Portugal: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Portugal

The Portuguese lubricating oil additive market contracted to $X in 2021, with a decrease of -10.5% against the previous year. Overall, consumption recorded a abrupt downturn. Lubricating oil additive consumption peaked at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Lubricating Oil Additive Production in Portugal

In value terms, lubricating oil additive production shrank to $X in 2021 estimated in export price. Overall, production recorded a noticeable slump. The growth pace was the most rapid in 2016 with an increase of 110% against the previous year. Lubricating oil additive production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Lubricating Oil Additive Exports

Exports from Portugal

In 2021, approx. X tons of additives for lubricating oils were exported from Portugal; with an increase of 120% against 2020. In general, exports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of 233%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, lubricating oil additive exports surged to $X in 2021. Over the period under review, exports recorded a slight increase. The pace of growth was the most pronounced in 2013 when exports increased by 213% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for lubricating oil additive exports from Portugal, accounting for a 65% share of total exports. Moreover, lubricating oil additive exports to Spain exceeded the volume sent to the second major destination, Angola (X tons), twofold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain amounted to +43.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-22.0% per year) and Morocco (+15.8% per year).

In value terms, Spain ($X) remains the key foreign market for additives for lubricating oils exports from Portugal, comprising 89% of total exports. The second position in the ranking was taken by Angola ($X), with an 8.1% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain stood at +76.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Angola (-22.6% per year) and Morocco (-1.2% per year).

Export Prices by Country

In 2021, the average lubricating oil additive export price amounted to $X per ton, reducing by -31.8% against the previous year. Overall, the export price, however, showed a strong increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 351% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then shrank dramatically in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Morocco ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+22.8%), while the prices for the other major destinations experienced mixed trend patterns.

Lubricating Oil Additive Imports

Imports into Portugal

For the fifth consecutive year, Portugal recorded decline in supplies from abroad of additives for lubricating oils, which decreased by -13.6% to X tons in 2021. Over the period under review, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 13% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, lubricating oil additive imports reduced to $X in 2021. In general, imports showed a deep reduction. The pace of growth was the most pronounced in 2013 with an increase of 16%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

France (X tons), Belgium (X tons) and Spain (X tons) were the main suppliers of lubricating oil additive imports to Portugal, with a combined 88% share of total imports. These countries were followed by Germany, Italy, the Netherlands and the UK, which together accounted for a further 12%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +8.6%), while purchases for the other leaders experienced a decline.

In value terms, France ($X) constituted the largest supplier of additives for lubricating oils to Portugal, comprising 48% of total imports. The second position in the ranking was held by Belgium ($X), with a 17% share of total imports. It was followed by Spain, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France stood at -6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-5.6% per year) and Spain (-8.2% per year).

Import Prices by Country

The average lubricating oil additive import price stood at $X per ton in 2021, picking up by 5.3% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 15% against the previous year. The import price peaked at $X per ton in 2018; afterwards, it flattened through to 2021.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Belgium ($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 UK (+19.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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