Europe: Sulphur Market 2024

Sulphur Market Size in Europe

The Europe sulphur market dropped to $X in 2022, shrinking by -12.6% against the previous year. In general, consumption recorded a slight curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sulphur Production in Europe

In value terms, sulphur production reduced rapidly to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the production volume increased by 47% against the previous year. As a result, production reached the peak level of $X, and then shrank rapidly in the following year.

Sulphur Exports

Exports in Europe

In 2022, overseas shipments of sulphur were finally on the rise to reach X tons after two years of decline. Overall, exports, however, continue to indicate a perceptible curtailment. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, sulphur exports soared to $X in 2022. In general, exports, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2021 with an increase of 79%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Russia prevails in exports structure, amounting to X tons, which was approx. 55% of total exports in 2022. The Netherlands (X tons) ranks second in terms of the total exports with a 9.5% share, followed by Spain (6.7%), Germany (6%) and Greece (5.1%). Poland (X tons), Italy (X tons) and Bulgaria (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to sulphur exports from Russia stood at -4.7%. At the same time, Bulgaria (+8.5%) and Greece (+3.7%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Europe, with a CAGR of +8.5% from 2012-2022. By contrast, the Netherlands (-1.8%), Spain (-3.1%), Germany (-5.9%), Italy (-11.4%) and Poland (-11.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Greece and the Netherlands increased by +2.8 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest sulphur supplying countries in Europe were Russia ($X), the Netherlands ($X) and Germany ($X), together accounting for 52% of total exports. Spain, Poland, Greece, Italy and Bulgaria lagged somewhat behind, together accounting for a further 34%.

Bulgaria, with a CAGR of +17.4%, saw the highest growth rate of the value of exports, among the main exporting countries 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 Europe stood at $X per ton in 2022, surging by 2.8% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the export price increased by 137% against the previous year. Over the period under review, the export prices reached the maximum 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 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 Italy (+9.6%), while the other leaders experienced more modest paces of growth.

Sulphur Imports

Imports in Europe

In 2022, the amount of sulphur imported in Europe shrank to X tons, with a decrease of -12.1% compared with the year before. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 26%. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, sulphur imports soared to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +153.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 98%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

Russia (X tons) and Belgium (X tons) represented roughly 49% of total imports in 2022. The Netherlands (X tons) ranks next in terms of the total imports with an 8.7% share, followed by France (6.9%), Belarus (6.1%) and Sweden (5.5%). Ukraine (X tons), Lithuania (X tons), the Czech Republic (X tons), Greece (X tons), Slovenia (X tons), Austria (X tons) and Germany (X tons) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Sweden (with a CAGR of +12.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constitutes the largest market for imported sulphur in Europe, comprising 27% of total imports. The second position in the ranking was held by France ($X), with a 12% share of total imports. It was followed by Belarus, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Belgium amounted to +4.4%. The remaining importing countries recorded the following average annual rates of imports growth: France (+8.7% per year) and Belarus (+12.6% per year).

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, rising by 46% against the previous year. Import price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphur import price increased by +165.0% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 82%. The level of import peaked in 2022 and is likely to see steady growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belarus (+17.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform