Ireland: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Ireland

The Irish odoriferous substance mixture market contracted to $X in 2022, waning by -9.4% against the previous year. Over the period under review, consumption saw a deep slump. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Odoriferous Substance Mixture Production in Ireland

In value terms, odoriferous substance mixture production dropped dramatically to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable decline. The pace of growth was the most pronounced in 2021 with an increase of 46%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Odoriferous Substance Mixture Exports

Exports from Ireland

In 2022, overseas shipments of mixtures of odoriferous substances and their preparations increased by 69% to X tons, rising for the second year in a row after two years of decline. In general, total exports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +92.6% against 2020 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, odoriferous substance mixture exports surged to $X in 2022. Over the period under review, total exports indicated noticeable growth from 2012 to 2022: its value 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. Based on 2022 figures, exports increased by +130.5% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for odoriferous substance mixture exports from Ireland, with a 34% share of total exports. Moreover, odoriferous substance mixture exports to the United States exceeded the volume sent to the second major destination, the UK (X tons), fivefold. The third position in this ranking was held by Mexico (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+4.0% per year) and Mexico (+5.9% per year).

In value terms, the United States ($X) emerged as the key foreign market for mixtures of odoriferous substances and their preparations exports from Ireland, comprising 41% of total exports. The second position in the ranking was taken by Mexico ($X), with a 12% share of total exports. It was followed by the UK, with a 6.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at +8.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+17.6% per year) and the UK (+1.1% per year).

Export Prices by Country

The average odoriferous substance mixture export price stood at $X per ton in 2022, rising by 20% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Nigeria ($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 Mexico (+11.0%), while the prices for the other major destinations experienced a decline.

Odoriferous Substance Mixture Imports

Imports into Ireland

In 2022, supplies from abroad of mixtures of odoriferous substances and their preparations decreased by 0% to X tons, falling for the fourth consecutive year after three years of growth. Over the period under review, imports posted pronounced growth. The most prominent rate of growth was recorded in 2017 with an increase of 25%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, odoriferous substance mixture imports totaled $X in 2022. In general, imports posted strong growth. The most prominent rate of growth was recorded in 2013 when imports increased by 20% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

The United States (X tons), Germany (X tons) and the UK (X tons) were the main suppliers of odoriferous substance mixture imports to Ireland, with a combined 60% share of total imports. France, the Netherlands, Switzerland, Portugal, Italy and Belgium lagged somewhat behind, together comprising a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +21.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Ireland, comprising 47% of total imports. The second position in the ranking was taken by Germany ($X), with an 11% share of total imports. It was followed by the UK, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at +12.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.4% per year) and the UK (-6.7% per year).

Import Prices by Country

The average odoriferous substance mixture import price stood at $X per ton in 2022, approximately equating the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when the average import price increased by 29%. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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