Denmark: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Denmark

The Danish lubricating oil additive market fell remarkably to $X in 2021, waning by -97.3% against the previous year. Overall, consumption faced a sharp downturn. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Lubricating Oil Additive Production in Denmark

In value terms, lubricating oil additive production shrank rapidly to $X in 2021 estimated in export price. Over the period under review, production faced a sharp reduction. The pace of growth appeared the most rapid in 2018 when the production volume increased by 33,945% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Lubricating Oil Additive Exports

Exports from Denmark

In 2021, approx. X tons of additives for lubricating oils were exported from Denmark; increasing by 52% against the previous year's figure. Over the period under review, exports saw a tangible increase. The pace of growth was the most pronounced in 2017 with an increase of 78%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, lubricating oil additive exports soared to $X in 2021. In general, exports enjoyed resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Switzerland (X tons) and Sweden (X tons) were the main destinations of lubricating oil additive exports from Denmark, with a combined 94% share of total exports. These countries were followed by the UK and Italy, which together accounted for a further 3.7%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +108.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Switzerland ($X) and Sweden ($X) were the largest markets for lubricating oil additive exported from Denmark worldwide, with a combined 91% share of total exports. The UK and Italy lagged somewhat behind, together comprising a further 4.2%.

Among the main countries of destination, the UK, with a CAGR of +128.1%, recorded 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

The average lubricating oil additive export price stood at $X per ton in 2021, picking up by 28% against the previous year. Overall, export price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +10.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 an increase of 63% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Sweden ($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 Italy (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports into Denmark

In 2021, after two years of growth, there was significant decline in overseas purchases of additives for lubricating oils, when their volume decreased by -13.9% to X tons. In general, imports, however, posted a temperate increase. The most prominent rate of growth was recorded in 2017 when imports increased by 153% against the previous year. Over the period under review, imports hit record highs at X tons in 2020, and then reduced in the following year.

In value terms, lubricating oil additive imports amounted to $X in 2021. Overall, imports, however, enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2017 with an increase of 148% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, Sweden (X tons) constituted the largest lubricating oil additive supplier to Denmark, with a 84% share of total imports. Moreover, lubricating oil additive imports from Sweden exceeded the figures recorded by the second-largest supplier, France (X tons), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Sweden stood at +29.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-13.2% per year) and Germany (-6.5% per year).

In value terms, Sweden ($X) constituted the largest supplier of additives for lubricating oils to Denmark, comprising 74% of total imports. The second position in the ranking was held by France ($X), with a 14% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Sweden stood at +27.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-9.5% per year) and Germany (-5.5% per year).

Import Prices by Country

In 2021, the average lubricating oil additive import price amounted to $X per ton, jumping by 22% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 24% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+4.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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