Croatia: Lubricant Additives Market 2024

Lubricant Additives Market Size in Croatia

The Croatian lubricant additives market surged to $X in 2021, jumping by 2,359% against the previous year. Over the period under review, consumption continues to indicate significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Lubricant Additives Production in Croatia

In value terms, lubricant additives production soared to $X in 2021 estimated in export price. In general, production posted a significant increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 105%. Over the period under review, production reached the peak level in 2021 and is expected to retain growth in years to come.

Lubricant Additives Exports

Exports from Croatia

In 2021, after two years of decline, there was significant growth in shipments abroad of prepared additives for mineral oils, when their volume increased by 7.6% to X tons. In general, exports showed a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 68%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, lubricant additives exports surged to $X in 2021. Overall, exports saw a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 60%. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for lubricant additives exports from Croatia, with a 33% share of total exports. Moreover, lubricant additives exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Slovenia (X tons), twofold. North Macedonia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Bosnia and Herzegovina totaled +27.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (+199.5% per year) and North Macedonia (+41.2% per year).

In value terms, the largest markets for lubricant additives exported from Croatia were Bosnia and Herzegovina ($X), Slovenia ($X) and North Macedonia ($X), together accounting for 67% of total exports. Serbia, the Netherlands, Italy, Kosovo, Hungary, Austria and Romania lagged somewhat behind, together accounting for a further 24%.

In terms of the main countries of destination, the Netherlands, with a CAGR of +658.2%, saw the highest growth rate of 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 lubricant additives export price stood at $X per ton in 2021, growing by 27% against the previous year. Over the period under review, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lubricant additives export price increased by +69.3% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Hungary ($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 Kosovo (+18.5%), while the prices for the other major destinations experienced mixed trend patterns.

Lubricant Additives Imports

Imports into Croatia

In 2021, supplies from abroad of prepared additives for mineral oils increased by 13% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, continue to indicate a mild shrinkage. The pace of growth was the most pronounced in 2015 when imports increased by 38%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, lubricant additives imports skyrocketed to $X in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Belgium (X tons), France (X tons) and Slovenia (X tons) were the main suppliers of lubricant additives imports to Croatia, together accounting for 55% of total imports.

From 2012 to 2021, the biggest increases were recorded for Slovenia (with a CAGR of +27.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), France ($X) and Germany ($X) were the largest lubricant additives suppliers to Croatia, together accounting for 63% of total imports. The Netherlands, Hungary, Slovenia, Italy, the United States and Austria lagged somewhat behind, together comprising a further 28%.

Slovenia, with a CAGR of +15.8%, saw the highest growth rate of the value of imports, among the main suppliers 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, rising by 18% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 the United States ($X per ton), while the price for Slovenia ($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 (+7.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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