Italy: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Italy

The Italian lubricating oil additive market reduced to $X in 2021, waning by -10.5% against the previous year. Over the period under review, consumption continues to indicate a slight reduction. Lubricating oil additive consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Lubricating Oil Additive Production in Italy

In value terms, lubricating oil additive production contracted to $X in 2021 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 13% against the previous year. Lubricating oil additive production peaked at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Lubricating Oil Additive Exports

Exports from Italy

Lubricating oil additive exports from Italy expanded modestly to X tons in 2021, increasing by 4.6% compared with the previous year's figure. The total export volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 9.5% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, lubricating oil additive exports amounted to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X tons), France (X tons) and Germany (X tons) were the main destinations of lubricating oil additive exports from Italy, with a combined 34% share of total exports. These countries were followed by the United States, Russia, China, Spain, Turkey, the Netherlands, Brazil, the United Arab Emirates, Saudi Arabia and Finland, which together accounted for a further 45%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +20.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricating oil additive exported from Italy were France ($X), Belgium ($X) and Germany ($X), with a combined 38% share of total exports. The United States, Russia, Spain, China, the Netherlands, Turkey, Brazil, the United Arab Emirates, Finland and Saudi Arabia lagged somewhat behind, together accounting for a further 42%.

Russia, with a CAGR of +20.1%, saw the highest growth rate of the value of exports, in terms of 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

The average lubricating oil additive export price stood at $X per ton in 2021, picking up by 4.9% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to France ($X per ton) and Spain ($X per ton), while the average price for exports to Brazil ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to France (+1.4%), while the prices for the other major destinations experienced a decline.

Lubricating Oil Additive Imports

Imports into Italy

In 2021, overseas purchases of additives for lubricating oils decreased by -1.2% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 7.1% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, lubricating oil additive imports rose markedly to $X in 2021. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 17% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, France (X tons) constituted the largest lubricating oil additive supplier to Italy, accounting for a 70% share of total imports. Moreover, lubricating oil additive imports from France exceeded the figures recorded by the second-largest supplier, South Korea (X tons), tenfold. The third position in this ranking was held by Belgium (X tons), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume from France was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+57.3% per year) and Belgium (-0.3% per year).

In value terms, France ($X) constituted the largest supplier of additives for lubricating oils to Italy, comprising 67% of total imports. The second position in the ranking was held by the United States ($X), with a 7.3% share of total imports. It was followed by Belgium, with a 6.3% share.

From 2012 to 2021, the average annual growth rate of value from France stood at -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.2% per year) and Belgium (-1.7% per year).

Import Prices by Country

The average lubricating oil additive import price stood at $X per ton in 2021, growing by 11% against the previous year. Over the period under review, the import price, however, showed a slight shrinkage. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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