Eastern Europe: Lubricant Additives Market 2024

Lubricant Additives Market Size in Eastern Europe

In 2021, the East European lubricant additives market increased by 6.3% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Lubricant Additives Production in Eastern Europe

In value terms, lubricant additives production reduced to $X in 2021 estimated in export price. In general, production, however, showed a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 36%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Lubricant Additives Exports

Exports in Eastern Europe

In 2021, after two years of decline, there was significant growth in shipments abroad of prepared additives for mineral oils, when their volume increased by 15% to X tons. Overall, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by 826%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, lubricant additives exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 287%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belarus was the major exporter of prepared additives for mineral oils in Eastern Europe, with the volume of exports reaching X tons, which was approx. 50% of total exports in 2021. Russia (X tons) ranks second in terms of the total exports with a 27% share, followed by Slovakia (7.5%) and Latvia (6.5%). Hungary (X tons), Poland (X tons) and Lithuania (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Latvia (with a CAGR of +34.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belarus ($X), Russia ($X) and Slovakia ($X) appeared to be the countries with the highest levels of exports in 2021, together comprising 77% of total exports. Poland, Latvia, Hungary and Lithuania lagged somewhat behind, together comprising a further 19%.

Latvia, with a CAGR of +25.2%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, surging by 4.5% against the previous year. In general, the export price, however, saw a slight contraction. The most prominent rate of growth was recorded in 2019 an increase of 123%. Over the period under review, the export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Lithuania (+5.6%), while the other leaders experienced more modest paces of growth.

Lubricant Additives Imports

Imports in Eastern Europe

For the sixth year in a row, Eastern Europe recorded growth in purchases abroad of prepared additives for mineral oils, which increased by 4% to X tons in 2021. Total imports indicated a buoyant expansion from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +19.4% against 2014 indices. The pace of growth was the most pronounced in 2014 when imports increased by 39% against the previous year. The volume of import peaked in 2021 and is likely to see steady growth in the immediate term.

In value terms, lubricant additives imports reached $X in 2021. The total import value increased at an average annual rate of +5.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia represented the major importer of prepared additives for mineral oils in Eastern Europe, with the volume of imports recording X tons, which was near 52% of total imports in 2021. Poland (X tons) held a 20% share (based on physical terms) of total imports, which put it in second place, followed by Hungary (5.9%), Belarus (5.9%) and Romania (4.5%). Lithuania (X tons) and the Czech Republic (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to lubricant additives imports into Russia stood at +8.1%. At the same time, Belarus (+13.0%), Hungary (+11.5%), Poland (+9.8%), Lithuania (+4.6%) and Romania (+2.4%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +13.0% from 2012-2021. By contrast, the Czech Republic (-4.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Russia, Poland, Belarus and Hungary increased by +6, +4.7, +2.4 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported prepared additives for mineral oils in Eastern Europe, comprising 53% of total imports. The second position in the ranking was taken by Poland ($X), with a 21% share of total imports. It was followed by Lithuania, with a 4.9% share.

In Russia, lubricant additives imports increased at an average annual rate of +5.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Poland (+8.4% per year) and Lithuania (+4.6% per year).

Import Prices by Country

In 2021, the import price in Eastern Europe amounted to $X per ton, growing by 8.5% against the previous year. Overall, the import price, however, recorded a slight decline. The pace of growth was the most pronounced in 2015 an increase of 19%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+2.5%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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