Denmark: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Denmark

For the third year in a row, the Danish nitric and sulphonitric acids market recorded decline in sales value, which decreased by -4.3% to $X in 2021. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Nitric Acid And Sulphonitric Acids in Denmark

In value terms, nitric and sulphonitric acids production rose notably to $X in 2021 estimated in export price. In general, production showed a strong increase. The pace of growth appeared the most rapid in 2018 with an increase of 80% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Denmark

In 2021, the amount of nitric acid and sulphonitric acids exported from Denmark surged to X tons, jumping by 147% against 2020. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 with an increase of 364% against the previous year. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, nitric and sulphonitric acids exports soared to $X in 2021. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for nitric and sulphonitric acids exports from Denmark, accounting for a 67% share of total exports. Moreover, nitric and sulphonitric acids exports to Germany exceeded the volume sent to the second major destination, Sweden (X tons), fivefold. The third position in this ranking was held by Italy (X tons), with a 9.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Germany stood at +101.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+32.4% per year) and Italy (+336.1% per year).

In value terms, Germany ($X) remains the key foreign market for nitric acid and sulphonitric acids exports from Denmark, comprising 51% of total exports. The second position in the ranking was taken by Italy ($X), with an 18% share of total exports. It was followed by Sweden, with a 16% share.

From 2012 to 2021, the average annual growth rate of value to Germany totaled +268.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+319.4% per year) and Sweden (+20.3% per year).

Export Prices by Country

In 2021, the average nitric and sulphonitric acids export price amounted to $X per ton, surging by 32% against the previous year. In general, the export price, however, saw a deep setback. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+82.5%), while the prices for the other major destinations experienced a decline.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Denmark

After four years of growth, purchases abroad of nitric acid and sulphonitric acids decreased by -9.4% to X tons in 2021. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 32%. Imports peaked at X tons in 2020, and then shrank in the following year.

In value terms, nitric and sulphonitric acids imports stood at $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 29% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Norway (X tons) was the main nitric and sulphonitric acids supplier to Denmark, with a 91% share of total imports. Moreover, nitric and sulphonitric acids imports from Norway exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume from Norway totaled +11.2%.

In value terms, Norway ($X) constituted the largest supplier of nitric acid and sulphonitric acids to Denmark, comprising 79% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Norway stood at +8.3%.

Import Prices by Country

The average nitric and sulphonitric acids import price stood at $X per ton in 2021, surging by 18% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable decrease. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Norway totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (-2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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