Czech Republic: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in the Czech Republic

For the third consecutive year, the Czech market for processed petroleum oils and distillates recorded growth in sales value, which increased by 22% to $X in 2022. The market value increased at an average annual rate of +2.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Processed Petroleum Oils and Distillates in the Czech Republic

In value terms, processed petroleum oils and distillates production reduced slightly to $X in 2022 estimated in export price. Overall, production, however, saw a perceptible curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 17% against the previous year. Processed petroleum oils and distillates production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports from the Czech Republic

In 2022, the amount of processed petroleum oils and distillates exported from the Czech Republic declined notably to X tons, which is down by -22.3% against the previous year. Over the period under review, total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +4.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 34% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, processed petroleum oils and distillates exports soared to $X in 2022. Overall, total exports indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +124.0% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 87%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

Slovakia (X tons), Germany (X tons) and Poland (X tons) were the main destinations of processed petroleum oils and distillates exports from the Czech Republic, together accounting for 82% of total exports. Hungary, Ukraine and Austria lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ukraine (with a CAGR of +50.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for processed petroleum oils and distillates exported from the Czech Republic were Slovakia ($X), Germany ($X) and Poland ($X), together comprising 81% of total exports. Hungary, Ukraine and Austria lagged somewhat behind, together accounting for a further 14%.

Among the main countries of destination, Ukraine, with a CAGR of +37.6%, 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 2022, the average export price for processed petroleum oils and distillates amounted to $X per ton, picking up by 54% against the previous year. Overall, the export price showed modest growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Ukraine ($X per ton) and Germany ($X per ton), while the average price for exports to Poland ($X per ton) and Austria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+3.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into the Czech Republic

For the third year in a row, the Czech Republic recorded growth in purchases abroad of processed petroleum oils and distillates, which increased by 46% to X tons in 2022. Overall, imports enjoyed strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 63% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, processed petroleum oils and distillates imports soared to $X in 2022. In general, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +139.3% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 63% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of processed petroleum oils and distillates to the Czech Republic, accounting for a 64% share of total imports. Moreover, processed petroleum oils and distillates imports from Germany exceeded the figures recorded by the second-largest supplier, Slovakia (X tons), threefold. The third position in this ranking was taken by Austria (X tons), with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (+6.5% per year) and Austria (+2.3% per year).

In value terms, Germany ($X) constituted the largest supplier of processed petroleum oils and distillates to the Czech Republic, comprising 64% of total imports. The second position in the ranking was held by Slovakia ($X), with a 21% share of total imports. It was followed by Austria, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Slovakia (-2.8% per year) and Austria (-5.8% per year).

Import Prices by Country

In 2022, the average import price for processed petroleum oils and distillates amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the import price, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2018 when the average import price increased by 26%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Austria ($X per ton) and Germany ($X per ton), while the price for Slovakia ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (-7.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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