Slovakia: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Slovakia

The Slovak market for petroleum lubricating oil and grease contracted to $X in 2022, declining by X% against the previous year. In general, the total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Petroleum Lubricating Oil And Grease in Slovakia

In value terms, petroleum lubricating oil and grease production declined markedly to $X in 2022 estimated in export price. Overall, production, however, showed resilient growth. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Slovakia

In 2022, shipments abroad of petroleum lubricating oil and grease increased by X% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, exports, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease exports surged to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

The Czech Republic (X tons) was the main destination for petroleum lubricating oil and grease exports from Slovakia, accounting for a X% share of total exports. Moreover, petroleum lubricating oil and grease exports to the Czech Republic exceeded the volume sent to the second major destination, Italy (X tons), more than tenfold. The third position in this ranking was held by Hungary (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Czech Republic totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Hungary (X% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for petroleum lubricating oil and grease exports from Slovakia, comprising X% of total exports. The second position in the ranking was held by Romania ($X), with an X% share of total exports. It was followed by Hungary, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the Czech Republic totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and Hungary (X% per year).

Export Prices by Country

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2022, falling by X% against the previous year. Overall, the export price, however, continues to indicate a resilient increase. The pace of growth was the most pronounced in 2020 when the average export price increased by X%. The export price peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Italy ($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 Austria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Slovakia

In 2022, overseas purchases of petroleum lubricating oil and grease decreased by X% to X tons, falling for the fifth year in a row after three years of growth. Over the period under review, imports saw a noticeable decrease. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, petroleum lubricating oil and grease imports expanded markedly to $X in 2022. Overall, imports, however, saw a slight increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest petroleum lubricating oil and grease supplier to Slovakia, accounting for a X% share of total imports. Moreover, petroleum lubricating oil and grease imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), twofold. The Netherlands (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, Germany ($X) constituted the largest supplier of petroleum lubricating oil and grease to Slovakia, comprising X% of total imports. The second position in the ranking was taken by the Czech Republic ($X), with a X% share of total imports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (X% per year) and the Netherlands (X% per year).

Import Prices by Country

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, petroleum lubricating oil and grease import price increased by X% against 2017 indices. The pace of growth appeared the most rapid in 2021 an increase of X%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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