Europe: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Europe

In 2022, the Europe market for processed petroleum oils and distillates increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, continues to indicate a mild shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Processed Petroleum Oils and Distillates in Europe

In value terms, processed petroleum oils and distillates production reduced to $X in 2022 estimated in export price. In general, production showed a noticeable descent. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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Exports of Processed Petroleum Oils and Distillates

Exports in Europe

In 2022, shipments abroad of processed petroleum oils and distillates increased by X% to X tons, rising for the second consecutive year after four years of decline. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of X%. The volume of export peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, processed petroleum oils and distillates exports surged to $X in 2022. Overall, exports, however, continue to indicate a pronounced setback. The pace of growth was the most pronounced in 2021 when exports increased by X%. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Netherlands (X tons) and Russia (X tons) represented roughly X% of total exports in 2022. Spain (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Belgium (X%) and Italy (X%). The following exporters - Germany (X tons), the UK (X tons), Greece (X tons), Sweden (X tons), France (X tons) and Portugal (X tons) - together made up X% of total exports.

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

In value terms, the largest processed petroleum oils and distillates supplying countries in Europe were the Netherlands ($X), Russia ($X) and Germany ($X), with a combined X% share of total exports. Italy, Belgium, Spain, the UK, Greece, Sweden, France and Portugal lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Greece, 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 export price in Europe amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, showed a pronounced downturn. The pace of growth was the most pronounced in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while Portugal ($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 other leaders experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports in Europe

In 2022, approx. X tons of processed petroleum oils and distillates were imported in Europe; rising by X% compared with 2021 figures. Total imports indicated prominent growth from 2012 to 2022: its volume 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 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports skyrocketed to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the Netherlands (X tons), distantly followed by Belgium (X tons), Germany (X tons), the UK (X tons), France (X tons) and Italy (X tons) were the largest importers of processed petroleum oils and distillates, together achieving X% of total imports. Spain (X tons), Malta (X tons), Sweden (X tons), Poland (X tons), Switzerland (X tons), Greece (X tons) and Austria (X tons) took a minor share of total imports.

Imports into the Netherlands increased at an average annual rate of X% from 2012 to 2022. At the same time, Poland (X%), Greece (X%), Sweden (X%), Malta (X%), Belgium (X%), Spain (X%), the UK (X%), Germany (X%), Austria (X%), Italy (X%) and France (X%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in Europe, with a CAGR of X% from 2012-2022. By contrast, Switzerland (X%) illustrated a downward trend over the same period. Belgium (X p.p.), Germany (X p.p.), the UK (X p.p.) and Poland (X p.p.) significantly strengthened its position in terms of the total imports, while Switzerland and the Netherlands saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest processed petroleum oils and distillates importing markets in Europe were the Netherlands ($X), Germany ($X) and Belgium ($X), with a combined X% share of total imports. The UK, France, Italy, Spain, Sweden, Austria, Poland, Switzerland, Malta and Greece lagged somewhat behind, together accounting for a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2018 an increase of X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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