Czech Republic: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in the Czech Republic

In 2021, the Czech lubricating oil additive market decreased by -9.2% to $X for the first time since 2017, thus ending a three-year rising trend. In general, the total consumption indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +5.8% against 2016 indices. Over the period under review, the market hit record highs at $X in 2020, and then declined in the following year.

Lubricating Oil Additive Production in the Czech Republic

In value terms, lubricating oil additive production contracted to $X in 2021 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +5.4% against 2016 indices. The growth pace was the most rapid in 2016 when the production volume increased by 68% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Lubricating Oil Additive Exports

Exports from the Czech Republic

In 2021, the amount of additives for lubricating oils exported from the Czech Republic dropped modestly to X tons, approximately mirroring 2020. Over the period under review, exports continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2013 with an increase of 133%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, lubricating oil additive exports skyrocketed to $X in 2021. Overall, exports, however, enjoyed a notable expansion. The pace of growth appeared the most rapid in 2013 with an increase of 99%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X tons), Slovakia (X tons) and Russia (X tons) were the main destinations of lubricating oil additive exports from the Czech Republic, together accounting for 72% of total exports. Germany, Ireland, Spain, Italy and China lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ireland (with a CAGR of +222.8%), while the other leaders experienced more modest paces of growth.

In value terms, Slovakia ($X) remains the key foreign market for additives for lubricating oils exports from the Czech Republic, comprising 38% of total exports. The second position in the ranking was taken by Poland ($X), with a 17% share of total exports. It was followed by Germany, with a 14% share.

From 2012 to 2021, the average annual growth rate of value to Slovakia stood at +20.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+30.5% per year) and Germany (+2.9% per year).

Export Prices by Country

In 2021, the average lubricating oil additive export price amounted to $X per ton, with an increase of 18% against the previous year. In general, the export price enjoyed a prominent increase. The most prominent rate of growth was recorded in 2016 an increase of 80% against the previous year. The export price peaked in 2021 and is expected to retain 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 China ($X per ton), while the average price for exports to Russia ($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 China (+52.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports into the Czech Republic

In 2021, imports of additives for lubricating oils into the Czech Republic declined notably to X tons, reducing by -18% on 2020. Overall, imports continue to indicate a mild slump. The most prominent rate of growth was recorded in 2015 when imports increased by 14%. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, lubricating oil additive imports fell to $X in 2021. In general, imports saw a slight reduction. The most prominent rate of growth was recorded in 2017 when imports increased by 12%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of lubricating oil additive to the Czech Republic, accounting for a 51% share of total imports. Moreover, lubricating oil additive imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The UK (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France totaled -1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.2% per year) and the UK (+22.0% per year).

In value terms, France ($X), Germany ($X) and the UK ($X) appeared to be the largest lubricating oil additive suppliers to the Czech Republic, together accounting for 82% of total imports. The Netherlands, Poland, Slovakia, Italy, Latvia and Hungary lagged somewhat behind, together comprising a further 13%.

In terms of the main suppliers, Slovakia, with a CAGR of +34.1%, recorded 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 lubricating oil additive import price stood at $X per ton in 2021, picking up by 6.7% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 9% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+19.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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