Eastern Europe: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Eastern Europe

The East European lubricating oil additive market totaled $X in 2023, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2023 and is likely to continue growth in the near future.

Lubricating Oil Additive Production in Eastern Europe

In value terms, lubricating oil additive production rose slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2021; afterwards, it flattened through to 2023.

Lubricating Oil Additive Exports

Exports in Eastern Europe

In 2023, lubricating oil additive exports in Eastern Europe soared to X tons, picking up by X% against the previous year. Over the period under review, exports saw a measured increase. The volume of export peaked at X tons in 2021; however, from 2022 to 2023, the exports stood at a somewhat lower figure.

In value terms, lubricating oil additive exports surged to $X in 2023. Total exports indicated modest growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The level of export peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

In 2023, Belarus (X tons) represented the largest exporter of additives for lubricating oils, constituting X% of total exports. Russia (X tons) ranks second in terms of the total exports with a X% share, followed by Slovakia (X%), Poland (X%) and Romania (X%). Lithuania (X tons) followed a long way behind the leaders.

Exports from Belarus increased at an average annual rate of X% from 2012 to 2023. At the same time, Romania (X%), Poland (X%), Lithuania (X%) and Russia (X%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of X% from 2012-2023. By contrast, Slovakia (X%) illustrated a downward trend over the same period. Russia (X p.p.), Poland (X p.p.), Romania (X p.p.) and Lithuania (X p.p.) significantly strengthened its position in terms of the total exports, while Belarus and Slovakia saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Belarus ($X) remains the largest lubricating oil additive supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was held by Russia ($X), with a X% share of total exports. It was followed by Slovakia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Belarus was relatively modest. In the other countries, the average annual rates were as follows: Russia (X% per year) and Slovakia (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Europe amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price recorded a mild decrease. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined remarkably in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lithuania (X%), while the other leaders experienced more modest paces of growth.

Lubricating Oil Additive Imports

Imports in Eastern Europe

Lubricating oil additive imports expanded modestly to X tons in 2023, with an increase of X% on 2022. Over the period under review, imports posted strong growth. The pace of growth appeared the most rapid in 2019 when imports increased by X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, lubricating oil additive imports amounted to $X in 2023. Overall, imports saw buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2023 and are likely to see steady growth in the immediate term.

Imports by Country

Russia represented the key importer of additives for lubricating oils in Eastern Europe, with the volume of imports finishing at X tons, which was near X% of total imports in 2023. It was distantly followed by Poland (X tons), Lithuania (X tons) and Romania (X tons), together constituting a X% share of total imports. Belarus (X tons), Hungary (X tons) and Ukraine (X tons) took a relatively small share of total imports.

Imports into Russia increased at an average annual rate of X% from 2012 to 2023. At the same time, Belarus (X%), Lithuania (X%), Romania (X%), Ukraine (X%), Hungary (X%) and Poland (X%) displayed positive paces of growth. Moreover, Belarus emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Russia increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported additives for lubricating oils in Eastern Europe, comprising X% of total imports. The second position in the ranking was taken by Poland ($X), with a X% share of total imports. It was followed by Lithuania, with an X% share.

In Russia, lubricating oil additive imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Poland (X% per year) and Lithuania (X% per year).

Import Prices by Country

In 2023, the import price in Eastern Europe amounted to $X per ton, dropping by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then declined modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hungary ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform