Greece: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Greece

The Greek carbon dioxide market surged to $X in 2022, jumping by 33% against the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +79.2% against 2020 indices. Carbon dioxide consumption peaked in 2022 and is likely to see gradual growth in years to come.

Carbon Dioxide Production in Greece

In value terms, carbon dioxide production fell to $X in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible expansion. The pace of growth appeared the most rapid in 2014 with an increase of 156%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Carbon Dioxide Exports

Exports from Greece

After two years of growth, shipments abroad of carbon dioxide decreased by -73.7% to X tons in 2022. In general, exports showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by 85% against the previous year. As a result, the exports reached the peak of X tons, and then fell dramatically in the following year.

In value terms, carbon dioxide exports contracted significantly to $X in 2022. Over the period under review, exports, however, posted a resilient increase. The growth pace was the most rapid in 2021 when exports increased by 122%. As a result, the exports reached the peak of $X, and then fell remarkably in the following year.

Exports by Country

Cyprus (X tons), Bulgaria (X tons) and Italy (X tons) were the main destinations of carbon dioxide exports from Greece, with a combined 97% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +1,599.7%), while the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X) remains the key foreign market for carbon dioxide exports from Greece, comprising 57% of total exports. The second position in the ranking was held by Italy ($X), with a 10% share of total exports. It was followed by Bulgaria, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value to Cyprus totaled +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+1,940.0% per year) and Bulgaria (+23.3% per year).

Export Prices by Country

The average carbon dioxide export price stood at $X per ton in 2022, growing by 182% against the previous year. Overall, the export price continues to indicate a resilient expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Romania ($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 Italy (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Carbon Dioxide Imports

Imports into Greece

In 2022, the amount of carbon dioxide imported into Greece skyrocketed to X tons, rising by 65% compared with 2021. In general, imports continue to indicate a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, carbon dioxide imports surged to $X in 2022. Overall, imports recorded a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by 43% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, North Macedonia (X tons) constituted the largest supplier of carbon dioxide to Greece, accounting for a 70% share of total imports. Moreover, carbon dioxide imports from North Macedonia exceeded the figures recorded by the second-largest supplier, Hungary (X tons), fourfold. The third position in this ranking was held by Japan (X tons), with a 5.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from North Macedonia stood at +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+66.3% per year) and Japan (+20.8% per year).

In value terms, North Macedonia ($X) constituted the largest supplier of carbon dioxide to Greece, comprising 84% of total imports. The second position in the ranking was held by Japan ($X), with an 8.9% share of total imports. It was followed by Germany, with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from North Macedonia stood at +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+15.7% per year) and Germany (+41.7% per year).

Import Prices by Country

The average carbon dioxide import price stood at $X per ton in 2022, declining by -14.5% against the previous year. In general, the import price recorded a slight setback. The most prominent rate of growth was recorded in 2021 an increase of 21%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Bulgaria ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+5.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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