Finland: Isocyanates Market 2024

Isocyanates Market Size in Finland

The Finnish isocyanates market shrank remarkably to $X in 2022, waning by X% against the previous year. Over the period under review, consumption showed a deep reduction. Isocyanates consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Isocyanates Production in Finland

In value terms, isocyanates production reduced to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. Isocyanates production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Isocyanates Exports

Exports from Finland

In 2022, overseas shipments of isocyanates increased by X% to X tons, rising for the second consecutive year after four years of decline. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, isocyanates exports skyrocketed to $X in 2022. Overall, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for isocyanates exports from Finland, with a X% share of total exports. Moreover, isocyanates exports to Russia exceeded the volume sent to the second major destination, Belarus (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Russia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (X% per year) and Estonia (X% per year).

In value terms, Russia ($X) remains the key foreign market for isocyanates exports from Finland, comprising X% of total exports. The second position in the ranking was taken by Belarus ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (X% per year) and Estonia (X% per year).

Export Prices by Country

The average isocyanates export price stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price recorded a sharp downturn. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Russia ($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 Poland (X%), while the prices for the other major destinations experienced a decline.

Isocyanates Imports

Imports into Finland

In 2022, isocyanates imports into Finland fell notably to X tons, which is down by X% compared with the previous year's figure. Overall, imports saw a abrupt shrinkage. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, isocyanates imports declined to $X in 2022. Over the period under review, imports saw a perceptible shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of isocyanates to Finland, with a X% share of total imports. Moreover, isocyanates imports from Germany exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (X% per year) and the Netherlands (X% per year).

In value terms, the largest isocyanates suppliers to Finland were Germany ($X), Sweden ($X) and Hungary ($X), with a combined X% share of total imports. The Netherlands, Japan, the United States and Belgium lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the United States, with a CAGR of X%, 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

In 2022, the average isocyanates import price amounted to $X per ton, rising by X% against the previous year. In general, import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, isocyanates import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure 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 Sweden ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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