In 2024, Germany led European lubricant stocks with 395.0 thousand metric tons, trailed by Belgium (331.8), Italy (305.7), and the Netherlands (167.12). France, Ukraine, and the UK follow with 82.79, 63.1, and 45.46 respectively. Smaller stocks were noted in Southern and Eastern Europe, such as Portugal, Poland, and Greece, each below 40 thousand metric tons. Luxembourg held the smallest stock at 0.069 thousand metric tons.
Year-on-year variations reveal Germany's slight decline (-0.55%), Belgium's growth (4.17%), and significant reductions in the UK (-11.18%) and Spain (-8.35%). Notable increases were seen in small markets like Latvia (1.39%) and stable stocks in Denmark and Luxembourg.
Looking ahead, trends to watch include fluctuating demands driven by industrialization in Eastern Europe, potential economic impacts from geopolitical tensions, and advancements in synthetic lubricants market penetration. Environmental regulations will likely further influence the industry's trajectory.
Top countries in Lubricants Closing Stock by Country
| # | 10 Countries | Thousand Metric Tons | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 395 | 2023 | +3.13% | -0.55% | View data |
| 2 | 2 Belgium | 331.8 | 2023 | +13.09% | +4.17% | View data |
| 3 | 3 Italy | 305.7 | 2023 | +7.5% | +1.56% | View data |
| 4 | 4 Netherlands | 167.12 | 2023 | +2.81% | -3.4% | View data |
| 5 | 5 France | 82.79 | 2023 | -5.49% | -6.2% | View data |
| 6 | 6 Ukraine | 63.1 | 2023 | +10.51% | -1.48% | View data |
| 7 | 7 United Kingdom | 45.46 | 2023 | -11.23% | -11.18% | View data |
| 8 | 8 Spain | 45.27 | 2023 | +6.83% | -8.35% | View data |
| 9 | 9 Poland | 30.71 | 2023 | -3.25% | -2.58% | View data |
| 10 | 10 Greece | 29.81 | 2023 | +5.64% | -2.63% | View data |
