Uruguay: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Uruguay

The Uruguayan market for petroleum lubricating oil and grease contracted to $X in 2022, with a decrease of X% against the previous year. Over the period under review, the total consumption indicated perceptible growth 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. Petroleum lubricating oil and grease consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Petroleum Lubricating Oil And Grease in Uruguay

In value terms, petroleum lubricating oil and grease production amounted to $X in 2022 estimated in export price. Overall, the total production indicated tangible growth 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, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Uruguay

In 2022, approx. X tons of petroleum lubricating oil and grease were exported from Uruguay; with a decrease of X% on 2021 figures. Overall, exports faced a abrupt downturn. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, petroleum lubricating oil and grease exports declined dramatically to $X in 2022. Over the period under review, exports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Paraguay (X tons), Bolivia (X tons) and Mexico (X tons) were the main destinations of petroleum lubricating oil and grease exports from Uruguay.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while shipments for the other leaders experienced a decline.

In value terms, the largest markets for petroleum lubricating oil and grease exported from Uruguay were Bolivia ($X), Paraguay ($X) and Mexico ($X).

Mexico, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Mexico ($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 Mexico (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Petroleum Lubricating Oil And Grease

Imports into Uruguay

In 2022, petroleum lubricating oil and grease imports into Uruguay fell remarkably to X tons, declining by X% on the previous year's figure. Over the period under review, imports continue to indicate a abrupt slump. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons, and then fell notably in the following year.

In value terms, petroleum lubricating oil and grease imports fell notably to $X in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of $X, and then shrank notably in the following year.

Imports by Country

The United States (X tons), Argentina (X tons) and France (X tons) were the main suppliers of petroleum lubricating oil and grease imports to Uruguay, together accounting for X% of total imports. Germany, Brazil, Spain and Belgium lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Belgium (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 Uruguay were the United States ($X), Germany ($X) and France ($X), with a combined X% share of total imports. Argentina, Brazil, Belgium and Spain lagged somewhat behind, together comprising a further X%.

Belgium, with a CAGR of X%, 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 import price for petroleum lubricating oil and grease stood at $X per ton in 2022, rising by X% against the previous year. Overall, import price indicated a strong expansion 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 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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