Italy: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Italy

In 2022, the Italian sulphuric acid market increased by 18% to $X, rising for the third consecutive year after two years of decline. Overall, consumption, however, continues to indicate a perceptible decrease. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Sulphuric Acid Production in Italy

In value terms, sulphuric acid production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, saw a slight expansion. The pace of growth was the most pronounced in 2021 when the production volume increased by 82%. Sulphuric acid production peaked in 2022 and is expected to retain growth in years to come.

Sulphuric Acid Exports

Exports from Italy

In 2022, approx. X tons of sulphuric acid and oleum were exported from Italy; growing by 11% against 2021. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 46%. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, sulphuric acid exports surged to $X in 2022. In general, exports posted a pronounced increase. The most prominent rate of growth was recorded in 2021 when exports increased by 54%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Spain (X tons) was the main destination for sulphuric acid exports from Italy, with a 44% share of total exports. Moreover, sulphuric acid exports to Spain exceeded the volume sent to the second major destination, Turkey (X tons), fourfold. Cuba (X tons) ranked third in terms of total exports with a 7.1% share.

From 2012 to 2022, the average annual growth rate of volume to Spain stood at +8.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+10.9% per year) and Cuba (-14.1% per year).

In value terms, Spain ($X) remains the key foreign market for sulphuric acid and oleum exports from Italy, comprising 34% of total exports. The second position in the ranking was taken by Mexico ($X), with a 7.5% share of total exports. It was followed by France, with a 7% share.

From 2012 to 2022, the average annual growth rate of value to Spain stood at +16.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+119.9% per year) and France (+0.8% per year).

Export Prices by Country

In 2022, the average sulphuric acid export price amounted to $X per ton, surging by 15% against the previous year. In general, the export price enjoyed a measured expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 39%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

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 Portugal ($X per ton), while the average price for exports to Namibia ($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 Portugal (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphuric Acid Imports

Imports into Italy

For the third year in a row, Italy recorded growth in overseas purchases of sulphuric acid and oleum, which increased by 223% to X tons in 2022. Over the period under review, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, sulphuric acid imports surged to $X in 2022. In general, imports showed buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Spain (X tons) constituted the largest sulphuric acid supplier to Italy, with a 85% share of total imports. Moreover, sulphuric acid imports from Spain exceeded the figures recorded by the second-largest supplier, Austria (X tons), more than tenfold. The third position in this ranking was taken by France (X tons), with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Spain totaled +99.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-2.5% per year) and France (+43.6% per year).

In value terms, Spain ($X), Germany ($X) and France ($X) appeared to be the largest sulphuric acid suppliers to Italy, with a combined 78% share of total imports.

Spain, with a CAGR of +94.0%, recorded the highest rates of growth with regard to 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

The average sulphuric acid import price stood at $X per ton in 2022, waning by -41% against the previous year. Over the period under review, the import price showed a deep contraction. The growth pace was the most rapid in 2017 when the average import price increased by 48%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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