Italy: Lubricant Additives Market 2024

Lubricant Additives Market Size in Italy

The Italian lubricant additives market declined to $X in 2021, waning by -9.9% against the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Lubricant Additives Production in Italy

In value terms, lubricant additives production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.1% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when the production volume increased by 12% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Lubricant Additives Exports

Exports from Italy

In 2021, exports of prepared additives for mineral oils from Italy rose to X tons, growing by 4.6% on 2020 figures. The total export volume increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2016 when exports increased by 9%. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, lubricant additives exports stood at $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Belgium (X tons), France (X tons) and Germany (X tons) were the main destinations of lubricant additives exports from Italy, together accounting for 34% of total exports. The United States, Russia, China, Spain, Turkey, the Netherlands, Brazil, the United Arab Emirates, Saudi Arabia and Finland lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +20.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Belgium ($X) and Germany ($X) constituted the largest markets for lubricant additives exported from Italy worldwide, together comprising 37% of total exports. These countries were followed by the United States, Russia, Spain, China, the Netherlands, Turkey, Brazil, the United Arab Emirates, Finland and Saudi Arabia, which together accounted for a further 42%.

Russia, with a CAGR of +20.0%, recorded the highest rates of growth with regard to 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 2021, the average lubricant additives export price amounted to $X per ton, increasing by 4.9% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign 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 (+0.9%), while the prices for the other major destinations experienced a decline.

Lubricant Additives Imports

Imports into Italy

In 2021, the amount of prepared additives for mineral oils imported into Italy was estimated at X tons, remaining stable against 2020 figures. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 14%. Over the period under review, imports attained the peak figure at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, lubricant additives imports expanded sharply to $X in 2021. In general, imports, however, continue to indicate a mild curtailment. The most prominent rate of growth was recorded in 2018 when imports increased by 19%. Over the period under review, imports reached the maximum 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 supplier of lubricant additives to Italy, accounting for a 67% share of total imports. Moreover, lubricant additives imports from France exceeded the figures recorded by the second-largest supplier, South Korea (X tons), tenfold. Belgium (X tons) ranked third in terms of total imports with a 6.2% 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 (+57.4% per year) and Belgium (+0.3% per year).

In value terms, France ($X) constituted the largest supplier of prepared additives for mineral oils to Italy, comprising 63% of total imports. The second position in the ranking was held by Germany ($X), with an 8.2% share of total imports. It was followed by Belgium, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France totaled -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-2.0% per year) and Belgium (-1.1% per year).

Import Prices by Country

The average lubricant additives import price stood at $X per ton in 2021, surging by 10% against the previous year. Overall, the import price, however, recorded a mild decline. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for South Korea ($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 Netherlands (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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