Finland: Modified Starches Market 2024

Modified Starches Market Size in Finland

In 2022, the Finnish modified starches market increased by 12% to $X for the first time since 2018, thus ending a three-year declining trend. Over the period under review, consumption showed a pronounced contraction. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Modified Starches Production in Finland

In value terms, modified starches production soared to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Modified Starches Exports

Exports from Finland

In 2022, approx. X tons of dextrins and other modified starches were exported from Finland; shrinking by 99.9% compared with 2021 figures. Overall, exports showed a sharp decline. The most prominent rate of growth was recorded in 2021 when exports increased by 787,240% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, modified starches exports contracted remarkably to $X in 2022. In general, exports saw a sharp decline. The most prominent rate of growth was recorded in 2021 with an increase of 243,803% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for modified starches exports from Finland, accounting for a 88% share of total exports. Moreover, modified starches exports to Sweden exceeded the volume sent to the second major destination, the Czech Republic (X kg), more than tenfold. The United States (X kg) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden totaled -55.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+70.3% per year) and the United States (-21.8% per year).

In value terms, Sweden ($X) emerged as the key foreign market for dextrins and other modified starches exports from Finland, comprising 93% of total exports. The second position in the ranking was held by the Czech Republic ($X), with a 2.7% share of total exports. It was followed by Estonia, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Sweden amounted to -51.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Czech Republic (+44.0% per year) and Estonia (-41.3% per year).

Export Prices by Country

The average modified starches export price stood at $X per ton in 2022, growing by 102% against the previous year. Over the period under review, the export price showed prominent growth. The export price peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to the United States ($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 Russia (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Modified Starches Imports

Imports into Finland

For the fourth year in a row, Finland recorded decline in purchases abroad of dextrins and other modified starches, which decreased by -14.1% to X tons in 2022. Over the period under review, imports saw a abrupt descent. The most prominent rate of growth was recorded in 2018 with an increase of 1.7% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, modified starches imports fell to $X in 2022. Overall, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 6%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

France (X tons), Lithuania (X tons) and the Netherlands (X tons) were the main suppliers of modified starches imports to Finland, with a combined 82% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +20.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest modified starches suppliers to Finland were France ($X), Lithuania ($X) and the Netherlands ($X), together accounting for 68% of total imports. Germany, Italy, Sweden, Thailand, Slovakia and Denmark lagged somewhat behind, together comprising a further 26%.

Among the main suppliers, Italy, with a CAGR of +19.8%, recorded 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 average modified starches import price stood at $X per ton in 2022, rising by 5.9% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 17%. The import price peaked in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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