Spain’s Lube Demand Up in 2021

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Spain’s Lube Demand Up in 2021
A farm machine mowing rice in Sueca, Spain. © Wirestock Creators

Spain’s lubricant demand increased 11% in 2021, compared to the same month in 2020, though it fell 3% shy of the country’s demand in 2019, according to the Spain Lubricants Association. A crisis in raw materials and semiconductors continues to have an impact on the country’s economy, the association said.

Aselube said the country’s lubricant demand reached 339,000 tons in 2021, compared to 305,000 tons in 2020 and 348,000 tons in 2019. The 2020 demand was the lowest since 306,000 tons in 2014.

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The Madrid-based association’s statistics report showed that last year was a tale of two halves for Spain. In the first half of 2021, demand reached 181,000 tons, a 53% improvement from the same period in 2020 and a 29% uptick from the first six months of 2019. In the second half of last year, demand was up only 13% at 158,000 tons. That figure was down 7% from the same period in 2019.

Aselube noted that economic development in Spain was hindered last year by a shortage of raw materials and semiconductors, as well as uncertainties about the continuing COVID-19 pandemic. These factors hit Spain’s fundamental industries – including tourism and automobile manufacturing – preventing a full recovery by businesses and therefore demand for lubricants.

The country’s automotive lubricant market showed a strong recovery, with demand up 12% from 2020, but it lagged 2019’s demand by 1%. Industrial lubricant demand was up 10% compared to 2020 but remained 6% behind 2019’s pace.

Spain was among the European countries most affected by the pandemic in the first half of 2020, but its lubricants market was already slowing down before government-imposed lockdown measures.