Portugal: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Portugal

In 2022, the Portuguese market for petroleum lubricating oil and grease was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, recorded a pronounced setback. Petroleum lubricating oil and grease consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Production of Petroleum Lubricating Oil And Grease in Portugal

In value terms, petroleum lubricating oil and grease production rose sharply to $X in 2022 estimated in export price. In general, production continues to indicate mild growth. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Exports of Petroleum Lubricating Oil And Grease

Exports from Portugal

Petroleum lubricating oil and grease exports from Portugal reduced sharply to X tons in 2022, which is down by X% against 2021. Overall, exports recorded a abrupt downturn. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum 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 reduced to $X in 2022. In general, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Angola (X tons), Spain (X tons) and France (X tons) were the main destinations of petroleum lubricating oil and grease exports from Portugal, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by France (with a CAGR of X%), while the other leaders experienced mixed trend patterns.

In value terms, Angola ($X), Spain ($X) and France ($X) were the largest markets for petroleum lubricating oil and grease exported from Portugal worldwide, together accounting for X% of total exports.

Among the main countries of destination, France, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average export price for petroleum lubricating oil and grease amounted to $X per ton, surging by X% against the previous year. In general, export price indicated a noticeable increase from 2012 to 2022: its price 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, petroleum lubricating oil and grease export price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cabo Verde ($X per ton), while the average price for exports to France ($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 Cabo Verde (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Portugal

In 2022, overseas purchases of petroleum lubricating oil and grease decreased by X% to X tons, falling for the third year in a row after three years of growth. In general, total imports indicated a moderate 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 decreased by X% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease imports reduced slightly to $X in 2022. Over the period under review, total imports indicated a strong 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 2020 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest petroleum lubricating oil and grease supplier to Portugal, accounting for a X% share of total imports. Moreover, petroleum lubricating oil and grease imports from Spain exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. France (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

In value terms, Spain ($X) constituted the largest supplier of petroleum lubricating oil and grease to Portugal, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by France, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Spain stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and France (X% per year).

Import Prices by Country

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

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

Source: IndexBox Platform

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