Egypt: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Egypt

In 2022, the Egyptian market for processed petroleum oils and distillates increased by 29% to $X, rising for the third year in a row after three years of decline. Overall, consumption, however, recorded a perceptible decrease. Processed petroleum oils and distillates consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Processed Petroleum Oils and Distillates in Egypt

In value terms, processed petroleum oils and distillates production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt decrease. The pace of growth was the most pronounced in 2020 when the production volume increased by 11% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports from Egypt

In 2022, exports of processed petroleum oils and distillates from Egypt declined sharply to X tons, dropping by -25% compared with the previous year's figure. In general, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 108% against the previous year. As a result, the exports reached the peak of X tons, and then fell significantly in the following year.

In value terms, processed petroleum oils and distillates exports shrank markedly to $X in 2022. Over the period under review, exports recorded a abrupt descent. The most prominent rate of growth was recorded in 2021 when exports increased by 108% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Greece (X tons) and Slovenia (X tons) were the main destinations of processed petroleum oils and distillates exports from Egypt, with a combined 26% share of total exports. Italy, Japan, France, China, Morocco, Turkey and Singapore lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of +79.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for processed petroleum oils and distillates exported from Egypt were Slovenia ($X), Italy ($X) and France ($X), together accounting for 24% of total exports. Morocco, Greece, Turkey, the United States, Japan, China and Singapore lagged somewhat behind, together accounting for a further 34%.

Morocco, with a CAGR of +38.4%, recorded 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, remaining relatively unchanged against the previous year. Over the period under review, the export price continues to indicate a dramatic downturn. The pace of growth appeared the most rapid in 2020 when the average export price increased by 29% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to the United States ($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 Slovenia (-19.3%), while the prices for the other major destinations experienced a decline.

Imports of Processed Petroleum Oils and Distillates

Imports into Egypt

In 2022, overseas purchases of processed petroleum oils and distillates increased by 63% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports saw a strong increase. The growth pace was the most rapid in 2021 when imports increased by 315%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, processed petroleum oils and distillates imports surged to $X in 2022. In general, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 510%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the near future.

Imports by Country

India (X tons), Italy (X tons) and Bulgaria (X tons) were the main suppliers of processed petroleum oils and distillates imports to Egypt, together comprising 49% of total imports.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of +42.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), Italy ($X) and Bulgaria ($X) were the largest processed petroleum oils and distillates suppliers to Egypt, with a combined 47% share of total imports.

Bulgaria, with a CAGR of +34.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

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. Over the period under review, the import price, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2017 an increase of 49% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, 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 Netherlands ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (-1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :