Europe: Lubricant Additives Market 2024

Lubricant Additives Market Size in Europe

After two years of growth, the Europe lubricant additives market decreased by X% to $X in 2023. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2022, and then reduced in the following year.

Lubricant Additives Production in Europe

In value terms, lubricant additives production dropped to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2022, and then dropped in the following year.

Lubricant Additives Exports

Exports in Europe

In 2023, shipments abroad of prepared additives for mineral oils decreased by X% to X tons, falling for the second year in a row after three years of growth. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports remained at a lower figure.

In value terms, lubricant additives exports contracted to $X in 2023. The total export value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2022, and then fell in the following year.

Exports by Country

In 2023, France (X tons) was the largest exporter of prepared additives for mineral oils, creating X% of total exports. It was distantly followed by Italy (X tons), Belgium (X tons) and Germany (X tons), together constituting a X% share of total exports. The Netherlands (X tons), Russia (X tons) and the UK (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricant additives supplying countries in Europe were France ($X), Belgium ($X) and Italy ($X), together accounting for X% of total exports.

In terms of the main exporting countries, Belgium, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Europe amounted to $X per ton, growing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2022 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in the near future.

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

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

Lubricant Additives Imports

Imports in Europe

After four years of growth, purchases abroad of prepared additives for mineral oils decreased by X% to X tons in 2023. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2022, and then dropped slightly in the following year.

In value terms, lubricant additives imports totaled $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, imports attained the peak figure in 2023 and are likely to see steady growth in the near future.

Imports by Country

Belgium was the largest importing country with an import of around X tons, which finished at X% of total imports. Germany (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by France (X%), Italy (X%), the Netherlands (X%), Russia (X%) and Spain (X%).

Belgium was also the fastest-growing in terms of the prepared additives for mineral oils imports, with a CAGR of X% from 2012 to 2023. At the same time, Russia (X%) and Germany (X%) displayed positive paces of growth. France and Spain experienced a relatively flat trend pattern. By contrast, the Netherlands (X%) and Italy (X%) illustrated a downward trend over the same period. While the share of Belgium (X p.p.) and Russia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of the Netherlands (X p.p.) and Italy (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X), Germany ($X) and France ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Italy, the Netherlands, Russia and Spain lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Russia, with a CAGR of X%, saw the highest growth rate of 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

In 2023, the import price in Europe amounted to $X per ton, approximately mirroring the previous year. Overall, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. Over the period under review, import prices hit record highs in 2023 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was France ($X per ton), while Belgium ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform