Greece: Hydrogen Chloride Market 2024

Hydrogen Chloride Market Size in Greece

In 2021, the Greek hydrogen chloride market increased by 23% to $X, rising for the third year in a row after four years of decline. In general, consumption, however, recorded a abrupt curtailment. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Hydrogen Chloride Production in Greece

In value terms, hydrogen chloride production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production, however, showed a abrupt slump. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Hydrogen Chloride Exports

Exports from Greece

For the third consecutive year, Greece recorded growth in shipments abroad of hydrogen chloride (hydrochloric acid), which increased by 12% to X tons in 2021. Over the period under review, total exports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +116.3% against 2015 indices. The pace of growth appeared the most rapid in 2016 when exports increased by 74%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, hydrogen chloride exports soared to $X in 2021. In general, exports saw a tangible increase. The growth pace was the most rapid in 2016 with an increase of 82% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see steady growth in years to come.

Exports by Country

Albania (X tons), North Macedonia (X tons) and Kosovo (X tons) were the main destinations of hydrogen chloride exports from Greece, together accounting for 93% of total exports.

From 2012 to 2021, the biggest increases were recorded for Kosovo (with a CAGR of +357.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Albania ($X), North Macedonia ($X) and Kosovo ($X) were the largest markets for hydrogen chloride exported from Greece worldwide, with a combined 81% share of total exports.

Among the main countries of destination, Kosovo, with a CAGR of +404.6%, saw the highest growth rate of 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

The average hydrogen chloride export price stood at $X per ton in 2021, with an increase of 20% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2014 when the average export price increased by 31% against the previous year. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Cyprus ($X per ton), while the average price for exports to North Macedonia ($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 Kosovo (+10.7%), while the prices for the other major destinations experienced mixed trend patterns.

Hydrogen Chloride Imports

Imports into Greece

In 2021, supplies from abroad of hydrogen chloride (hydrochloric acid) increased by 9.5% to X tons for the first time since 2016, thus ending a four-year declining trend. In general, imports continue to indicate resilient growth. The pace of growth was the most pronounced in 2014 with an increase of 335%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, hydrogen chloride imports skyrocketed to $X in 2021. Over the period under review, imports showed buoyant growth. The most prominent rate of growth was recorded in 2014 when imports increased by 241%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Hungary (X tons) constituted the largest hydrogen chloride supplier to Greece, with a 58% share of total imports. Moreover, hydrogen chloride imports from Hungary exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was taken by Bulgaria (X tons), with a 9.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Hungary stood at +29.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+30.7% per year) and Bulgaria (+63.4% per year).

In value terms, Hungary ($X), Germany ($X) and Bulgaria ($X) appeared to be the largest hydrogen chloride suppliers to Greece, with a combined 80% share of total imports.

Bulgaria, with a CAGR of +53.3%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average hydrogen chloride import price amounted to $X per ton, jumping by 18% against the previous year. Over the period under review, the import price, however, saw a pronounced contraction. The most prominent rate of growth was recorded in 2020 when the average import price increased by 28%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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 Bulgaria ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+11.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :