Greece: Ketone And Quinone Market 2024

Ketone And Quinone Market Size in Greece

In 2021, the Greek ketone and quinone market increased by 22% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +27.2% against 2019 indices. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Ketone And Quinone Exports

Exports from Greece

In 2021, overseas shipments of ketones and quinones decreased by -31.3% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, exports saw a noticeable decline. The most prominent rate of growth was recorded in 2017 when exports increased by 126%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, ketone and quinone exports surged to $X in 2021. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 118%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Romania (X tons), Albania (X tons) and Bulgaria (X tons) were the main destinations of ketone and quinone exports from Greece, together comprising 71% of total exports. North Macedonia, Cyprus, Serbia and the UK lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2021, the biggest increases were recorded for North Macedonia (with a CAGR of +156.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) emerged as the key foreign market for ketones and quinones exports from Greece, comprising 51% of total exports. The second position in the ranking was taken by Bulgaria ($X), with a 16% share of total exports. It was followed by Cyprus, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value to Romania amounted to +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+26.5% per year) and Cyprus (+11.8% per year).

Export Prices by Country

The average ketone and quinone export price stood at $X per ton in 2021, surging by 97% against the previous year. Overall, export price indicated moderate growth from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Serbia ($X per ton), while the average price for exports to North Macedonia ($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 Belgium (+28.8%), while the prices for the other major destinations experienced more modest paces of growth.

Ketone And Quinone Imports

Imports into Greece

In 2021, the amount of ketones and quinones imported into Greece soared to X tons, jumping by 21% on the previous year. Overall, total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.5% against 2016 indices. The growth pace was the most rapid in 2013 with an increase of 106% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, ketone and quinone imports soared to $X in 2021. In general, total imports indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +35.6% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 56%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey (X tons), Bulgaria (X tons) and the Netherlands (X tons) were the main suppliers of ketone and quinone imports to Greece, together accounting for 58% of total imports. These countries were followed by Belgium, China, Brazil, Russia, India, Germany, Spain and Italy, which together accounted for a further 38%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +69.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Turkey ($X) and China ($X) appeared to be the largest ketone and quinone suppliers to Greece, with a combined 42% share of total imports. Bulgaria, the Netherlands, Germany, Spain, Brazil, Russia, India and Italy lagged somewhat behind, together accounting for a further 49%.

Brazil, with a CAGR of +87.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ketone and quinone import price stood at $X per ton in 2021, approximately equating the previous year. Over the period under review, the import price recorded a slight slump. The pace of growth appeared the most rapid in 2014 when the average import price increased by 28%. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Spain ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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