Benelux: Azo- Or Azoxy-Compounds Market 2024

Azo- Or Azoxy-Compounds Market Size in Benelux

In 2022, the Benelux azo- or azoxy-compounds market increased by 10% to $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Azo- Or Azoxy-Compounds Production in Benelux

In value terms, azo- or azoxy-compounds production skyrocketed to $X in 2022 estimated in export price. Over the period under review, production, however, saw a noticeable downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 61%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Azo- Or Azoxy-Compounds Exports

Exports in Benelux

In 2022, exports of diazo-, azo- or azoxy-compounds in Benelux contracted markedly to X tons, with a decrease of -90.5% against the year before. Over the period under review, exports continue to indicate a dramatic shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 93% 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 stood at a somewhat lower figure.

In value terms, azo- or azoxy-compounds exports declined significantly to $X in 2022. Overall, exports showed a dramatic contraction. The most prominent rate of growth was recorded in 2019 with an increase of 86% against the previous year. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Belgium (X tons) was the largest exporter of diazo-, azo- or azoxy-compounds, making up 57% of total exports. Luxembourg (X tons) held the second position in the ranking, followed by the Netherlands (X tons). All these countries together took approx. 43% share of total exports.

Exports from Belgium decreased at an average annual rate of -25.8% from 2012 to 2022. Luxembourg (-7.1%) and the Netherlands (-27.5%) illustrated a downward trend over the same period. Luxembourg (+19 p.p.) significantly strengthened its position in terms of the total exports, while Belgium and the Netherlands saw its share reduced by -9.5% and -9.8% from 2012 to 2022, respectively.

In value terms, Belgium ($X) remains the largest azo- or azoxy-compounds supplier in Benelux, comprising 81% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Belgium amounted to -20.8%. In the other countries, the average annual rates were as follows: the Netherlands (-26.8% per year) and Luxembourg (-6.7% per year).

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, increasing by 25% against the previous year. Export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of +3.7% 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 export price increased by +75.2% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the export price increased by 63% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+6.7%), while the other leaders experienced more modest paces of growth.

Azo- Or Azoxy-Compounds Imports

Imports in Benelux

Azo- or azoxy-compounds imports contracted significantly to X tons in 2022, with a decrease of -20.7% on 2021 figures. In general, imports recorded a pronounced slump. The pace of growth was the most pronounced in 2016 with an increase of 37%. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, azo- or azoxy-compounds imports fell remarkably to $X in 2022. Over the period under review, imports saw a pronounced reduction. The most prominent rate of growth was recorded in 2016 with an increase of 47% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) represented the key importer of diazo-, azo- or azoxy-compounds, achieving 72% of total imports. Belgium (X tons) held the second position in the ranking, distantly followed by Luxembourg (X tons). All these countries together held approx. 28% share of total imports.

Imports into the Netherlands increased at an average annual rate of +2.5% from 2012 to 2022. At the same time, Luxembourg (+8.4%) displayed positive paces of growth. Moreover, Luxembourg emerged as the fastest-growing importer imported in Benelux, with a CAGR of +8.4% from 2012-2022. By contrast, Belgium (-14.6%) illustrated a downward trend over the same period. While the share of the Netherlands (+34 p.p.) and Luxembourg (+7.2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Belgium (-41 p.p.) displayed negative dynamics.

In value terms, the Netherlands ($X), Belgium ($X) and Luxembourg ($X) appeared to be the countries with the highest levels of imports in 2022.

Luxembourg, with a CAGR of +9.6%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Benelux stood at $X per ton in 2022, leveling off at the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The most prominent rate of growth was recorded in 2013 when the import price increased by 18%. Over the period under review, import prices attained the peak figure at $X per ton in 2021, and then dropped modestly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belgium ($X per ton), while Luxembourg ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+8.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform