When it comes to the global market for petroleum lubricating oil and grease, certain countries stand out as key players in terms of import value. According to data from the IndexBox market intelligence platform, the following are the world’s top 10 import markets for petroleum lubricating oil and grease, based on their import values in 2023:

Read also: Import Markets for Crude Oil and Processed Petroleum

1. China – $641.3 Million USD

China emerges as the top import market for petroleum lubricating oil and grease, with an import value of $641.3 million USD in 2023. The country’s robust manufacturing sector and growing automotive industry are driving the demand for lubricating oil and grease.

2. Germany – $378.5 Million USD

Germany ranks second in terms of import value, with $378.5 million USD in imports of petroleum lubricating oil and grease in 2023. The country’s highly industrialized economy and advanced manufacturing sector are key factors contributing to its significant import volume.

3. Canada – $287.8 Million USD

Canada is another major import market for petroleum lubricating oil and grease, with an import value of $287.8 million USD in 2023. The country’s diverse economy and extensive transportation infrastructure drive the demand for lubricating oil and grease. 4. Mexico – $202.1 Million USD Mexico holds the fourth spot in the ranking, with $202.1 million USD in imports of petroleum lubricating oil and grease in 2023. The country’s growing automotive industry and expanding industrial sector are key drivers of its import volume.

5. Netherlands – $178.0 Million USD

The Netherlands is a significant import market for petroleum lubricating oil and grease, with an import value of $178.0 million USD in 2023. The country’s strategic location as a gateway to Europe and its well-developed logistics infrastructure contribute to its status as a key import destination.

6. Belgium – $165.7 Million USD

Belgium ranks sixth in the list of top import markets for petroleum lubricating oil and grease, with $165.7 million USD in imports in 2023. The country’s strong industrial base and access to key European markets make it an important hub for lubricating oil and grease imports.

7. Russia – $159.8 Million USD

Russia is also a notable import market for petroleum lubricating oil and grease, with an import value of $159.8 million USD in 2023. The country’s vast energy resources and thriving manufacturing sector drive the demand for lubricating oil and grease imports.

8. Italy – $158.8 Million USD

Italy ranks eighth in the global import market for petroleum lubricating oil and grease, with $158.8 million USD in imports in 2023. The country’s strong automotive industry and well-established manufacturing sector contribute to its import volume.

9. France – $156.8 Million USD

France is another key import market for petroleum lubricating oil and grease, with an import value of $156.8 million USD in 2023. The country’s advanced manufacturing sector and extensive transportation network drive the demand for lubricating oil and grease imports.

10. United States – $152.0 Million USD

The United States rounds out the top 10 import markets for petroleum lubricating oil and grease, with an import value of $152.0 million USD in 2023. The country’s diverse industrial base and widespread use of lubricating oil and grease in various sectors contribute to its significant import volume.

Overall, these top import markets play a crucial role in driving global demand for petroleum lubricating oil and grease. Their strong economies, advanced manufacturing sectors, and growing automotive industries make them key destinations for lubricant imports. As the global market continues to evolve, these countries are likely to remain vital players in the import of lubricating oil and grease.

Source: IndexBox Market Intelligence Platform