Sweden: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Sweden

In 2022, the Swedish market for petroleum lubricating oil and grease increased by X% to $X, rising for the third year in a row after five years of decline. Over the period under review, consumption saw a remarkable increase. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Petroleum Lubricating Oil And Grease in Sweden

In value terms, petroleum lubricating oil and grease production soared to $X in 2022 estimated in export price. Overall, production saw a temperate expansion. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. Petroleum lubricating oil and grease production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Petroleum Lubricating Oil And Grease

Exports from Sweden

For the fourth consecutive year, Sweden recorded decline in overseas shipments of petroleum lubricating oil and grease, which decreased by X% to X tons in 2022. Overall, exports continue to indicate a pronounced descent. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, petroleum lubricating oil and grease exports shrank to $X in 2022. Over the period under review, exports showed a noticeable reduction. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Norway (X tons), Germany (X tons) and Denmark (X tons) were the main destinations of petroleum lubricating oil and grease exports from Sweden, with a combined X% share of total exports. Finland, Belgium, the Netherlands, Lithuania, Poland and Russia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Lithuania (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Norway ($X) remains the key foreign market for petroleum lubricating oil and grease exports from Sweden, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Denmark, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Norway was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Denmark (X% per year).

Export Prices by Country

In 2022, the average export price for petroleum lubricating oil and grease amounted to $X per ton, which is down by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then dropped modestly in the following year.

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

Imports of Petroleum Lubricating Oil And Grease

Imports into Sweden

In 2022, supplies from 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 import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, petroleum lubricating oil and grease imports amounted to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Germany (X tons), France (X tons) and Belgium (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Sweden, together comprising X% of total imports. The Netherlands, Italy, Denmark, Finland, the UK and Switzerland lagged somewhat behind, together accounting for a further X%.

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

In value terms, the largest petroleum lubricating oil and grease suppliers to Sweden were Germany ($X), France ($X) and Belgium ($X), together accounting for X% of total imports. The Netherlands, Italy, Denmark, the UK, Finland and Switzerland lagged somewhat behind, together accounting for a further X%.

Italy, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers 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, remaining relatively unchanged against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked 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 Switzerland ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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