EU: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in the EU

In 2022, the EU sulphuric acid market increased by 35% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Sulphuric Acid Production in the EU

In value terms, sulphuric acid production surged to $X in 2022 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2022: its value 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, production increased by +75.9% against 2020 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Sulphuric Acid Exports

Exports in the EU

In 2022, overseas shipments of sulphuric acid and oleum increased by 34% to X tons, rising for the second consecutive year after two years of decline. In general, exports recorded moderate growth. The growth pace was the most rapid in 2021 with an increase of 62% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, sulphuric acid exports soared to $X in 2022. Overall, exports posted a temperate expansion. The growth pace was the most rapid in 2021 when exports increased by 77%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Bulgaria was the largest exporting country with an export of around X tons, which amounted to 50% of total exports. It was distantly followed by Germany (X tons), Sweden (X tons), Belgium (X tons), Spain (X tons) and Poland (X tons), together committing a 38% share of total exports. The Netherlands (X tons) took a little share of total exports.

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. At the same time, the Netherlands (+3.3%), Sweden (+3.3%) and Belgium (+1.6%) displayed positive paces of growth. Poland experienced a relatively flat trend pattern. By contrast, Spain (-2.0%) and Germany (-4.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Bulgaria increased by +29 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sulphuric acid supplying countries in the European Union were Bulgaria ($X), Germany ($X) and Belgium ($X), with a combined 51% share of total exports.

In terms of the main exporting countries, Bulgaria, with a CAGR of +14.2%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2022, with an increase of 3.4% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the export price increased by 28% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while Bulgaria ($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 more modest paces of growth.

Sulphuric Acid Imports

Imports in the EU

For the third consecutive year, the European Union recorded growth in overseas purchases of sulphuric acid and oleum, which increased by 16% to X tons in 2022. The total import volume increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 19%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, sulphuric acid imports soared to $X in 2022. In general, imports posted a prominent increase. The pace of growth was the most pronounced in 2021 when imports increased by 41%. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Germany (X tons), distantly followed by France (X tons), the Netherlands (X tons), Belgium (X tons), Spain (X tons), Portugal (X tons), Cyprus (X tons) and Ireland (X tons) represented the major importers of sulphuric acid and oleum, together generating 80% of total imports. The following importers - Italy (X tons), Slovakia (X tons), the Czech Republic (X tons) and Romania (X tons) - together made up 11% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cyprus (with a CAGR of +77.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the Netherlands ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 51% of total imports. Spain, Portugal, Ireland, Belgium, Italy, Cyprus, the Czech Republic, Slovakia and Romania lagged somewhat behind, together accounting for a further 34%.

Among the main importing countries, Ireland, with a CAGR of +21.1%, saw 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 import price in the European Union stood at $X per ton in 2022, growing by 17% against the previous year. Import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.4% 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 +49.6% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by 28% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

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 France ($X per ton), while Belgium ($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 (+8.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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