France: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in France

In 2022, the French market for processed petroleum oils and distillates increased by 14% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, continues to indicate a noticeable contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Processed Petroleum Oils and Distillates in France

In value terms, processed petroleum oils and distillates production declined to $X in 2022 estimated in export price. In general, production saw a abrupt contraction. The most prominent rate of growth was recorded in 2021 when the production volume increased by 34%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports from France

In 2022, overseas shipments of processed petroleum oils and distillates increased by 12% to X tons, rising for the second consecutive year after five years of decline. In general, exports, however, saw a noticeable descent. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, processed petroleum oils and distillates exports skyrocketed to $X in 2022. Overall, exports, however, saw a noticeable contraction. The pace of growth appeared the most rapid in 2021 with an increase of 61%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons), Belgium (X tons) and the United States (X tons) were the main destinations of processed petroleum oils and distillates exports from France, with a combined 46% share of total exports. Germany, Spain, Switzerland, the UK, Greece, Denmark, Luxembourg, Nigeria, Lebanon and Algeria lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Denmark (with a CAGR of +28.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the Netherlands ($X) and Germany ($X) were the largest markets for processed petroleum oils and distillates exported from France worldwide, together accounting for 41% of total exports. The United States, Switzerland, the UK, Spain, Greece, Luxembourg, Denmark, Nigeria, Lebanon and Algeria lagged somewhat behind, together comprising a further 31%.

Denmark, with a CAGR of +26.1%, recorded the highest growth rate of the value of exports, among 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, with an increase of 35% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 55%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Denmark ($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 Algeria (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into France

In 2022, purchases abroad of processed petroleum oils and distillates increased by 46% to X tons, rising for the third year in a row after three years of decline. In general, imports posted strong growth. The pace of growth was the most pronounced in 2021 with an increase of 53% against the previous year. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, processed petroleum oils and distillates imports skyrocketed to $X in 2022. Overall, imports, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2021 with an increase of 53%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and Spain (X tons) were the main suppliers of processed petroleum oils and distillates imports to France, with a combined 49% share of total imports. Germany, Italy, India, the United States, Singapore, the UK and Sweden lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +27.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Belgium ($X) and Spain ($X) constituted the largest processed petroleum oils and distillates suppliers to France, together comprising 51% of total imports. Germany, Italy, India, the United States, Singapore, the UK and Sweden lagged somewhat behind, together comprising a further 42%.

Germany, with a CAGR of +15.9%, recorded 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, remaining stable against the previous year. In general, the import price, however, continues to indicate a abrupt decline. The growth pace was the most rapid in 2017 when the average import price increased by 28%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Germany ($X per ton), while the price for the United States ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (-7.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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