Slovakia: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Slovakia

In 2022, the Slovak market for processed petroleum oils and distillates increased by 25% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Processed Petroleum Oils and Distillates in Slovakia

In value terms, processed petroleum oils and distillates production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible contraction. The pace of growth was the most pronounced in 2018 when the production volume increased by 9%. Over the period under review, production reached the maximum level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports from Slovakia

Processed petroleum oils and distillates exports from Slovakia declined modestly to X tons in 2022, waning by -3.6% against 2021. Over the period under review, exports recorded a noticeable setback. The pace of growth was the most pronounced in 2013 when exports increased by 16% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, processed petroleum oils and distillates exports surged to $X in 2022. In general, exports recorded a noticeable curtailment. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The Czech Republic (X tons), Hungary (X tons) and Austria (X tons) were the main destinations of processed petroleum oils and distillates exports from Slovakia, together accounting for 71% of total exports. Poland, Ukraine, Serbia and Germany lagged somewhat behind, together comprising a further 25%.

From 2012 to 2022, the biggest increases were recorded for Ukraine (with a CAGR of +174.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Hungary ($X) and Poland ($X) were the largest markets for processed petroleum oils and distillates exported from Slovakia worldwide, together comprising 71% of total exports. Austria, Ukraine, Serbia and Germany lagged somewhat behind, together comprising a further 26%.

Among the main countries of destination, Ukraine, with a CAGR of +152.3%, 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 more modest paces of growth.

Export Prices by Country

The average export price for processed petroleum oils and distillates stood at $X per ton in 2022, surging by 60% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Ukraine ($X per ton), while the average price for exports to Austria ($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 Hungary (+0.5%), while the prices for the other major destinations experienced a decline.

Imports of Processed Petroleum Oils and Distillates

Imports into Slovakia

In 2022, approx. X tons of processed petroleum oils and distillates were imported into Slovakia; jumping by 79% compared with 2021. Overall, imports recorded resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports surged to $X in 2022. Over the period under review, imports posted a tangible expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Czech Republic (X tons) constituted the largest supplier of processed petroleum oils and distillates to Slovakia, with a 51% share of total imports. Moreover, processed petroleum oils and distillates imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Austria (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from the Czech Republic stood at +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+5.2% per year) and Germany (+18.6% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of processed petroleum oils and distillates to Slovakia, comprising 54% of total imports. The second position in the ranking was taken by Austria ($X), with a 15% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from the Czech Republic amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-2.0% per year) and Germany (+8.6% per year).

Import Prices by Country

The average import price for processed petroleum oils and distillates stood at $X per ton in 2022, approximately mirroring the previous year. Overall, the import price, however, recorded a abrupt decrease. The growth pace was the most rapid in 2018 when the average import price increased by 42%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (-4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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