Lubricant demand in Spain slipped 12% in the third quarter, compared to the same period in 2020, and was also down 14% compared to 2019’s third quarter, according to the Spain Lubricants Association.
Although the quarter’s sales were the country’s worst in five years, Aselube noted that year-to-date sales through September this year were up 16% from sales for the first three quarters of 2020 and down 2% from the same period in 2019. This was attributed to strong performance in sales during the first half of this year.
Through the first three quarters, most of the market’s segments remained ahead of last year’s pace, again attributed to the strong January-June sales. Compared to 2020’s first three quarters, automotive lubricants demand was up by 15% and industrial lubricants demand up by 13.5%. Marine and aviation lube demand were each down by 3%.
When comparing the first three quarters of this year to the same period in 2019, automotive lube sales were down less than 1% and industrial lube sales were down 7%.
The Madrid-based association’s statistics report indicated that Spain’s lubricant demand ballooned during the second quarter, peaking in May, when lube sales were up 120% compared to the same month in 2020. Compared to year-earlier results, July sales dropped back to even, while sales in August and September were well below.
The association projected that the market would end the year with around 340,000 metric tons in sales, above 2020’s figure but slightly lower compared to 350,000 tons in 2019. “However, if the negative trend of the last months continues, and the sales of the last year quarter of this year compared to last year was negative, the closing estimate could yield a significantly lower figure.”
Spain was among the European Countries hit hardest by the coronavirus in the first half of 2020, but its lubricants market was already flagging before the national government imposed lockdown measures.