Spain: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Spain

The Spanish market for processed petroleum oils and distillates shrank notably to $X in 2022, which is down by -31.4% against the previous year. Over the period under review, consumption continues to indicate a abrupt descent. Processed petroleum oils and distillates consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Processed Petroleum Oils and Distillates in Spain

In value terms, processed petroleum oils and distillates production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt slump. The pace of growth was the most pronounced in 2021 when the production volume increased by 23%. Processed petroleum oils and distillates production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Exports of Processed Petroleum Oils and Distillates

Exports from Spain

In 2022, approx. X tons of processed petroleum oils and distillates were exported from Spain; rising by 52% compared with 2021. In general, exports showed a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 63%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, processed petroleum oils and distillates exports skyrocketed to $X in 2022. Overall, exports saw a noticeable increase. The growth pace was the most rapid in 2021 with an increase of 63%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

The United States (X tons), the Netherlands (X tons) and France (X tons) were the main destinations of processed petroleum oils and distillates exports from Spain, together comprising 48% of total exports. Morocco, Portugal, Italy, Brazil, Japan, Greece, Belgium and Malta lagged somewhat behind, together comprising a further 41%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +35.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), the United States ($X) and the Netherlands ($X) constituted the largest markets for processed petroleum oils and distillates exported from Spain worldwide, with a combined 45% share of total exports. Morocco, Portugal, Italy, Brazil, Japan, Malta, Belgium and Greece lagged somewhat behind, together accounting for a further 43%.

In terms of the main countries of destination, Japan, with a CAGR of +23.2%, saw the highest growth rate of 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, approximately reflecting the previous year. In general, the export price continues to indicate a deep downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by 25%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Portugal ($X per ton), while the average price for exports to Greece ($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 Morocco (-7.5%), while the prices for the other major destinations experienced a decline.

Imports of Processed Petroleum Oils and Distillates

Imports into Spain

Processed petroleum oils and distillates imports into Spain skyrocketed to X tons in 2022, rising by 32% on 2021 figures. Overall, imports recorded a prominent expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 86%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, processed petroleum oils and distillates imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 86%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

Italy (X tons), the Netherlands (X tons) and Portugal (X tons) were the main suppliers of processed petroleum oils and distillates imports to Spain, with a combined 50% share of total imports. Turkey, Greece, France, Brazil, the UK, the United States, Belgium, Sweden and India lagged somewhat behind, together comprising a further 43%.

From 2012 to 2022, the biggest increases were recorded for Brazil (with a CAGR of +201.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the Netherlands ($X) and Portugal ($X) constituted the largest processed petroleum oils and distillates suppliers to Spain, together accounting for 51% of total imports. Greece, France, Turkey, Brazil, the UK, Belgium, India, the United States and Sweden lagged somewhat behind, together comprising a further 41%.

Among the main suppliers, Brazil, with a CAGR of +144.8%, 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

The average import price for processed petroleum oils and distillates stood at $X per ton in 2022, remaining stable against the previous year. In general, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 35%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (-6.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :