EU: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in the EU

In 2022, after three years of growth, there was decline in the EU carbon dioxide market, when its value decreased by -1.9% to $X. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +7.2% 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 +81.7% against 2015 indices. Over the period under review, the market hit record highs at $X in 2021, and then reduced in the following year.

Carbon Dioxide Production in the EU

In value terms, carbon dioxide production dropped to $X in 2022 estimated in export price. The total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +80.1% against 2015 indices. The pace of growth appeared the most rapid in 2017 with an increase of 26% against the previous year. The level of production peaked at $X in 2021, and then shrank in the following year.

Carbon Dioxide Exports

Exports in the EU

In 2022, overseas shipments of carbon dioxide decreased by -12.1% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 20% against the previous year. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, carbon dioxide exports totaled $X in 2022. In general, exports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 18%. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

The Netherlands was the key exporter of carbon dioxide in the European Union, with the volume of exports recording X tons, which was approx. 36% of total exports in 2022. Belgium (X tons) ranks second in terms of the total exports with a 15% share, followed by Hungary (15%), the Czech Republic (5.1%) and France (5%). The following exporters - Germany (X tons), Austria (X tons), Sweden (X tons), Denmark (X tons), Spain (X tons), Lithuania (X tons) and Latvia (X tons) - together made up 19% of total exports.

From 2012 to 2022, average annual rates of growth with regard to carbon dioxide exports from the Netherlands stood at -2.6%. At the same time, Denmark (+15.1%), Sweden (+12.1%), Hungary (+6.9%), Belgium (+5.0%), Latvia (+3.4%), Lithuania (+1.8%) and France (+1.6%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +15.1% from 2012-2022. By contrast, the Czech Republic (-2.1%), Spain (-2.4%), Austria (-3.0%) and Germany (-8.4%) illustrated a downward trend over the same period. Hungary (+7.6 p.p.), Belgium (+6.4 p.p.), Sweden (+2 p.p.) and Denmark (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Germany and the Netherlands saw its share reduced by -5.1% and -9.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the Netherlands ($X) remains the largest carbon dioxide supplier in the European Union, comprising 41% of total exports. The second position in the ranking was held by Belgium ($X), with a 9.3% share of total exports. It was followed by Sweden, with a 7.3% share.

In the Netherlands, carbon dioxide exports expanded at an average annual rate of +10.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (+10.2% per year) and Sweden (+14.1% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, surging by 18% against the previous year. Over the period under review, the export price enjoyed resilient growth. The growth pace was the most rapid in 2018 an increase of 31%. The level of export peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Lithuania ($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 Netherlands (+13.3%), while the other leaders experienced more modest paces of growth.

Carbon Dioxide Imports

Imports in the EU

In 2022, overseas purchases of carbon dioxide increased by 5.7% to X tons, rising for the sixth consecutive year after three years of decline. The total import volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 26%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, carbon dioxide imports shrank modestly to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.6% 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 +82.7% against 2015 indices. The most prominent rate of growth was recorded in 2020 with an increase of 24% against the previous year. The level of import peaked at $X in 2021, and then dropped slightly in the following year.

Imports by Country

In 2022, Germany (X tons) and the Netherlands (X tons) were the major importers of carbon dioxide in the European Union, together amounting to near 43% of total imports. Portugal (X tons) took the next position in the ranking, followed by Austria (X tons), Italy (X tons), Romania (X tons), Denmark (X tons) and France (X tons). All these countries together took approx. 35% share of total imports. The following importers - Greece (X tons), Sweden (X tons), Latvia (X tons), Ireland (X tons) and Bulgaria (X tons) - together made up 13% of total imports.

From 2012 to 2022, the biggest increases were recorded for Greece (with a CAGR of +10.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Sweden ($X) were the countries with the highest levels of imports in 2022, together accounting for 37% of total imports. The Netherlands, Denmark, Italy, Austria, Portugal, Romania, Greece, Latvia, Bulgaria and Ireland lagged somewhat behind, together accounting for a further 37%.

In terms of the main importing countries, Denmark, with a CAGR of +11.2%, 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

The import price in the European Union stood at $X per ton in 2022, reducing by -8.1% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2020 an increase of 20% against the previous year. The level of import peaked at $X per ton in 2021, and then reduced in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+13.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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