Greece: Sulphites Market 2024

Sulphites Market Size in Greece

In 2022, after three years of growth, there was decline in the Greek sulphites market, when its value decreased by -3.3% to $X. In general, the total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +44.7% against 2017 indices. As a result, consumption reached the peak level of $X, and then reduced modestly in the following year.

Sulphites Exports

Exports from Greece

In 2022, approx. X tons of sulphites were exported from Greece; picking up by 14% against the year before. In general, exports continue to indicate a slight increase. The most prominent rate of growth was recorded in 2021 with an increase of 112%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, sulphites exports soared to $X in 2022. Over the period under review, exports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 101%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Turkey (X tons) was the main destination for sulphites exports from Greece, accounting for a 58% share of total exports. Moreover, sulphites exports to Turkey exceeded the volume sent to the second major destination, Albania (X tons), eightfold. The third position in this ranking was taken by Cyprus (X tons), with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey totaled +589.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Albania (-0.7% per year) and Cyprus (-3.5% per year).

In value terms, Turkey ($X) remains the key foreign market for sulphites exports from Greece, comprising 77% of total exports. The second position in the ranking was taken by Cyprus ($X), with a 4.3% share of total exports. It was followed by Marshall Islands, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey amounted to +687.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (-2.1% per year) and Marshall Islands (+173.5% per year).

Export Prices by Country

The average sulphites export price stood at $X per ton in 2022, growing by 39% against the previous year. Overall, the export price continues to indicate strong growth. The pace of growth appeared the most rapid in 2020 an increase of 57% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Cameroon ($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 Marshall Islands (+19.5%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphites Imports

Imports into Greece

After two years of growth, overseas purchases of sulphites decreased by -26.7% to X tons in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.6% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 59%. As a result, imports attained the peak of X tons, and then reduced sharply in the following year.

In value terms, sulphites imports skyrocketed to $X in 2022. Over the period under review, imports, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 50%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Germany (X tons), Turkey (X tons) and Italy (X tons) were the main suppliers of sulphites imports to Greece, with a combined 94% share of total imports. Spain and Belgium lagged somewhat behind, together accounting for a further 4.4%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +80.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sulphites suppliers to Greece were Germany ($X), Italy ($X) and Turkey ($X), with a combined 89% share of total imports. Spain and Belgium lagged somewhat behind, together accounting for a further 7.8%.

Among the main suppliers, Belgium, with a CAGR of +81.7%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sulphites import price stood at $X per ton in 2022, increasing by 66% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, 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 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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