Libya: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Libya

The Libyan market for petroleum lubricating oil and grease reduced to $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Production of Petroleum Lubricating Oil And Grease in Libya

In value terms, petroleum lubricating oil and grease production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Exports of Petroleum Lubricating Oil And Grease

Exports from Libya

In 2022, overseas shipments of petroleum lubricating oil and grease decreased by X% to X tons, falling for the second consecutive year after two years of decline. Over the period under review, exports faced a precipitous decrease. The smallest decline of X% was in 2021. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, petroleum lubricating oil and grease exports stood at $X in 2022. Overall, exports continue to indicate a sharp downturn. The smallest decline of X% was in 2021. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for petroleum lubricating oil and grease exports from Libya, with a approx. X% share of total exports.

From 2013 to 2022, the average annual growth rate of volume to France was relatively modest.

From 2013 to 2022, the average annual rate of growth in terms of value to France was relatively modest.

Export Prices by Country

In 2022, the average export price for petroleum lubricating oil and grease amounted to $X per ton, remaining constant against the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when the average export price decreased by X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for France.

From 2013 to 2022, the rate of growth in terms of prices for Bulgaria amounted to X% per year.

Imports of Petroleum Lubricating Oil And Grease

Imports into Libya

In 2022, the amount of petroleum lubricating oil and grease imported into Libya reduced markedly to X tons, declining by X% compared with the previous year. Over the period under review, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, petroleum lubricating oil and grease imports contracted to $X in 2022. Overall, imports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons), the UK (X tons) and Turkey (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Libya, with a combined X% share of total imports. Lithuania, Canada, Germany, Egypt, Italy, France, Tunisia, China, Belgium and South Korea 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, Saudi Arabia ($X), Germany ($X) and the UK ($X) constituted the largest petroleum lubricating oil and grease suppliers to Libya, with a combined X% share of total imports. Turkey, Italy, Lithuania, Egypt, France, Canada, Belgium, China, Tunisia and South Korea lagged somewhat behind, together comprising a further X%.

Lithuania, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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, rising by X% against the previous year. Overall, the import price recorded a modest increase. The pace of growth was the most pronounced in 2015 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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