Estonia: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Estonia

In 2022, the Estonian plant-growth regulators market increased by 20% to $X, rising for the fourth consecutive year after two years of decline. Over the period under review, consumption enjoyed a prominent increase. Plant-growth regulators consumption peaked in 2022 and is expected to retain growth in the near future.

Plant-Growth Regulators Exports

Exports from Estonia

In 2022, after three years of decline, there was significant growth in overseas shipments of plant-growth regulators, when their volume increased by 33% to X tons. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 548%. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, plant-growth regulators exports surged to $X in 2022. Over the period under review, exports, however, recorded a abrupt decrease. The pace of growth was the most pronounced in 2016 with an increase of 536% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Ukraine (X tons) was the main destination for plant-growth regulators exports from Estonia, accounting for a 47% share of total exports. Moreover, plant-growth regulators exports to Ukraine exceeded the volume sent to the second major destination, Finland (X tons), threefold. Canada (X tons) ranked third in terms of total exports with a 17% share.

From 2012 to 2022, the average annual growth rate of volume to Ukraine stood at +7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (+23.6% per year) and Canada (+1,215.8% per year).

In value terms, Ukraine ($X) remains the key foreign market for plant-growth regulators exports from Estonia, comprising 42% of total exports. The second position in the ranking was held by Latvia ($X), with a 20% share of total exports. It was followed by Finland, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ukraine amounted to -11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (-22.9% per year) and Finland (+11.7% per year).

Export Prices by Country

In 2022, the average plant-growth regulators export price amounted to $X per ton, surging by 49% against the previous year. Over the period under review, the export price, however, saw a drastic downturn. Over the period under review, the average export prices reached the peak figure 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 for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Canada ($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 Denmark (+24.1%), while the prices for the other major destinations experienced mixed trend patterns.

Plant-Growth Regulators Imports

Imports into Estonia

In 2022, supplies from abroad of plant-growth regulators increased by 29% to X tons, rising for the fourth consecutive year after two years of decline. Overall, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.5% 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 +107.2% against 2018 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 49%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, plant-growth regulators imports surged to $X in 2022. In general, imports showed a strong increase. The pace of growth appeared the most rapid in 2016 when imports increased by 68% against the previous year. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Ireland (X tons), Germany (X tons) and Austria (X tons) were the main suppliers of plant-growth regulators imports to Estonia, with a combined 52% share of total imports. France, the Netherlands, Poland, Belgium, the UK, Lithuania, Hungary, Israel, Switzerland and Sweden lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +70.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest plant-growth regulators suppliers to Estonia were Germany ($X), France ($X) and Ireland ($X), together accounting for 50% of total imports. The Netherlands, Poland, Hungary, Switzerland, Belgium, the UK, Lithuania, Austria, Israel and Sweden lagged somewhat behind, together accounting for a further 43%.

Among the main suppliers, Hungary, with a CAGR of +54.2%, saw the highest rates of growth with regard to 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 average plant-growth regulators import price amounted to $X per ton, reducing by -9.7% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 34%. As a result, import price attained the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+9.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform