Belgium: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in Belgium

In 2022, the Belgian azo- or azoxy-compounds market decreased by -6% to $X, falling for the fourth consecutive year after three years of growth. Overall, consumption recorded a perceptible descent. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Azo- Or Azoxy-Compounds Production in Belgium

In value terms, azo- or azoxy-compounds production soared to $X in 2022 estimated in export price. Over the period under review, production continues to indicate prominent growth. Azo- or azoxy-compounds production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Azo- Or Azoxy-Compounds Exports

Exports from Belgium

In 2022, exports of diazo-, azo- or azoxy-compounds from Belgium shrank significantly to X tons, falling by -92.2% on the previous year's figure. In general, exports saw a significant decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 447% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, azo- or azoxy-compounds exports fell significantly to $X in 2022. Over the period under review, exports recorded a precipitous slump. The pace of growth appeared the most rapid in 2019 with an increase of 372%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

The UK (X tons) was the main destination for azo- or azoxy-compounds exports from Belgium, with a 43% share of total exports. Moreover, azo- or azoxy-compounds exports to the UK exceeded the volume sent to the second major destination, Brazil (X tons), twofold. Germany (X tons) ranked third in terms of total exports with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK totaled -18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+59.8% per year) and Germany (-22.3% per year).

In value terms, the UK ($X) emerged as the key foreign market for diazo-, azo- or azoxy-compounds exports from Belgium, comprising 70% of total exports. The second position in the ranking was taken by Germany ($X), with a 10% share of total exports. It was followed by Brazil, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to the UK amounted to -10.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-15.2% per year) and Brazil (+74.4% per year).

Export Prices by Country

The average azo- or azoxy-compounds export price stood at $X per ton in 2022, with an increase of 79% against the previous year. Over the period under review, the export price showed a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Luxembourg ($X per ton), while the average price for exports to Egypt ($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 Luxembourg (+50.9%), while the prices for the other major destinations experienced more modest paces of growth.

Azo- Or Azoxy-Compounds Imports

Imports into Belgium

In 2022, supplies from abroad of diazo-, azo- or azoxy-compounds decreased by -59.6% to X tons, falling for the third consecutive year after four years of growth. Over the period under review, imports saw a deep downturn. The pace of growth was the most pronounced in 2017 when imports increased by 16% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, azo- or azoxy-compounds imports dropped rapidly to $X in 2022. In general, imports showed a deep slump. The pace of growth was the most pronounced in 2016 with an increase of 28% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Italy (X tons) and the Netherlands (X tons) were the main suppliers of azo- or azoxy-compounds imports to Belgium, with a combined 82% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +85.8%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X), China ($X) and the Netherlands ($X) constituted the largest azo- or azoxy-compounds suppliers to Belgium, together comprising 79% of total imports. Italy, Latvia, Spain, France, the United States and Indonesia lagged somewhat behind, together accounting for a further 18%.

Italy, with a CAGR of +88.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average azo- or azoxy-compounds import price amounted to $X per ton, picking up by 30% against the previous year. Overall, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, azo- or azoxy-compounds import price increased by +69.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 34%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

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 Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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