Scandinavia: Lubricant Additives Market 2024

Lubricant Additives Market Size in Scandinavia

In 2021, the Scandinavia lubricant additives market decreased by -9.8% to $X, falling for the third year in a row after two years of growth. Overall, consumption showed a pronounced descent. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Lubricant Additives Production in Scandinavia

In value terms, lubricant additives production stood at $X in 2021 estimated in export price. In general, production continues to indicate a drastic downturn. The growth pace was the most rapid in 2018 when the production volume increased by 24% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Lubricant Additives Exports

Exports in Scandinavia

After three years of decline, overseas shipments of prepared additives for mineral oils increased by 12% to X tons in 2021. Over the period under review, exports, however, saw a abrupt contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 44%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, lubricant additives exports soared to $X in 2021. Overall, exports, however, continue to indicate a abrupt downturn. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Denmark was the key exporting country with an export of about X tons, which accounted for 55% of total exports. Sweden (X tons) took a 29% share (based on physical terms) of total exports, which put it in second place, followed by Norway (9.3%) and Finland (6%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Denmark (with a CAGR of -0.7%), while the other leaders experienced a decline in the exports figures.

In value terms, Denmark ($X), Sweden ($X) and Norway ($X) were the countries with the highest levels of exports in 2021, with a combined 96% share of total exports.

In terms of the main exporting countries, Denmark, with a CAGR of -2.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, with an increase of 16% against the previous year. In general, the export price continues to indicate notable growth. The growth pace was the most rapid in 2019 when the export price increased by 62% against the previous year. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+9.8%), while the other leaders experienced mixed trends in the export price figures.

Lubricant Additives Imports

Imports in Scandinavia

In 2021, approx. X tons of prepared additives for mineral oils were imported in Scandinavia; shrinking by -6.4% on the previous year's figure. In general, imports saw a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 8.5% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, lubricant additives imports stood at $X in 2021. Overall, imports saw a perceptible descent. The growth pace was the most rapid in 2018 when imports increased by 13% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Finland (X tons) and Sweden (X tons) represented roughly 73% of total imports in 2021. It was distantly followed by Denmark (X tons), achieving a 22% share of total imports. Norway (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +3.1%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest lubricant additives importing markets in Scandinavia were Sweden ($X), Finland ($X) and Denmark ($X), with a combined 94% share of total imports.

Finland, with a CAGR of -2.1%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, surging by 8.8% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 9.8%. Over the period under review, import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Norway ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+3.8%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform