Hungary: Lubricating Oil Additive Market 2024

Lubricating Oil Additive Market Size in Hungary

The Hungarian lubricating oil additive market expanded to $X in 2022, growing by X% against the previous year. Over the period under review, consumption showed a resilient increase. Lubricating oil additive consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Lubricating Oil Additive Production in Hungary

In value terms, lubricating oil additive production reached $X in 2022 estimated in export price. Overall, production recorded significant growth. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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Lubricating Oil Additive Exports

Exports from Hungary

Lubricating oil additive exports from Hungary dropped rapidly to X tons in 2022, falling by X% compared with 2021. Over the period under review, exports showed a deep downturn. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, lubricating oil additive exports shrank rapidly to $X in 2022. Overall, exports saw a perceptible decline. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Spain (X tons), Italy (X tons) and Germany (X tons) were the main destinations of lubricating oil additive exports from Hungary, with a combined X% share of total exports.

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

In value terms, the largest markets for lubricating oil additive exported from Hungary were Spain ($X), Italy ($X) and Germany ($X), together accounting for X% of total exports.

Among the main countries of destination, Spain, 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 2022, the average lubricating oil additive export price amounted to $X per ton, falling by X% against the previous year. Overall, the export price, however, posted a buoyant expansion. The growth pace was the most rapid in 2019 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

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

Lubricating Oil Additive Imports

Imports into Hungary

In 2022, approx. X tons of additives for lubricating oils were imported into Hungary; rising by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at X tons in 2017; afterwards, it flattened through to 2022.

In value terms, lubricating oil additive imports soared to $X in 2022. In general, total imports indicated buoyant 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, France (X tons) constituted the largest lubricating oil additive supplier to Hungary, with a X% share of total imports. Moreover, lubricating oil additive imports from France exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from France stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (X% per year) and Germany (X% per year).

In value terms, France ($X), Belgium ($X) and Germany ($X) were the largest lubricating oil additive suppliers to Hungary, with a combined X% share of total imports. The Czech Republic, the Netherlands and Italy lagged somewhat behind, together accounting for a further X%.

The Czech Republic, with a CAGR of X%, saw 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 lubricating oil additive import price amounted to $X per ton, increasing 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 2018 when the average import price increased by X%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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