Belgium: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Belgium

In 2022, after two years of growth, there was significant decline in the Belgian carbon dioxide market, when its value decreased by -42.2% to $X. Overall, consumption, however, enjoyed a resilient expansion. Carbon dioxide consumption peaked at $X in 2021, and then dropped notably in the following year.

Carbon Dioxide Production in Belgium

In value terms, carbon dioxide production reduced sharply to $X in 2022 estimated in export price. In general, production, however, posted a significant increase. The growth pace was the most rapid in 2013 with an increase of 808%. Over the period under review, production attained the peak level at $X in 2021, and then fell notably in the following year.

Carbon Dioxide Exports

Exports from Belgium

Carbon dioxide exports from Belgium soared to X tons in 2022, jumping by 47% against the previous year. Over the period under review, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +59.3% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 72%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

In value terms, carbon dioxide exports surged to $X in 2022. In general, exports enjoyed a prominent expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for carbon dioxide exports from Belgium, accounting for a 52% share of total exports. Moreover, carbon dioxide exports to the Netherlands exceeded the volume sent to the second major destination, France (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands amounted to +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+0.9% per year) and Germany (+15.3% per year).

In value terms, the Netherlands ($X) remains the key foreign market for carbon dioxide exports from Belgium, comprising 56% of total exports. The second position in the ranking was held by Spain ($X), with a 16% share of total exports. It was followed by France, with a 13% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands stood at +12.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+110.3% per year) and France (-0.7% per year).

Export Prices by Country

In 2022, the average carbon dioxide export price amounted to $X per ton, surging by 14% against the previous year. Over the period under review, export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carbon dioxide export price increased by +85.5% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 27%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+8.4%), while the prices for the other major destinations experienced mixed trend patterns.

Carbon Dioxide Imports

Imports into Belgium

In 2022, the amount of carbon dioxide imported into Belgium declined to X tons, waning by -11.6% on the previous year. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 45% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, carbon dioxide imports soared to $X in 2022. In general, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.0% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest carbon dioxide supplier to Belgium, with a 72% share of total imports. Moreover, carbon dioxide imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. France (X tons) ranked third in terms of total imports with a 1% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+3.7% per year) and France (-11.9% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of carbon dioxide to Belgium, comprising 87% of total imports. The second position in the ranking was held by Germany ($X), with a 5% share of total imports. It was followed by France, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands amounted to +7.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-1.4% per year) and France (-8.0% per year).

Import Prices by Country

The average carbon dioxide import price stood at $X per ton in 2022, rising by 55% against the previous year. Over the period under review, the import price enjoyed notable growth. The pace of growth appeared the most rapid in 2018 when the average import price increased by 77%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+31.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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