Greece: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Greece

In 2022, the Greek sulphuric acid market decreased by -13.5% to $X, falling for the fifth consecutive year after two years of growth. Over the period under review, consumption showed a drastic downturn. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Sulphuric Acid Production in Greece

In value terms, sulphuric acid production shrank to $X in 2022 estimated in export price. In general, production recorded a deep reduction. The growth pace was the most rapid in 2017 with an increase of 51%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Sulphuric Acid Exports

Exports from Greece

In 2022, after two years of decline, there was significant growth in shipments abroad of sulphuric acid and oleum, when their volume increased by 132% to X tons. Over the period under review, exports, however, continue to indicate a deep slump. The growth pace was the most rapid in 2019 with an increase of 272%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, sulphuric acid exports skyrocketed to $X in 2022. In general, exports, however, showed a perceptible downturn. The growth pace was the most rapid in 2019 with an increase of 228%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Serbia (X tons), Cyprus (X tons) and Peru (X tons) were the main destinations of sulphuric acid exports from Greece, together accounting for 86% of total exports.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +36.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cyprus ($X), Serbia ($X) and Albania ($X) constituted the largest markets for sulphuric acid exported from Greece worldwide, with a combined 94% share of total exports.

Among the main countries of destination, Serbia, with a CAGR of +37.5%, recorded 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 sulphuric acid export price stood at $X per ton in 2022, with a decrease of -19.7% against the previous year. Over the period under review, the export price, however, recorded pronounced growth. The most prominent rate of growth was recorded in 2014 an increase of 86%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then reduced notably in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Albania ($X per ton), while the average price for exports to Peru ($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 Albania (+15.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphuric Acid Imports

Imports into Greece

In 2022, supplies from abroad of sulphuric acid and oleum decreased by -21.6% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, imports, however, continue to indicate a mild expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 101%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, sulphuric acid imports contracted to $X in 2022. In general, imports, however, posted a tangible expansion. The pace of growth was the most pronounced in 2017 with an increase of 53% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then declined in the following year.

Imports by Country

In 2022, Bulgaria (X tons) was the main supplier of sulphuric acid to Greece, with a 94% share of total imports. It was followed by Belgium (X tons), with a 2.4% share of total imports. The third position in this ranking was held by Serbia (X tons), with a 1.3% share.

From 2012 to 2022, the average annual growth rate of volume from Bulgaria amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+25.7% per year) and Serbia (-17.5% per year).

In value terms, Bulgaria ($X) constituted the largest supplier of sulphuric acid and oleum to Greece, comprising 81% of total imports. The second position in the ranking was taken by Belgium ($X), with a 6.5% share of total imports. It was followed by Serbia, with a 0.8% share.

From 2012 to 2022, the average annual growth rate of value from Bulgaria totaled +14.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+33.1% per year) and Serbia (-12.1% per year).

Import Prices by Country

In 2022, the average sulphuric acid import price amounted to $X per ton, growing by 12% against the previous year. In general, the import price recorded noticeable growth. The pace of growth was the most pronounced in 2021 an increase of 155% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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