Spain: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Spain

The Spanish market for petroleum lubricating oil and grease declined to $X in 2022, with a decrease of X% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Petroleum Lubricating Oil And Grease in Spain

In value terms, petroleum lubricating oil and grease production soared to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt setback. The pace of growth appeared the most rapid in 2021 when the production volume increased by X%. Petroleum lubricating oil and grease production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Spain

In 2022, shipments abroad of petroleum lubricating oil and grease increased by X% to X tons, rising for the second consecutive year after two years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The exports peaked 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 rose slightly to $X in 2022. Overall, total exports indicated a buoyant increase 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, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Portugal (X tons), China (X tons) and France (X tons) were the main destinations of petroleum lubricating oil and grease exports from Spain, with a combined X% share of total exports. Turkey, Morocco, Italy, Germany, South Korea, the UK, Australia, Poland, Mexico and Pakistan lagged somewhat behind, together comprising a further X%.

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

In value terms, Portugal ($X), France ($X) and China ($X) appeared to be the largest markets for petroleum lubricating oil and grease exported from Spain worldwide, together accounting for X% of total exports. Germany, Morocco, Turkey, Australia, Italy, the UK, Poland, Mexico, South Korea and Pakistan lagged somewhat behind, together comprising a further X%.

Australia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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

In 2022, the average export price for petroleum lubricating oil and grease amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

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

Imports of Petroleum Lubricating Oil And Grease

Imports into Spain

Petroleum lubricating oil and grease imports into Spain dropped to X tons in 2022, shrinking by X% compared with the previous year. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, petroleum lubricating oil and grease imports dropped to $X in 2022. Overall, imports, however, saw a prominent expansion. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

France (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Spain, together accounting for X% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Italy ($X) appeared to be the largest petroleum lubricating oil and grease suppliers to Spain, together comprising X% of total imports.

In terms of the main suppliers, Italy, with a CAGR of X%, 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 2022, the average import price for petroleum lubricating oil and grease amounted to $X per ton, surging by X% against the previous year. Overall, import price indicated a resilient increase 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 2013 indices. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

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 Belgium ($X per ton), while the price for Italy ($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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