Ireland: Caustic Soda Market 2024

Caustic Soda Market Size in Ireland

The Irish caustic soda market rose significantly to $X in 2021, picking up by 9.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +25.4% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Caustic Soda Exports

Exports from Ireland

In 2021, shipments abroad of caustic soda was finally on the rise to reach X tons after two years of decline. In general, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,361% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, caustic soda exports surged to $X in 2021. Over the period under review, exports posted a strong increase. The pace of growth was the most pronounced in 2018 with an increase of 1,030% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The UK (X tons) was the main destination for caustic soda exports from Ireland, accounting for a 69% share of total exports. Moreover, caustic soda exports to the UK exceeded the volume sent to the second major destination, Germany (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to the UK amounted to +8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+48.1% per year) and India (+43.2% per year).

In value terms, the UK ($X) remains the key foreign market for caustic soda exports from Ireland, comprising 74% of total exports. The second position in the ranking was taken by India ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to +16.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+44.6% per year) and Germany (+48.4% per year).

Export Prices by Country

In 2021, the average caustic soda export price amounted to $X per ton, with an increase of 3.8% against the previous year. In general, the export price continues to indicate a strong increase. The pace of growth was the most pronounced in 2019 when the average export price increased by 114%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Germany ($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 the UK (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Caustic Soda Imports

Imports into Ireland

In 2021, caustic soda imports into Ireland shrank to X tons, with a decrease of -7% against the previous year. The total import volume increased at an average annual rate of +3.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 30%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, caustic soda imports skyrocketed to $X in 2021. Over the period under review, total imports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +29.2% against 2019 indices. The pace of growth was the most pronounced in 2017 with an increase of 44%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of caustic soda to Ireland, accounting for a 61% share of total imports. Moreover, caustic soda imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by the UK (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at +87.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.6% per year) and the UK (-13.4% per year).

In value terms, the United States ($X) constituted the largest supplier of caustic soda to Ireland, comprising 55% of total imports. The second position in the ranking was taken by Germany ($X), with a 22% share of total imports. It was followed by the UK, with a 9.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +69.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.2% per year) and the UK (-16.7% per year).

Import Prices by Country

The average caustic soda import price stood at $X per ton in 2021, jumping by 35% against the previous year. Over the period under review, the import price, however, showed a pronounced reduction. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Germany ($X per ton) and the Netherlands ($X per ton), while the price for the United States ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+1.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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