Greece: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Greece

The Greek market for petroleum lubricating oil and grease dropped modestly to $X in 2022, falling by X% against the previous year. Over the period under review, consumption, however, saw a slight descent. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Production of Petroleum Lubricating Oil And Grease in Greece

In value terms, petroleum lubricating oil and grease production expanded notably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a noticeable shrinkage. The growth pace was the most rapid in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Greece

In 2022, approx. X tons of petroleum lubricating oil and grease were exported from Greece; picking up by X% compared with 2021 figures. Over the period under review, exports recorded a significant expansion. The growth pace was the most rapid in 2020 with an increase of X%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease exports skyrocketed to $X in 2022. Overall, exports enjoyed a strong increase. The pace of growth appeared the most rapid in 2020 when exports increased by X%. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Algeria (X tons) was the main destination for petroleum lubricating oil and grease exports from Greece, accounting for a X% share of total exports. Moreover, petroleum lubricating oil and grease exports to Algeria exceeded the volume sent to the second major destination, Cyprus (X tons), more than tenfold. Singapore (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Algeria stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (X% per year) and Singapore (X% per year).

In value terms, Algeria ($X) emerged as the key foreign market for petroleum lubricating oil and grease exports from Greece, comprising X% of total exports. The second position in the ranking was held by Cyprus ($X), with an X% share of total exports. It was followed by Singapore, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Algeria amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (X% per year) and Singapore (X% per year).

Export Prices by Country

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price, however, showed a noticeable decline. The pace of growth appeared the most rapid in 2017 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Albania ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Greece

In 2022, the amount of petroleum lubricating oil and grease imported into Greece declined remarkably to X tons, shrinking by X% against 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then reduced notably in the following year.

In value terms, petroleum lubricating oil and grease imports reduced to $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2021, and then contracted slightly in the following year.

Imports by Country

Germany (X tons), Italy (X tons) and the UK (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Greece, together accounting for X% of total imports. Belgium, France, Lithuania, the United States, the Netherlands, Bulgaria, Spain and Israel lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of petroleum lubricating oil and grease to Greece, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by the UK, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and the UK (X% per year).

Import Prices by Country

In 2022, the average import price for petroleum lubricating oil and grease amounted to $X per ton, jumping by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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