Denmark: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Denmark

The Danish carbon dioxide market declined to $X in 2022, waning by -10.7% against the previous year. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -11.0% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Carbon Dioxide Production in Denmark

In value terms, carbon dioxide production expanded slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a moderate expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 64%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Carbon Dioxide Exports

Exports from Denmark

In 2022, the amount of carbon dioxide exported from Denmark soared to X tons, rising by 17% on 2021 figures. Over the period under review, exports showed resilient growth. The most prominent rate of growth was recorded in 2018 when exports increased by 52%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, carbon dioxide exports declined modestly to $X in 2022. Overall, exports posted a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 70%. Over the period under review, the exports attained the maximum at $X in 2021, and then dropped modestly in the following year.

Exports by Country

Germany (X tons) was the main destination for carbon dioxide exports from Denmark, accounting for a 79% share of total exports. Moreover, carbon dioxide exports to Germany exceeded the volume sent to the second major destination, Norway (X tons), eightfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +20.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+12.3% per year) and Sweden (+0.1% per year).

In value terms, Germany ($X) remains the key foreign market for carbon dioxide exports from Denmark, comprising 41% of total exports. The second position in the ranking was held by Sweden ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Germany stood at +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+4.8% per year) and Norway (+8.2% per year).

Export Prices by Country

In 2022, the average carbon dioxide export price amounted to $X per ton, waning by -17.7% against the previous year. In general, the export price saw a abrupt setback. The pace of growth appeared the most rapid in 2018 when the average export price increased by 12%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Germany ($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 Sweden (+4.7%), while the prices for the other major destinations experienced a decline.

Carbon Dioxide Imports

Imports into Denmark

In 2022, approx. X tons of carbon dioxide were imported into Denmark; with a decrease of -15.2% on the previous year's figure. Overall, imports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2020 when imports increased by 24%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, carbon dioxide imports fell to $X in 2022. In general, imports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 43% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted in the following year.

Imports by Country

Norway (X tons), Sweden (X tons) and Germany (X tons) were the main suppliers of carbon dioxide imports to Denmark, together comprising 83% of total imports. Hungary, Estonia, Italy, Finland, Thailand, Taiwan (Chinese), the Netherlands and the UK lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of +135.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), Sweden ($X) and Estonia ($X) were the largest carbon dioxide suppliers to Denmark, together comprising 71% of total imports. Finland, Hungary, Taiwan (Chinese), Italy, Germany, Thailand, the Netherlands and the UK lagged somewhat behind, together accounting for a further 27%.

In terms of the main suppliers, Finland, with a CAGR of +185.3%, recorded 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

The average carbon dioxide import price stood at $X per ton in 2022, growing by 16% against the previous year. In general, the import price saw a strong increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 56%. The import price peaked in 2022 and is likely to see steady 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 Estonia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+37.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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