Israel: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Israel

The Israeli market for petroleum lubricating oil and grease rose significantly to $X in 2022, picking up by X% against the previous year. Over the period under review, the total consumption indicated a pronounced 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, consumption decreased by X% against 2020 indices. 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 Israel

In value terms, petroleum lubricating oil and grease production amounted to $X in 2022 estimated in export price. In general, the total production indicated a tangible expansion 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Petroleum lubricating oil and grease production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Petroleum Lubricating Oil And Grease

Exports from Israel

After two years of decline, overseas shipments of petroleum lubricating oil and grease increased by X% to X tons in 2022. Over the period under review, exports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2018 with an increase of X%. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, petroleum lubricating oil and grease exports soared to $X in 2022. In general, exports, however, recorded a perceptible slump. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons) was the main destination for petroleum lubricating oil and grease exports from Israel, accounting for a X% share of total exports. Moreover, petroleum lubricating oil and grease exports to Turkey exceeded the volume sent to the second major destination, Russia (X tons), ninefold.

From 2012 to 2022, the average annual growth rate of volume to Turkey amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and the UK (X% per year).

In value terms, Turkey ($X) remains the key foreign market for petroleum lubricating oil and grease exports from Israel, comprising X% of total exports. The second position in the ranking was held by Russia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (X% per year) and the UK (X% per year).

Export Prices by Country

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2022, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2018 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to the UK ($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 Russia (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Petroleum Lubricating Oil And Grease

Imports into Israel

Petroleum lubricating oil and grease imports into Israel stood at X tons in 2022, growing by X% against the year before. In general, total imports indicated a perceptible 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 pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, petroleum lubricating oil and grease imports soared 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 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Belgium (X tons) and France (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Israel, together accounting for X% of total imports. The UK, the United States, the Netherlands, Switzerland, Spain, Latvia, the United Arab Emirates, Turkey, Lithuania and Ireland lagged somewhat behind, together comprising a further X%.

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

In value terms, Germany ($X), Belgium ($X) and France ($X) constituted the largest petroleum lubricating oil and grease suppliers to Israel, together comprising X% of total imports. The UK, the United States, the Netherlands, Switzerland, Latvia, Spain, the United Arab Emirates, Lithuania, Turkey and Ireland lagged somewhat behind, together comprising a further X%.

Ireland, with a CAGR of X%, saw 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

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, increasing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Latvia ($X per ton) and the United Arab Emirates ($X per ton), while the price for Spain ($X per ton) and the United States ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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