Romania: Lubricant Additives Market 2024

Lubricant Additives Market Size in Romania

The Romanian lubricant additives market rose remarkably to $X in 2021, increasing by 11% against the previous year. Overall, consumption saw buoyant growth. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Lubricant Additives Production in Romania

In value terms, lubricant additives production declined remarkably to $X in 2021 estimated in export price. In general, production enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2020 when the production volume increased by 140% against the previous year. As a result, production reached the peak level of $X, and then dropped dramatically in the following year.

Lubricant Additives Exports

Exports from Romania

In 2021, lubricant additives exports from Romania contracted markedly to X tons, reducing by -51.4% against 2020. Overall, exports, however, recorded strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 822%. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, lubricant additives exports dropped dramatically to $X in 2021. In general, exports, however, showed temperate growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,708%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Bulgaria (X tons), Turkey (X tons) and Moldova (X tons) were the main destinations of lubricant additives exports from Romania, with a combined 75% share of total exports. Hungary, Greece, Germany, Belgium, Bosnia and Herzegovina, Finland and Serbia lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2021, the biggest increases were recorded for Bosnia and Herzegovina (with a CAGR of +497.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricant additives exported from Romania were Bulgaria ($X), Turkey ($X) and Hungary ($X), together accounting for 58% of total exports. These countries were followed by Moldova, Finland, Belgium, Greece, Bosnia and Herzegovina, Serbia and Germany, which together accounted for a further 22%.

Bosnia and Herzegovina, with a CAGR of +543.7%, recorded the highest growth rate of 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, with an increase of 14% against the previous year. Overall, the export price, however, continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2014 when the average export price increased by 96%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Germany ($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 Bosnia and Herzegovina (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Romania

In 2021, approx. X tons of prepared additives for mineral oils were imported into Romania; approximately mirroring the previous year. The total import volume increased at an average annual rate of +2.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 24%. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in the immediate term.

In value terms, lubricant additives imports rose remarkably to $X in 2021. The total import value increased at an average annual rate of +2.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by 15% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2021, France (X tons) constituted the largest supplier of lubricant additives to Romania, with a 47% share of total imports. Moreover, lubricant additives imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Italy (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from France amounted to +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+1.9% per year) and Italy (+8.5% per year).

In value terms, the largest lubricant additives suppliers to Romania were France ($X), Germany ($X) and Italy ($X), with a combined 71% share of total imports. These countries were followed by Belgium, Hungary, Austria, the Netherlands, the UK, Belarus and Norway, which together accounted for a further 23%.

Belgium, with a CAGR of +23.5%, 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

In 2021, the average lubricant additives import price amounted to $X per ton, growing by 9.5% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 11% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Norway ($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 (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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