Slovakia: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Slovakia

The Slovak lubricating oil additive market reduced notably to $X in 2021, dropping by -98.5% against the previous year. In general, consumption faced a precipitous shrinkage. Lubricating oil additive consumption peaked at $X in 2020, and then contracted rapidly in the following year.

Lubricating Oil Additive Production in Slovakia

In value terms, lubricating oil additive production reduced modestly to $X in 2021 estimated in export price. In general, production continues to indicate a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 2.1% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Lubricating Oil Additive Exports

Exports from Slovakia

In 2021, overseas shipments of additives for lubricating oils increased by 19% to X tons, rising for the second consecutive year after three years of decline. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 32%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, lubricating oil additive exports skyrocketed to $X in 2021. Overall, exports, however, saw a noticeable setback. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons), France (X tons) and Russia (X tons) were the main destinations of lubricating oil additive exports from Slovakia, together accounting for 96% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +56.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricating oil additive exported from Slovakia were Germany ($X), France ($X) and Russia ($X), with a combined 95% share of total exports.

Among the main countries of destination, Russia, with a CAGR of +50.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average lubricating oil additive export price stood at $X per ton in 2021, growing by 8.3% against the previous year. In general, the export price, however, saw a pronounced descent. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Germany ($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 the United States (+28.7%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports into Slovakia

In 2021, supplies from abroad of additives for lubricating oils increased by 13% to X tons, rising for the third year in a row after two years of decline. In general, imports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of 551%. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, lubricating oil additive imports rose modestly to $X in 2021. Overall, imports enjoyed a strong increase. The pace of growth was the most pronounced in 2016 when imports increased by 590% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, Poland (X tons) constituted the largest lubricating oil additive supplier to Slovakia, with a 48% share of total imports. Moreover, lubricating oil additive imports from Poland exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland amounted to +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+20.1% per year) and Germany (+2.9% per year).

In value terms, the largest lubricating oil additive suppliers to Slovakia were the Czech Republic ($X), Poland ($X) and Germany ($X), together accounting for 83% of total imports. These countries were followed by France, Belgium and the Netherlands, which together accounted for a further 13%.

Belgium, with a CAGR of +47.5%, recorded the highest rates of growth with regard to 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

The average lubricating oil additive import price stood at $X per ton in 2021, shrinking by -8.4% against the previous year. In general, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lubricating oil additive import price increased by +55.5% against 2013 indices. The most prominent rate of growth was recorded in 2020 an increase of 24% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Poland ($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 (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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