Spain's lubricants refinery output has shown significant fluctuations over the past decade. Starting from 2.13 thousand gigawatt-hours (TWh) in 2013, it peaked at 4.63 TWh in 2018, then experienced a consistent decline until 2021, hitting 3.43 TWh. The recovery began in 2022 with a significant 19.23% year-on-year increase. As of 2023, the output stands at 4.2 TWh, with a modest 2.64% year-on-year increase. The compound annual growth rate (CAGR) for the last five years is -1.94%, indicating a slight overall decline. However, future forecasts suggest moderate growth, with an average annual increase of 0.38% over the next five years, reaching 4.3 TWh by 2028.
Future trends to watch include the impact of green energy policies, technological advancements in lubricant production, and potential economic shifts that could affect refinery output. Monitoring these factors will be crucial for anticipating changes in Spain's lubricant refinery sector.
