Belgium: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Belgium

The Belgian sulphuric acid market declined notably to $X in 2022, shrinking by -52.6% against the previous year. Over the period under review, consumption, however, saw prominent growth. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Sulphuric Acid Production in Belgium

In value terms, sulphuric acid production reduced markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 49%. As a result, production reached the peak level of $X, and then contracted significantly in the following year.

Sulphuric Acid Exports

Exports from Belgium

In 2022, overseas shipments of sulphuric acid and oleum increased by 12% to X tons, rising for the fourth year in a row after two years of decline. Overall, exports enjoyed a slight increase. The most prominent rate of growth was recorded in 2021 when exports increased by 105% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, sulphuric acid exports surged to $X in 2022. In general, exports saw a moderate expansion. The pace of growth was the most pronounced in 2021 when exports increased by 115%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

France (X tons), Brazil (X tons) and Germany (X tons) were the main destinations of sulphuric acid exports from Belgium, together accounting for 70% of total exports. The Netherlands, Morocco, the UK and Argentina lagged somewhat behind, together comprising a further 23%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Argentina (with a CAGR of +98.5%), while the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), France ($X) and Germany ($X) constituted the largest markets for sulphuric acid exported from Belgium worldwide, together comprising 59% of total exports.

Brazil, with a CAGR of +119.1%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average sulphuric acid export price amounted to $X per ton, rising by 19% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.1%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Germany ($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 Morocco (+11.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphuric Acid Imports

Imports into Belgium

In 2022, the amount of sulphuric acid and oleum imported into Belgium fell notably to X tons, declining by -38.5% compared with the previous year's figure. In general, imports, however, posted a temperate expansion. The growth pace was the most rapid in 2020 with an increase of 94%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, sulphuric acid imports dropped significantly to $X in 2022. Overall, imports recorded a perceptible descent. The most prominent rate of growth was recorded in 2020 with an increase of 96% against the previous year. Imports peaked at $X in 2021, and then declined sharply in the following year.

Imports by Country

The Netherlands (X tons), France (X tons) and Germany (X tons) were the main suppliers of sulphuric acid imports to Belgium, with a combined 99% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +14.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X), France ($X) and Germany ($X) constituted the largest sulphuric acid suppliers to Belgium, together accounting for 97% of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +7.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average sulphuric acid import price amounted to $X per ton, dropping by -11.3% against the previous year. Overall, the import price recorded a abrupt slump. The growth pace was the most rapid in 2021 an increase of 9.6%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Norway ($X per ton) and the Netherlands ($X per ton), while the price for France ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (-1.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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