CIS: Sulphites Market 2024

Sulphites Market Size in CIS

The CIS sulphites market was finally on the rise to reach $X in 2022, after two years of decline. The total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Sulphites Production in CIS

In value terms, sulphites production fell to $X in 2022 estimated in export price. The total production indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.9% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 57%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Sulphites Exports

Exports in CIS

In 2022, shipments abroad of sulphites decreased by -42.1% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, showed a measured expansion. The most prominent rate of growth was recorded in 2021 with an increase of 58%. As a result, the exports reached the peak of X tons, and then fell markedly in the following year.

In value terms, sulphites exports declined dramatically to $X in 2022. Overall, exports, however, continue to indicate a slight increase. The pace of growth was the most pronounced in 2016 with an increase of 33% against the previous year. The level of export peaked at $X in 2021, and then dropped markedly in the following year.

Exports by Country

Belarus was the main exporter of sulphites in the CIS, with the volume of exports finishing at X tons, which was approx. 66% of total exports in 2022. Russia (X tons) held the second position in the ranking, distantly followed by Kyrgyzstan (X tons). All these countries together took approx. 34% share of total exports.

Belarus experienced a relatively flat trend pattern with regard to volume of exports of sulphites. At the same time, Russia (+29.9%) and Kyrgyzstan (+28.5%) displayed positive paces of growth. Moreover, Russia emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +29.9% from 2012-2022. While the share of Russia (+20 p.p.) and Kyrgyzstan (+9.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Belarus (-29.9 p.p.) displayed negative dynamics.

In value terms, the largest sulphites supplying countries in the CIS were Belarus ($X), Russia ($X) and Kyrgyzstan ($X), together comprising 95% of total exports.

Russia, with a CAGR of +26.8%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, growing by 30% against the previous year. Over the period under review, the export price, however, saw a perceptible decrease. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (-2.4%), while the other leaders experienced a decline in the export price figures.

Sulphites Imports

Imports in CIS

In 2022, the amount of sulphites imported in the CIS surged to X tons, increasing by 21% on the previous year's figure. Total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% 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 +101.6% against 2013 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 36% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, sulphites imports surged to $X in 2022. Total imports indicated a notable 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 +136.9% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons) and Kazakhstan (X tons) prevails in imports structure, together comprising 86% of total imports. Kyrgyzstan (X tons) took a 6.1% share (based on physical terms) of total imports, which put it in second place, followed by Uzbekistan (5.3%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Uzbekistan (with a CAGR of +35.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sulphites importing markets in the CIS were Kazakhstan ($X), Russia ($X) and Kyrgyzstan ($X), together accounting for 90% of total imports. These countries were followed by Uzbekistan, which accounted for a further 4%.

In terms of the main importing countries, Uzbekistan, with a CAGR of +18.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, picking up by 18% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+6.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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