Mar 12, 2025
IndexBox has just published a new report: EU - Prepared Additives For Mineral Oils - Market Analysis, Forecast, Size, Trends and Insights.
The market for prepared additives for mineral oils in the European Union is projected to grow steadily over the next decade, with a forecasted increase in market volume to 21M tons and market value to $8B by the end of 2035. The anticipated CAGR of +2.3% in volume and +2.2% in value reflects the rising demand and consumption trend in the market.
Market Forecast
Driven by increasing demand for prepared additives for mineral oils in the European Union, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.3% for the period from 2024 to 2035, which is projected to bring the market volume to 21M tons by the end of 2035.
In value terms, the market is forecast to increase with an anticipated CAGR of +2.2% for the period from 2024 to 2035, which is projected to bring the market value to $8B (in nominal wholesale prices) by the end of 2035.
Consumption
European Union's Consumption of Prepared Additives For Mineral Oils
After three years of growth, consumption of prepared additives for mineral oils decreased by -46.2% to 16M tons in 2024. In general, consumption, however, recorded a significant expansion. As a result, consumption attained the peak volume of 30M tons, and then dropped significantly in the following year.
The value of the lubricant additives market in the European Union soared to $6.3B in 2024, with an increase of 44% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $7.6B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.
Consumption By Country
Italy (15M tons) remains the largest lubricant additives consuming country in the European Union, accounting for 89% of total volume. Moreover, lubricant additives consumption in Italy exceeded the figures recorded by the second-largest consumer, France (617K tons), more than tenfold. Belgium (401K tons) ranked third in terms of total consumption with a 2.4% share.
In Italy, lubricant additives consumption expanded at an average annual rate of +43.2% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of consumption growth: France (+3.3% per year) and Belgium (+1.8% per year).
In value terms, the largest lubricant additives markets in the European Union were France ($2.1B), Italy ($1.4B) and Germany ($965M), with a combined 71% share of the total market. Belgium and Spain lagged somewhat behind, together comprising a further 18%.
Spain, with a CAGR of +8.6%, saw the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other leaders experienced more modest paces of growth.
In 2024, the highest levels of lubricant additives per capita consumption was registered in Italy (247 kg per person), followed by Belgium (34 kg per person), France (9.1 kg per person) and Spain (6.5 kg per person), while the world average per capita consumption of lubricant additives was estimated at 37 kg per person.
From 2013 to 2024, the average annual growth rate of the lubricant additives per capita consumption in Italy totaled +43.5%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Belgium (+1.4% per year) and France (+3.0% per year).
Production
European Union's Production of Prepared Additives For Mineral Oils
In 2024, after three years of growth, there was significant decline in production of prepared additives for mineral oils, when its volume decreased by -46.1% to 16M tons. Over the period under review, production, however, showed significant growth. The pace of growth was the most pronounced in 2023 when the production volume increased by 1,187%. As a result, production attained the peak volume of 31M tons, and then reduced rapidly in the following year.
In value terms, lubricant additives production skyrocketed to $7.3B in 2024 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. Over the period under review, production reached the peak level at $8.9B in 2022; however, from 2023 to 2024, production failed to regain momentum.
Production By Country
The country with the largest volume of lubricant additives production was Italy (15M tons), accounting for 89% of total volume. Moreover, lubricant additives production in Italy exceeded the figures recorded by the second-largest producer, France (940K tons), more than tenfold. Germany (339K tons) ranked third in terms of total production with a 2.1% share.
From 2013 to 2024, the average annual growth rate of volume in Italy totaled +38.7%. In the other countries, the average annual rates were as follows: France (+0.5% per year) and Germany (+1.5% per year).
Imports
European Union's Imports of Prepared Additives For Mineral Oils
In 2024, supplies from abroad of prepared additives for mineral oils decreased by -21.8% to 1M tons, falling for the second year in a row after four years of growth. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of 16% against the previous year. The volume of import peaked at 1.3M tons in 2022; however, from 2023 to 2024, imports failed to regain momentum.
In value terms, lubricant additives imports reduced remarkably to $3.9B in 2024. Overall, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2022 when imports increased by 18% against the previous year. As a result, imports reached the peak of $5B. From 2023 to 2024, the growth of imports failed to regain momentum.
Imports By Country
Belgium represented the main importer of prepared additives for mineral oils in the European Union, with the volume of imports accounting for 348K tons, which was near 34% of total imports in 2024. It was distantly followed by Germany (141K tons), France (138K tons), Italy (94K tons), the Netherlands (71K tons) and Spain (67K tons), together constituting a 51% share of total imports. Poland (23K tons) took a little share of total imports.
Belgium was also the fastest-growing in terms of the prepared additives for mineral oils imports, with a CAGR of +9.3% from 2013 to 2024. At the same time, Poland (+3.1%) displayed positive paces of growth. Spain experienced a relatively flat trend pattern. By contrast, Germany (-2.0%), France (-2.9%), the Netherlands (-4.4%) and Italy (-4.8%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Belgium increased by +22 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, the largest lubricant additives importing markets in the European Union were Belgium ($945M), Germany ($700M) and France ($687M), with a combined 60% share of total imports.
In terms of the main importing countries, Belgium, with a CAGR of +6.7%, saw the highest rates of growth with regard to 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 2024, the import price in the European Union amounted to $3,859 per ton, remaining stable against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the import price increased by 16%. The level of import peaked at $3,868 per ton in 2023, and then dropped modestly in the following year.
There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was France ($4,967 per ton), while Belgium ($2,716 per ton) was amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.3%), while the other leaders experienced more modest paces of growth.
Exports
European Union's Exports of Prepared Additives For Mineral Oils
In 2024, shipments abroad of prepared additives for mineral oils decreased by -20.8% to 1.1M tons, falling for the third consecutive year after three years of growth. Overall, exports showed a mild descent. The growth pace was the most rapid in 2021 with an increase of 9.8% against the previous year. As a result, the exports attained the peak of 1.6M tons. From 2022 to 2024, the growth of the exports remained at a somewhat lower figure.
In value terms, lubricant additives exports contracted remarkably to $4.9B in 2024. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 16%. Over the period under review, the exports reached the maximum at $6.4B in 2022; however, from 2023 to 2024, the exports remained at a lower figure.
Exports By Country
France was the key exporting country with an export of about 461K tons, which accounted for 42% of total exports. It was distantly followed by Italy (217K tons), Belgium (200K tons) and Germany (159K tons), together constituting a 52% share of total exports. The Netherlands (37K tons) took a little share of total exports.
Exports from France decreased at an average annual rate of -3.1% from 2013 to 2024. At the same time, Belgium (+19.7%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +19.7% from 2013-2024. By contrast, Italy (-2.3%), the Netherlands (-3.2%) and Germany (-3.4%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Belgium increased by +16 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, France ($1.9B) remains the largest lubricant additives supplier in the European Union, comprising 39% of total exports. The second position in the ranking was held by Italy ($925M), with a 19% share of total exports. It was followed by Belgium, with a 19% share.
In France, lubricant additives exports plunged by an average annual rate of -2.3% over the period from 2013-2024. In the other countries, the average annual rates were as follows: Italy (-1.3% per year) and Belgium (+19.9% per year).
Export Prices By Country
The export price in the European Union stood at $4,393 per ton in 2024, falling by -2.1% against the previous year. Over the last eleven years, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2023 an increase of 13%. As a result, the export price reached the peak level of $4,486 per ton, and then declined slightly in the following year.
Average prices varied somewhat amongst the major exporting countries. In 2024, major exporting countries recorded the following prices: in the Netherlands ($5,493 per ton) and Germany ($4,748 per ton), while France ($4,143 per ton) and Italy ($4,269 per ton) were amongst the lowest.
From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the Netherlands (+2.6%), while the other leaders experienced more modest paces of growth.
Source: IndexBox Market Intelligence Platform
