Greece: Sulphur Market 2024

Sulphur Market Size in Greece

In 2022, the Greek sulphur market decreased by -8.1% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, recorded a remarkable increase. Sulphur consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Sulphur Production in Greece

In value terms, sulphur production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 21% against the previous year. Sulphur production peaked at $X in 2021, and then dropped modestly in the following year.

Sulphur Exports

Exports from Greece

In 2022, approx. X tons of sulphur were exported from Greece; with a decrease of -2.6% against 2021. The total export volume increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2018 with an increase of 34% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a lower figure.

In value terms, sulphur exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 295%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Israel (X tons), Turkey (X tons) and Egypt (X tons) were the main destinations of sulphur exports from Greece, with a combined 81% 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 Israel (with a CAGR of +19.6%), while the other leaders experienced more modest paces of growth.

In value terms, Israel ($X) emerged as the key foreign market for sulphur exports from Greece, comprising 45% of total exports. The second position in the ranking was held by Turkey ($X), with a 19% share of total exports. It was followed by Egypt, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Israel totaled +30.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+2.8% per year) and Egypt (-2.2% per year).

Export Prices by Country

The average sulphur export price stood at $X per ton in 2022, increasing by 39% against the previous year. In general, the export price recorded prominent growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by 225% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Tunisia ($X per ton), while the average price for exports to Spain ($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 Tunisia (+35.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphur Imports

Imports into Greece

In 2022, purchases abroad of sulphur decreased by -18.1% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, imports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2015 with an increase of 141%. Imports peaked at X tons in 2021, and then declined significantly in the following year.

In value terms, sulphur imports expanded rapidly to $X in 2022. Overall, imports, however, saw a strong increase. The growth pace was the most rapid in 2021 with an increase of 264%. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

Turkmenistan (X tons), Italy (X tons) and Romania (X tons) were the main suppliers of sulphur imports to Greece, together comprising 60% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +196.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sulphur suppliers to Greece were Turkmenistan ($X), Romania ($X) and the Netherlands ($X), together accounting for 60% of total imports.

Romania, with a CAGR of +254.1%, recorded 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

In 2022, the average sulphur import price amounted to $X per ton, growing by 30% against the previous year. Overall, the import price continues to indicate notable growth. The growth pace was the most rapid in 2021 an increase of 181%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+19.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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