Finland: Explosives Market 2024

Explosives Market Size in Finland

In 2021, the Finnish explosives market increased by 35% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, consumption, however, saw a noticeable downturn. Explosives consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Explosives Production in Finland

In value terms, explosives production soared to $X in 2021 estimated in export price. In general, production, however, saw a deep setback. Explosives production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Explosives Exports

Exports from Finland

In 2021, shipments abroad of prepared explosives increased by 5.2% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 39% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, explosives exports expanded significantly to $X in 2021. Overall, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2016 when exports increased by 36% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

Exports by Country

Sweden (X tons) was the main destination for explosives exports from Finland, accounting for a 65% share of total exports. Moreover, explosives exports to Sweden exceeded the volume sent to the second major destination, Norway (X tons), twofold. Estonia (X tons) ranked third in terms of total exports with a 2.8% share.

From 2012 to 2021, the average annual growth rate of volume to Sweden amounted to -2.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+17.1% per year) and Estonia (+7.8% per year).

In value terms, Sweden ($X), Estonia ($X) and Norway ($X) constituted the largest markets for explosives exported from Finland worldwide, with a combined 97% share of total exports. Iceland lagged somewhat behind, comprising a further 1%.

Among the main countries of destination, Iceland, with a CAGR of +58.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average explosives export price amounted to $X per ton, rising by 6.1% against the previous year. In general, export price indicated buoyant growth from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, explosives export price increased by +122.1% against 2015 indices. The most prominent rate of growth was recorded in 2016 an increase of 66% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+15.8%), while the prices for the other major destinations experienced more modest paces of growth.

Explosives Imports

Imports into Finland

In 2021, supplies from abroad of prepared explosives decreased by -5% to X tons, falling for the third consecutive year after seven years of growth. In general, imports, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2016 when imports increased by 97% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, explosives imports expanded rapidly to $X in 2021. Overall, imports, however, recorded a strong expansion. The growth pace was the most rapid in 2016 when imports increased by 70%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Russia (X tons) constituted the largest explosives supplier to Finland, accounting for a 82% share of total imports. Moreover, explosives imports from Russia exceeded the figures recorded by the second-largest supplier, Sweden (X tons), eightfold. Spain (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (+2.5% per year) and Spain (+35.2% per year).

In value terms, Russia ($X) constituted the largest supplier of prepared explosives to Finland, comprising 55% of total imports. The second position in the ranking was taken by Sweden ($X), with a 9.8% share of total imports. It was followed by Spain, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia totaled +16.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-4.2% per year) and Spain (+27.5% per year).

Import Prices by Country

In 2021, the average explosives import price amounted to $X per ton, surging by 13% against the previous year. In general, the import price, however, recorded a pronounced slump. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Russia ($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 (+6.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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