Romania: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Romania

The Romanian lubricating oil additive market totaled $X in 2021, picking up by 6.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +20.4% against 2019 indices. Over the period under review, the market reached the peak level in 2021 and is likely to continue growth in years to come.

Lubricating Oil Additive Exports

Exports from Romania

In 2021, approx. X tons of additives for lubricating oils were exported from Romania; increasing by 220% on 2020. Over the period under review, exports posted a significant increase. The growth pace was the most rapid in 2014 when exports increased by 490% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, lubricating oil additive exports skyrocketed to $X in 2021. Overall, exports posted buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 126% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Bulgaria (X tons) was the main destination for lubricating oil additive exports from Romania, with a 89% share of total exports. It was followed by Hungary (X tons), with a 2.7% share of total exports. Finland (X tons) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume to Bulgaria amounted to +25.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (-5.8% per year) and Finland (0.0% per year).

In value terms, Bulgaria ($X) remains the key foreign market for additives for lubricating oils exports from Romania, comprising 46% of total exports. The second position in the ranking was taken by Finland ($X), with an 11% share of total exports. It was followed by Hungary, with a 4.9% share.

From 2012 to 2021, the average annual growth rate of value to Bulgaria totaled +9.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (0.0% per year) and Hungary (-6.9% per year).

Export Prices by Country

In 2021, the average lubricating oil additive export price amounted to $X per ton, declining by -50.2% against the previous year. In general, the export price showed a drastic downturn. The most prominent rate of growth was recorded in 2013 an increase of 490%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Bulgaria ($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 Algeria (+72.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports into Romania

In 2021, approx. X tons of additives for lubricating oils were imported into Romania; surging by 1.9% on the year before. Overall, imports showed a buoyant increase. The pace of growth was the most pronounced in 2014 when imports increased by 35%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in years to come.

In value terms, lubricating oil additive imports rose notably to $X in 2021. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +9.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +22.7% against 2019 indices. The pace of growth was the most pronounced in 2014 when imports increased by 41% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, France (X tons) constituted the largest lubricating oil additive supplier to Romania, with a 60% share of total imports. Moreover, lubricating oil additive imports from France exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The third position in this ranking was taken by Belgium (X tons), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France amounted to +12.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+12.9% per year) and Belgium (+27.6% per year).

In value terms, France ($X) constituted the largest supplier of additives for lubricating oils to Romania, comprising 48% of total imports. The second position in the ranking was taken by Italy ($X), with an 18% share of total imports. It was followed by Belgium, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France totaled +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+11.5% per year) and Belgium (+26.4% per year).

Import Prices by Country

In 2021, the average lubricating oil additive import price amounted to $X per ton, surging by 6.7% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 12% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 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 Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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