Sweden: Lubricant Additives Market 2024

Lubricant Additives Market Size in Sweden

In 2021, the Swedish lubricant additives market decreased by -14.8% to $X, falling for the third year in a row after two years of growth. Over the period under review, consumption continues to indicate a abrupt descent. Lubricant additives consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Lubricant Additives Production in Sweden

In value terms, lubricant additives production surged to $X in 2021 estimated in export price. Over the period under review, production showed a pronounced slump. Lubricant additives production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Lubricant Additives Exports

Exports from Sweden

In 2021, overseas shipments of prepared additives for mineral oils increased by 94% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports, however, showed a abrupt descent. The pace of growth was the most pronounced in 2013 with an increase of 95% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, lubricant additives exports skyrocketed to $X in 2021. Overall, exports, however, continue to indicate a drastic downturn. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Iraq (X tons) was the main destination for lubricant additives exports from Sweden, accounting for a 63% share of total exports. Moreover, lubricant additives exports to Iraq exceeded the volume sent to the second major destination, Finland (X tons), sixfold. Pakistan (X tons) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iraq amounted to +61.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-11.9% per year) and Pakistan (+2.8% per year).

In value terms, Iraq ($X) remains the key foreign market for prepared additives for mineral oils exports from Sweden, comprising 59% of total exports. The second position in the ranking was held by Finland ($X), with a 12% share of total exports. It was followed by Pakistan, with a 6% share.

From 2012 to 2021, the average annual growth rate of value to Iraq totaled +68.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-7.0% per year) and Pakistan (-0.2% per year).

Export Prices by Country

In 2021, the average lubricant additives export price amounted to $X per ton, with an increase of 3.7% against the previous year. Overall, the export price posted strong growth. The pace of growth was the most pronounced in 2019 when the average export price increased by 215%. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to the United States ($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 Netherlands (+14.2%), while the prices for the other major destinations experienced more modest paces of growth.

Lubricant Additives Imports

Imports into Sweden

In 2021, supplies from abroad of prepared additives for mineral oils decreased by -2.3% to X tons, falling for the third year in a row after two years of growth. In general, imports saw a abrupt downturn. The growth pace was the most rapid in 2013 when imports increased by 17% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, lubricant additives imports rose to $X in 2021. Overall, imports continue to indicate a abrupt setback. The growth pace was the most rapid in 2013 with an increase of 26% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

France (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of lubricant additives imports to Sweden, together accounting for 70% of total imports. Belgium, Denmark, the Netherlands, Australia, the UK and Finland lagged somewhat behind, together comprising a further 28%.

From 2012 to 2021, the biggest increases were recorded for Australia (with a CAGR of +341.8%), while purchases 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 lubricant additives suppliers to Sweden, together accounting for 74% of total imports. These countries were followed by Belgium, the Netherlands, Denmark, the UK, Australia and Finland, which together accounted for a further 23%.

Among the main suppliers, Australia, with a CAGR of +303.5%, 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 lubricant additives import price stood at $X per ton in 2021, picking up by 7.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.8%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 11%. Over the period under review, average import prices attained the peak figure in 2021 and is likely to continue growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+16.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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