Eastern Europe: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Eastern Europe

In 2022, the East European sulphuric acid market increased by 2.8% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Sulphuric Acid Production in Eastern Europe

In value terms, sulphuric acid production reached $X in 2022 estimated in export price. In general, production, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 81% 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.

Sulphuric Acid Exports

Exports in Eastern Europe

In 2022, shipments abroad of sulphuric acid and oleum increased by 71% to X tons, rising for the second consecutive year after two years of decline. Overall, exports recorded resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by 78%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, sulphuric acid exports soared to $X in 2022. Over the period under review, exports posted a resilient increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bulgaria prevails in exports structure, resulting at X tons, which was near 82% of total exports in 2022. Russia (X tons) ranks second in terms of the total exports with an 8% share, followed by Poland (7.7%).

Bulgaria was also the fastest-growing in terms of the sulphuric acid and oleum exports, with a CAGR of +13.8% from 2012 to 2022. Poland experienced a relatively flat trend pattern. Russia (-5.5%) illustrated a downward trend over the same period. While the share of Bulgaria (+33 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Poland (-9 p.p.) and Russia (-22.9 p.p.) displayed negative dynamics.

In value terms, Bulgaria ($X) remains the largest sulphuric acid supplier in Eastern Europe, comprising 59% of total exports. The second position in the ranking was taken by Poland ($X), with a 22% share of total exports.

In Bulgaria, sulphuric acid exports increased at an average annual rate of +14.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+9.6% per year) and Russia (-6.7% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2022, picking up by 12% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 31%. The level of export peaked at $X per ton in 2019; however, from 2020 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 Poland ($X per ton), while Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+9.6%), while the other leaders experienced mixed trends in the export price figures.

Sulphuric Acid Imports

Imports in Eastern Europe

In 2022, purchases abroad of sulphuric acid and oleum increased by 0.8% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% 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 +14.1% against 2020 indices. The pace of growth was the most pronounced in 2015 when imports increased by 39%. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sulphuric acid imports surged to $X in 2022. Overall, imports recorded a strong expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 56%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Slovakia (X tons), the Czech Republic (X tons), Romania (X tons), Lithuania (X tons), Belarus (X tons), Russia (X tons), Hungary (X tons) and Poland (X tons) was the largest importer of sulphuric acid and oleum in Eastern Europe, generating 93% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Belarus (with a CAGR of +45.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Slovakia ($X) and Romania ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 50% of total imports. Belarus, Poland, Lithuania, Hungary and Russia lagged somewhat behind, together comprising a further 40%.

Belarus, with a CAGR of +27.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 Eastern Europe amounted to $X per ton, rising by 32% against the previous year. Import price indicated a resilient expansion from 2012 to 2022: its price 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, sulphuric acid import price increased by +86.4% against 2017 indices. 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 Poland ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+17.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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