Finland: Market for Nitric Acid And Sulphonitric Acids 2024

Market Size for Nitric Acid And Sulphonitric Acids in Finland

In 2021, the Finnish nitric and sulphonitric acids market decreased by -18.5% to $X, falling for the fourth year in a row after three years of growth. Overall, consumption showed a deep downturn. Nitric and sulphonitric acids consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Production of Nitric Acid And Sulphonitric Acids in Finland

In value terms, nitric and sulphonitric acids production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a abrupt curtailment. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Finland

After three years of decline, overseas shipments of nitric acid and sulphonitric acids increased by 96% to X tons in 2021. In general, exports, however, continue to indicate a sharp downturn. The pace of growth was the most pronounced in 2017 when exports increased by 123% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, nitric and sulphonitric acids exports skyrocketed to $X in 2021. Over the period under review, exports, however, faced a deep slump. The pace of growth was the most pronounced in 2017 when exports increased by 152%. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for nitric and sulphonitric acids exports from Finland, accounting for a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden amounted to -15.5%.

In value terms, Sweden ($X) also remains the key foreign market for nitric acid and sulphonitric acids exports from Finland.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden amounted to -13.2%.

Export Prices by Country

The average nitric and sulphonitric acids export price stood at $X per ton in 2021, growing by 3.6% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, nitric and sulphonitric acids export price increased by +110.0% against 2016 indices. The pace of growth appeared the most rapid in 2018 when the average export price increased by 26% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Sweden.

From 2012 to 2021, the rate of growth in terms of prices for Norway amounted to +23.8% per year.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Finland

In 2021, approx. X tons of nitric acid and sulphonitric acids were imported into Finland; waning by -50.4% against the year before. Overall, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2018 when imports increased by 1,049% against the previous year. Imports peaked at X tons in 2020, and then fell markedly in the following year.

In value terms, nitric and sulphonitric acids imports rose slightly to $X in 2021. Over the period under review, imports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 when imports increased by 172% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Norway (X tons), Lithuania (X tons) and Poland (X tons) were the main suppliers of nitric and sulphonitric acids imports to Finland, with a combined 85% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Norway (with a CAGR of +147.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Norway ($X) and Poland ($X) were the largest nitric and sulphonitric acids suppliers to Finland, with a combined 71% share of total imports.

Among the main suppliers, Norway, with a CAGR of +144.9%, recorded the highest rates of growth with regard to 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 nitric and sulphonitric acids import price stood at $X per ton in 2021, growing by 108% against the previous year. In general, the import price, however, continues to indicate a perceptible contraction. The most prominent rate of growth was recorded in 2015 when the average import price increased by 128% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Sweden ($X per ton), while the price for Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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