Denmark: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Denmark

The Danish market for processed petroleum oils and distillates skyrocketed to $X in 2022, increasing by 51% against the previous year. In general, the total consumption indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +73.5% against 2020 indices. 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 Denmark

In value terms, processed petroleum oils and distillates production reduced to $X in 2022 estimated in export price. Overall, production showed a perceptible shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by 21%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports from Denmark

In 2022, exports of processed petroleum oils and distillates from Denmark contracted remarkably to X tons, falling by -21.2% compared with 2021 figures. Overall, exports recorded a drastic downturn. The pace of growth appeared the most rapid in 2015 when exports increased by 11%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, processed petroleum oils and distillates exports soared to $X in 2022. In general, exports showed a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of 65% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), Sweden (X tons) and the UK (X tons) were the main destinations of processed petroleum oils and distillates exports from Denmark, together accounting for 76% of total exports. Norway, the United States, Belgium and Germany lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +9.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for processed petroleum oils and distillates exported from Denmark were Sweden ($X), the Netherlands ($X) and Norway ($X), together comprising 73% of total exports. The UK, the United States, Germany and Belgium lagged somewhat behind, together comprising a further 22%.

Belgium, with a CAGR of +11.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination 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, surging by 47% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 58%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+4.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into Denmark

In 2022, supplies from abroad of processed petroleum oils and distillates increased by 87% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports surged to $X in 2022. Over the period under review, imports continue to indicate moderate growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Sweden (X tons), the Netherlands (X tons) and the UK (X tons) were the main suppliers of processed petroleum oils and distillates imports to Denmark, together accounting for 59% of total imports. France, the United States, Belgium, Norway, Finland, Estonia, Germany and Poland lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +48.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest processed petroleum oils and distillates suppliers to Denmark were Sweden ($X), the Netherlands ($X) and the UK ($X), with a combined 61% share of total imports. Belgium, France, Norway, the United States, Finland, Estonia, Germany and Poland lagged somewhat behind, together accounting for a further 30%.

The United States, with a CAGR of +38.8%, recorded the highest rates of growth with regard to 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 import price for processed petroleum oils and distillates stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the import price saw a deep contraction. The most prominent rate of growth was recorded in 2018 when the average import price increased by 17%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-3.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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