EU: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in the EU

In 2021, the EU lubricating oil additive market decreased by -11% to $X, falling for the third year in a row after three years of growth. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Lubricating Oil Additive Production in the EU

In value terms, lubricating oil additive production shrank slightly to $X in 2021 estimated in export price. Overall, production recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the production volume increased by 8%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Lubricating Oil Additive Exports

Exports in the EU

For the third consecutive year, the European Union recorded growth in overseas shipments of additives for lubricating oils, which increased by 12% to X tons in 2021. The total export volume increased at an average annual rate of +3.4% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, lubricating oil additive exports surged to $X in 2021. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

France represented the main exporter of additives for lubricating oils in the European Union, with the volume of exports reaching X tons, which was near 49% of total exports in 2021. Italy (X tons) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (17%) and Germany (6.8%). The Netherlands (X tons) took a relatively small share of total exports.

France experienced a relatively flat trend pattern with regard to volume of exports of additives for lubricating oils. At the same time, Belgium (+48.4%), Germany (+3.7%), the Netherlands (+2.5%) and Italy (+1.4%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +48.4% from 2012-2021. While the share of Belgium (+16 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Italy (-4.2 p.p.) and France (-12.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X) remains the largest lubricating oil additive supplier in the European Union, comprising 45% of total exports. The second position in the ranking was held by Italy ($X), with a 22% share of total exports. It was followed by Belgium, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value in France was relatively modest. In the other countries, the average annual rates were as follows: Italy (+0.6% per year) and Belgium (+40.5% per year).

Export Prices by Country

In 2021, the export price in the European Union amounted to $X per ton, with an increase of 4.4% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 11%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.5%), while the other leaders experienced a decline in the export price figures.

Lubricating Oil Additive Imports

Imports in the EU

Lubricating oil additive imports reached X tons in 2021, surging by 7% on the previous year's figure. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 14%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, lubricating oil additive imports expanded rapidly to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 when imports increased by 11% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

The purchases of the four major importers of additives for lubricating oils, namely Belgium, Germany, France and Italy, represented more than two-thirds of total import. The Netherlands (X tons) took an 8.8% share (based on physical terms) of total imports, which put it in second place, followed by Spain (5.3%). Finland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +4.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricating oil additive importing markets in the European Union were Belgium ($X), Germany ($X) and France ($X), with a combined 62% share of total imports.

In terms of the main importing countries, France, with a CAGR of +3.1%, recorded 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

In 2021, the import price in the European Union amounted to $X per ton, growing by 2% against the previous year. Overall, the import price, however, showed a mild setback. The pace of growth was the most pronounced in 2018 an increase of 8.5% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in France ($X per ton) and Spain ($X per ton), while Belgium ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+1.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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