Europe: Sulphites Market 2024

Sulphites Market Size in Europe

In 2022, the Europe sulphites market increased by 12% to $X, rising for the eighth year in a row after two years of decline. The market value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is likely to see gradual growth in the near future.

Sulphites Production in Europe

In value terms, sulphites production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 when the production volume increased by 21%. The level of production peaked in 2022 and is likely to see steady growth in the immediate term.

Sulphites Exports

Exports in Europe

In 2022, shipments abroad of sulphites decreased by -2.6% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export volume increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 12% against the previous year. As a result, the exports attained the peak of X tons, and then shrank slightly in the following year.

In value terms, sulphites exports skyrocketed to $X in 2022. Overall, exports, however, continue to indicate strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Italy (X tons) was the largest exporter of sulphites, making up 64% of total exports. Belgium (X tons) ranks second in terms of the total exports with a 14% share, followed by the UK (7.7%). The following exporters - Spain (X tons), the Netherlands (X tons), Belarus (X tons) and France (X tons) - together made up 9.2% of total exports.

From 2012 to 2022, average annual rates of growth with regard to sulphites exports from Italy stood at +3.0%. At the same time, Spain (+10.4%) and the UK (+6.8%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in Europe, with a CAGR of +10.4% from 2012-2022. France, Belgium and Belarus experienced a relatively flat trend pattern. By contrast, the Netherlands (-9.2%) illustrated a downward trend over the same period. Italy (+3.7 p.p.) and the UK (+2.7 p.p.) significantly strengthened its position in terms of the total exports, while Belgium and the Netherlands saw its share reduced by -2.8% and -5.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Italy ($X) remains the largest sulphites supplier in Europe, comprising 66% of total exports. The second position in the ranking was held by the UK ($X), with an 8.4% share of total exports. It was followed by Belgium, with an 8.1% share.

In Italy, sulphites exports expanded at an average annual rate of +8.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the UK (+8.5% per year) and Belgium (+5.1% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, picking up by 57% against the previous year. Export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphites export price increased by +73.6% against 2020 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 France ($X per ton), while Belarus ($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 (+8.6%), while the other leaders experienced more modest paces of growth.

Sulphites Imports

Imports in Europe

In 2022, imports of sulphites in Europe contracted slightly to X tons, approximately reflecting the previous year's figure. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 7.6%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sulphites imports soared to $X in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.8% 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 +67.0% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

France represented the key importing country with an import of around X tons, which amounted to 28% of total imports. The Netherlands (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Spain (11%), Russia (5.6%) and Sweden (5.6%). The following importers - Belgium (X tons), Poland (X tons), Portugal (X tons), Germany (X tons), Austria (X tons), Norway (X tons), the UK (X tons) and Ireland (X tons) - each amounted to a 23% share of total imports.

Imports into France increased at an average annual rate of +3.6% from 2012 to 2022. At the same time, Sweden (+10.3%), Portugal (+7.0%), Ireland (+6.6%), Poland (+4.9%), Norway (+4.1%), Germany (+3.8%) and Russia (+3.4%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing importer imported in Europe, with a CAGR of +10.3% from 2012-2022. The UK, Spain and Austria experienced a relatively flat trend pattern. By contrast, the Netherlands (-2.1%) and Belgium (-6.1%) illustrated a downward trend over the same period. From 2012 to 2022, the share of France and Sweden increased by +4.6 and +3.1 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, France ($X) constitutes the largest market for imported sulphites in Europe, comprising 25% of total imports. The second position in the ranking was taken by Spain ($X), with an 11% share of total imports. It was followed by the Netherlands, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in France totaled +9.3%. The remaining importing countries recorded the following average annual rates of imports growth: Spain (+6.9% per year) and the Netherlands (+3.7% per year).

Import Prices by Country

The import price in Europe stood at $X per ton in 2022, with an increase of 39% against the previous year. Import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphites import price increased by +69.6% against 2020 indices. As a result, import price attained 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 the UK ($X per ton), while the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+6.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform