Greece: Market for Refractory Products of Siliceous or Diatomite Earths 2024

Market Size for Refractory Products of Siliceous or Diatomite Earths in Greece

After two years of decline, the Greek market for refractory products of siliceous or diatomite earths increased by 19% to $X in 2021. Overall, consumption, however, showed a abrupt downturn. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Exports of Refractory Products of Siliceous or Diatomite Earths

Exports from Greece

For the fourth consecutive year, Greece recorded decline in shipments abroad of refractory products of siliceous or diatomite earths, which decreased by -16.4% to X tons in 2021. Over the period under review, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2017 when exports increased by 3,261% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports of remained at a lower figure.

In value terms, exports of refractory products of siliceous or diatomite earths stood at $X in 2021. Overall, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 1,020%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Bulgaria (X tons) was the main destination for exports of refractory products of siliceous or diatomite earths from Greece, accounting for a 58% share of total exports. Moreover, exports of refractory products of siliceous or diatomite earths to Bulgaria exceeded the volume sent to the second major destination, the United States (X tons), twofold. Cyprus (X kg) ranked third in terms of total exports with an 8.4% share.

From 2012 to 2021, the average annual growth rate of volume to Bulgaria totaled +9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (-6.3% per year) and Cyprus (-5.7% per year).

In value terms, Bulgaria ($X) emerged as the key foreign market for refractory products of siliceous or diatomite earths exports from Greece, comprising 67% of total exports. The second position in the ranking was taken by the UK ($X), with an 11% share of total exports. It was followed by the United States, with a 9.8% share.

From 2012 to 2021, the average annual growth rate of value to Bulgaria amounted to +19.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+21.3% per year) and the United States (-15.9% per year).

Export Prices by Country

In 2021, the average export price for refractory products of siliceous or diatomite earths amounted to $X per ton, jumping by 34% against the previous year. Over the period under review, the export price posted strong growth. The most prominent rate of growth was recorded in 2019 when the average export price increased by 142%. The export price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to the United States ($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 Albania (+53.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refractory Products of Siliceous or Diatomite Earths

Imports into Greece

In 2021, overseas purchases of refractory products of siliceous or diatomite earths increased by 7% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports saw significant growth. The pace of growth was the most pronounced in 2017 when imports increased by 1,143% against the previous year. Over the period under review, imports of attained the maximum at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of refractory products of siliceous or diatomite earths soared to $X in 2021. Overall, imports posted a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 619% against the previous year. Over the period under review, imports of hit record highs in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons) and Spain (X tons) were the main suppliers of imports of refractory products of siliceous or diatomite earths to Greece.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +71.8%).

In value terms, Italy ($X) and Spain ($X) appeared to be the largest refractory products of siliceous or diatomite earths suppliers to Greece.

In terms of the main suppliers, Spain, with a CAGR of +61.9%, recorded the highest growth rate of the value of imports, over the period under review.

Import Prices by Country

In 2021, the average import price for refractory products of siliceous or diatomite earths amounted to $X per ton, surging by 23% against the previous year. In general, the import price, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2014 an increase of 51% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Spain amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-5.8%).

Source: IndexBox Platform

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