CIS: Sulphur Market 2024

Sulphur Market Size in CIS

The CIS sulphur market declined sharply to $X in 2022, which is down by -33% against the previous year. The total consumption indicated a slight expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +2.8% against 2020 indices. As a result, consumption attained the peak level of $X, and then dropped rapidly in the following year.

Sulphur Production in CIS

In value terms, sulphur production shrank modestly to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 15% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Sulphur Exports

Exports in CIS

In 2022, the amount of sulphur exported in the CIS skyrocketed to X tons, rising by 62% compared with 2021. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sulphur exports soared to $X in 2022. Overall, exports, however, saw a pronounced decrease. The pace of growth was the most pronounced in 2018 when exports increased by 79%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Kazakhstan (X tons) was the key exporter of sulphur, achieving 67% of total exports. It was distantly followed by Russia (X tons), achieving a 29% share of total exports. Uzbekistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sulphur exports from Kazakhstan stood at +4.6%. At the same time, Uzbekistan (+29.8%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +29.8% from 2012-2022. By contrast, Russia (-4.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Kazakhstan and Uzbekistan increased by +20 and +3.7 percentage points, respectively.

In value terms, Kazakhstan ($X) emerged as the largest sulphur supplier in the CIS, comprising 61% of total exports. The second position in the ranking was taken by Russia ($X), with a 30% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Kazakhstan was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Russia (-9.6% per year) and Uzbekistan (+31.5% per year).

Export Prices by Country

The export price in the CIS stood at $X per ton in 2022, falling by -22.4% against the previous year. In general, the export price continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2021 when the export price increased by 108% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+1.4%), while the other leaders experienced a decline in the export price figures.

Sulphur Imports

Imports in CIS

In 2022, sulphur imports in the CIS contracted to X tons, dropping by -7.6% compared with the year before. Over the period under review, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2018 with an increase of 132% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, sulphur imports reached $X in 2022. In general, imports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 with an increase of 205% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Russia (X tons) represented the key importer of sulphur, comprising 80% of total imports. It was distantly followed by Belarus (X tons), constituting an 18% share of total imports.

Russia was also the fastest-growing in terms of the sulphur imports, with a CAGR of +12.7% from 2012 to 2022. Belarus (-3.8%) illustrated a downward trend over the same period. Russia (+33 p.p.) significantly strengthened its position in terms of the total imports, while Belarus saw its share reduced by -34% from 2012 to 2022, respectively.

In value terms, the largest sulphur importing markets in the CIS were Belarus ($X) and Russia ($X).

Belarus, with a CAGR of +12.6%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review.

Import Prices by Country

In 2022, the import price in the CIS amounted to $X per ton, increasing by 9.6% against the previous year. Over the period under review, the import price recorded notable growth. The most prominent rate of growth was recorded in 2021 an increase of 176% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Belarus ($X per ton), while Russia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+17.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :