Belgium Sharply Increases Imports of Additives for Lubricating Oils

Belgium Sharply Increases Imports of Additives for Lubricating Oils

IndexBox has just published a new report: ‘Belgium – Additives For Lubricating Oils – Market Analysis, Forecast, Size, Trends and Insights’. Here is a summary of the report’s key findings.

In 2020, Belgium’s imports of additives for lubricating oils rose substantially from 88K tonnes in 2019 to 145K tonnes in 2020. In value terms, imports grew to $436M. France, Italy and the U.S. dominate the Belgium’s imports, with a combined 80%-share of the total volume. All these countries ramped up their exports to Belgium significantly last year. The average import price of additives for lubricating oils dropped by -17.1% y-o-y to $3,018 per tonne.

Belgium’s Imports of Additives for Lubricating Oils

In 2020, approx. 145K tonnes of additives for lubricating oils were imported into Belgium, growing by +64% on 2019 figures. In value terms, additives for lubricating oils imports increased by +64.0% y-o-y to $436M (IndexBox estimates) in 2020.

In 2020, France (68K tonnes) constituted Belgium’s largest supplier of additives for lubricating oils, with a 47% share of total imports. Moreover, imports from France exceeded the figures recorded by the second-largest supplier, Italy (31K tonnes), twofold. The U.S. (17K tonnes) ranked third in total imports with a 12% share.

In 2020, imports from France rose by +37% y-o-y. Italy ramped its exports to Belgium by +81% y-o-y, while the U.S. increased the supplies fivefold.

In value terms, France ($195M), Italy ($109M) and the U.S. ($58M) were the largest suppliers to Belgium, with a combined 83% share of total imports. These countries were followed by the Netherlands, Germany, the UK and Mexico, which together accounted for a further 15%.

In 2020, the average import price for additives for lubricating oils amounted to $3,018 per tonne, declining by -17.1% against the previous year. Prices varied noticeably by the country of origin; the country with the highest price was Italy ($3,490 per tonne), while the price for the UK ($1,904 per tonne) was amongst the lowest. In 2020, the Netherlands attained the most notable price growth rate, while the prices for the other significant suppliers experienced a decline.

Source: IndexBox Platform

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