Denmark: Lubricant Additives Market 2024

Lubricant Additives Market Size in Denmark

In 2021, after two years of growth, there was significant decline in the Danish lubricant additives market, when its value decreased by -42.4% to $X. Overall, consumption showed a abrupt decline. The most prominent rate of growth was recorded in 2019 with an increase of 7.1% against the previous year. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Lubricant Additives Production in Denmark

In value terms, lubricant additives production expanded rapidly to $X in 2021 estimated in export price. In general, production, however, recorded significant growth. The pace of growth was the most pronounced in 2015 with an increase of 5,028% against the previous year. Lubricant additives production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Lubricant Additives Exports

Exports from Denmark

In 2021, overseas shipments of prepared additives for mineral oils decreased by -6.6% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 25% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, lubricant additives exports expanded remarkably to $X in 2021. Over the period under review, exports recorded a perceptible descent. The most prominent rate of growth was recorded in 2017 with an increase of 25% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons), France (X tons) and South Africa (X tons) were the main destinations of lubricant additives exports from Denmark, together comprising 30% of total exports. These countries were followed by Israel, Norway, Ireland, Poland, China, Germany, Belgium, Peru, the UK and Thailand, which together accounted for a further 46%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +44.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricant additives exported from Denmark were Germany ($X), France ($X) and Sweden ($X), together comprising 31% of total exports. Belgium, South Africa, Israel, China, the UK, Norway, Ireland, Poland, Peru and Thailand lagged somewhat behind, together accounting for a further 48%.

Among the main countries of destination, Peru, with a CAGR of +40.1%, 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

In 2021, the average lubricant additives export price amounted to $X per ton, growing by 15% against the previous year. Over the period under review, the export price, however, recorded a mild descent. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Norway ($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 Germany (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Denmark

In 2021, imports of prepared additives for mineral oils into Denmark contracted to X tons, with a decrease of -11.1% on 2020 figures. Over the period under review, total imports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +18.8% against 2019 indices. The pace of growth was the most pronounced in 2020 when imports increased by 34% against the previous year. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, lubricant additives imports fell to $X in 2021. Overall, imports saw a pronounced curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 17% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest lubricant additives supplier to Denmark, accounting for a 71% share of total imports. Moreover, lubricant additives imports from Germany exceeded the figures recorded by the second-largest supplier, the United States (X tons), fivefold. The third position in this ranking was held by France (X tons), with a 6.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +24.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-10.1% per year) and France (-3.1% per year).

In value terms, the largest lubricant additives suppliers to Denmark were Germany ($X), the United States ($X) and France ($X), with a combined 82% share of total imports. Sweden, Italy, the UK and Norway lagged somewhat behind, together accounting for a further 12%.

Among the main suppliers, Italy, with a CAGR of +25.0%, saw 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 lubricant additives import price stood at $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the import price, however, continues to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2019 an increase of 10%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Germany ($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 (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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