Europe: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Europe

In 2021, the Europe lubricating oil additive market decreased by -7.7% to $X, falling for the third year in a row after three years of growth. Overall, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Lubricating Oil Additive Production in Europe

In value terms, lubricating oil additive production amounted to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 10%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Lubricating Oil Additive Exports

Exports in Europe

In 2021, lubricating oil additive exports in Europe expanded markedly to X tons, growing by 11% compared with the previous year's figure. The total export volume increased at an average annual rate of +3.7% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded 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 soared to $X in 2021. The total export value increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, France (X tons) was the key exporter of additives for lubricating oils, committing 46% of total exports. Italy (X tons) held a 21% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (16%) and Germany (6.5%). The following exporters - the Netherlands (X tons) and Belarus (X tons) - each finished at a 6.5% 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%), Belarus (+13.3%), 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 Europe, with a CAGR of +48.4% from 2012-2021. From 2012 to 2021, the share of Belgium and Belarus increased by +16 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X) remains the largest lubricating oil additive supplier in Europe, comprising 43% of total exports. The second position in the ranking was held by Italy ($X), with a 21% share of total exports. It was followed by Belgium, with a 17% share.

In France, lubricating oil additive exports remained relatively stable over the period from 2012-2021. 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 Europe amounted to $X per ton, picking up by 5.3% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 10%. The level of export peaked 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 Germany ($X per ton), while Belarus ($X per ton) was amongst the lowest.

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

Lubricating Oil Additive Imports

Imports in Europe

In 2021, the amount of additives for lubricating oils imported in Europe rose sharply to X tons, increasing by 5.8% on the previous year's figure. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 12%. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, lubricating oil additive imports amounted to $X in 2021. The total import value increased at an average annual rate of +1.5% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2020 when imports increased by 10%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the near future.

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) held the next position in the ranking, followed by Russia (X tons) and Spain (X tons). All these countries together took near 20% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Russia (with a CAGR of +9.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricating oil additive importing markets in Europe were Belgium ($X), Germany ($X) and France ($X), with a combined 55% share of total imports. Italy, the Netherlands, Russia and Spain lagged somewhat behind, together accounting for a further 31%.

Russia, with a CAGR of +8.6%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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 Europe amounted to $X per ton, with an increase of 3.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 8.4%. 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