The European lubricants market in 2023 saw Germany leading in opening stock share with 24.43 thousand metric tons, followed by Belgium and the Netherlands. Germany and Belgium have experienced a negative growth rate, whereas France has shown strong positive growth. Italy and the UK faced notable declines. Emerging markets like Ukraine, Austria, and Czech Republic show positive growth rates, indicating potential market opportunities. Smaller markets in Cyprus and Latvia also demonstrated slow yet positive advancements.
Future trends to observe in the European lubricants market include:
- Recovery and growth potential in Ukraine, driven by double-digit recent year-on-year growth.
- Stabilization and potential growth in declining markets like Italy and the UK, contingent on economic conditions.
- Monitoring eco-friendly and innovative lubricant development in response to increasing environmental regulations.
- Potential shifts in demand dynamics fueled by technological advancements and the automotive industry's transition to electric vehicles.
Top countries in Lubricants Opening Stock Share by Country (Thousand Metric Tons)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 24.43 | 2023 | 0% | -0.43% | View data |
| 2 | 2 Belgium | 15.66 | 2023 | -0.5% | -1.65% | View data |
| 3 | 3 Netherlands | 12.61 | 2023 | +5.94% | +0.38% | View data |
| 4 | 4 Italy | 11.19 | 2023 | -4.75% | -9.66% | View data |
| 5 | 5 France | 9.66 | 2023 | +3.9% | +7.63% | View data |
| 6 | 6 Ukraine | 4.9 | 2023 | +5.71% | +11.47% | View data |
| 7 | 7 United Kingdom | 4 | 2023 | -7.83% | -6.99% | View data |
| 8 | 8 Spain | 2.71 | 2023 | +5.13% | -6.7% | View data |
| 9 | 9 Greece | 2.02 | 2023 | +6.4% | +6.78% | View data |
| 10 | 10 Portugal | 2 | 2023 | +2.08% | +0.44% | View data |
