Spain: Lubricant Additives Market 2024

Lubricant Additives Market Size in Spain

The Spanish lubricant additives market soared to $X in 2021, rising by 56% against the previous year. Over the period under review, the total consumption indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +60.8% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Lubricant Additives Production in Spain

In value terms, lubricant additives production soared to $X in 2021 estimated in export price. Over the period under review, production posted buoyant growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Lubricant Additives Exports

Exports from Spain

In 2021, overseas shipments of prepared additives for mineral oils decreased by -22.5% to X tons, falling for the third consecutive year after two years of growth. In general, exports recorded a mild shrinkage. The pace of growth was the most pronounced in 2014 with an increase of 47% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, lubricant additives exports fell to $X in 2021. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 71% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Italy (X tons), Germany (X tons) and Egypt (X tons) were the main destinations of lubricant additives exports from Spain, with a combined 39% share of total exports. These countries were followed by Russia, Portugal, Switzerland, France, the UK, Indonesia, the United States, Argentina, China and Australia, which together accounted for a further 46%.

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 +81.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Egypt ($X) were the largest markets for lubricant additives exported from Spain worldwide, with a combined 38% share of total exports. Portugal, Russia, the UK, Switzerland, Indonesia, France, China, the United States, Australia and Argentina lagged somewhat behind, together accounting for a further 42%.

Russia, with a CAGR of +76.4%, recorded the highest growth rate of 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, growing by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2016 when the average export price increased by 22% against the previous year. Over the period under review, the average export prices reached the peak figure in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Argentina ($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 China (+7.2%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Spain

In 2021, overseas purchases of prepared additives for mineral oils decreased by -5.7% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 18% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, lubricant additives imports expanded significantly to $X in 2021. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by 13%. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of lubricant additives imports to Spain, together comprising 81% of total imports. These countries were followed by Belgium, the Netherlands and the UK, which together accounted for a further 16%.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +12.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricant additives suppliers to Spain were France ($X), Italy ($X) and Germany ($X), together accounting for 81% of total imports. Belgium, the Netherlands and the UK lagged somewhat behind, together comprising a further 16%.

The Netherlands, with a CAGR of +10.9%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lubricant additives import price stood at $X per ton in 2021, increasing by 14% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average import price increased by 14%. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and France ($X per ton), while the price for the UK ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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