% share of total exports.

In Belgium, lubricant additives exports expanded at an average annual rate of +12.1% over the period from 2012-2021.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2021, growing by 6.3% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2013 when the export price increased by 18%. The level of export peaked at $X per ton in 2014; however, from 2015 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 totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.6%).

Lubricant Additives Imports

Imports in Benelux

Lubricant additives imports skyrocketed to X tons in 2021, rising by 22% compared with 2020. Total imports indicated a notable increase from 2012 to 2021: its volume increased at an average annual rate of +2.5% 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 +83.1% against 2018 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 50%. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, lubricant additives imports surged to $X in 2021. Total imports indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.0% 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 +58.9% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 36%. The level of import peaked in 2021 and is expected to retain growth in years to come.

Imports by Country

Belgium represented the largest importer of prepared additives for mineral oils in Benelux, with the volume of imports amounting to X tons, which was near 74% of total imports in 2021. It was distantly followed by the Netherlands (X tons), making up a 26% share of total imports.

Belgium was also the fastest-growing in terms of the prepared additives for mineral oils imports, with a CAGR of +4.2% from 2012 to 2021. The Netherlands experienced a relatively flat trend pattern. Belgium (+9.8 p.p.) significantly strengthened its position in terms of the total imports, while the Netherlands saw its share reduced by -9.4% from 2012 to 2021, respectively.

In value terms, Belgium ($X) constitutes the largest market for imported prepared additives for mineral oils in Benelux, comprising 67% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 32% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Belgium amounted to +1.3%.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2021, reducing by -3.9% against the previous year. Overall, the import price saw a slight shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 11% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, 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 (+1.3%).

Source: IndexBox Platform