Guatemala: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Guatemala

The Guatemalan market for petroleum lubricating oil and grease rose sharply to $X in 2022, with an increase of X% against the previous year. In general, consumption enjoyed strong growth. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Petroleum Lubricating Oil And Grease in Guatemala

In value terms, petroleum lubricating oil and grease production expanded notably to $X in 2022 estimated in export price. Overall, production showed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Guatemala

Petroleum lubricating oil and grease exports from Guatemala was estimated at X tons in 2022, growing by X% against 2021 figures. Over the period under review, exports, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease exports rose remarkably to $X in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when exports increased by X%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belize (X tons), El Salvador (X tons) and Honduras (X tons) were the main destinations of petroleum lubricating oil and grease exports from Guatemala, together comprising X% of total exports. Nicaragua lagged somewhat behind, accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Nicaragua (with a CAGR of X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for petroleum lubricating oil and grease exported from Guatemala were Belize ($X), El Salvador ($X) and Honduras ($X), with a combined X% share of total exports. Nicaragua lagged somewhat behind, accounting for a further X%.

Among the main countries of destination, Nicaragua, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, export price indicated a prominent expansion from 2012 to 2022: its price 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, petroleum lubricating oil and grease export price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the average export price increased by X% against the previous year. 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was Nicaragua ($X per ton), while the average price for exports to Belize ($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 Honduras (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Guatemala

In 2022, the amount of petroleum lubricating oil and grease imported into Guatemala fell to X tons, declining by X% on 2021. Overall, total imports indicated a tangible increase 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. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, petroleum lubricating oil and grease imports totaled $X in 2022. In general, total imports indicated a resilient 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 most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

France (X tons), the United States (X tons) and Spain (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Guatemala, with a combined X% share of total imports. Mexico, China, Costa Rica, Brazil, Lithuania, Italy, Israel and El Salvador 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, the largest petroleum lubricating oil and grease suppliers to Guatemala were the United States ($X), France ($X) and Mexico ($X), together comprising X% of total imports. Spain, China, Costa Rica, Lithuania, Brazil, Israel, Italy and El Salvador lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Lithuania, with a CAGR of X%, saw 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

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, 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 ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform