Slovakia: Lubricant Additives Market 2024

Lubricant Additives Market Size in Slovakia

The Slovak lubricant additives market fell dramatically to $X in 2021, which is down by -16.7% against the previous year. Overall, consumption continues to indicate a perceptible contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Lubricant Additives Production in Slovakia

In value terms, lubricant additives production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a slight decline. The growth pace was the most rapid in 2019 with an increase of 82% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Lubricant Additives Exports

Exports from Slovakia

After four years of decline, shipments abroad of prepared additives for mineral oils increased by 19% to X tons in 2021. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when exports increased by 32% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, lubricant additives exports skyrocketed to $X in 2021. Over the period under review, exports, however, showed a noticeable curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 101% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X tons), France (X tons) and Russia (X tons) were the main destinations of lubricant additives exports from Slovakia, with a combined 95% share 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 +38.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for lubricant additives exported from Slovakia were Germany ($X), France ($X) and Russia ($X), with a combined 92% share of total exports.

Russia, with a CAGR of +36.6%, recorded the highest rates of growth with regard to 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

The average lubricant additives export price stood at $X per ton in 2021, surging by 6.9% against the previous year. In general, the export price, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2019 an increase of 101% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat 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 (+29.6%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Slovakia

After two years of growth, supplies from abroad of prepared additives for mineral oils decreased by -19% to X tons in 2021. Over the period under review, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2013 with an increase of 43%. Imports peaked at X tons in 2020, and then contracted markedly in the following year.

In value terms, lubricant additives imports rose notably to $X in 2021. Overall, total imports indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +103.0% against 2015 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 27% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest lubricant additives supplier to Slovakia, accounting for a 54% share of total imports. Moreover, lubricant additives imports from Germany exceeded the figures recorded by the second-largest supplier, Hungary (X tons), twofold. The third position in this ranking was taken by the Czech Republic (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany stood at +10.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+41.0% per year) and the Czech Republic (+9.1% per year).

In value terms, Germany ($X), the Czech Republic ($X) and Hungary ($X) were the largest lubricant additives suppliers to Slovakia, together accounting for 82% of total imports.

Among the main suppliers, Hungary, with a CAGR of +27.4%, recorded the highest rates of growth with regard to the value of imports, 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, picking up by 35% against the previous year. Overall, the import price, however, saw a pronounced decrease. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Hungary ($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 Czech Republic (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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