Norway: Acetone Market 2025

Acetone Market Size in Norway

In 2021, the Norwegian acetone market increased by 30% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Acetone consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Acetone Exports

Exports from Norway

In 2021, after two years of decline, there was significant growth in shipments abroad of acetone, when their volume increased by 282% to X tons. Over the period under review, exports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 326%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, acetone exports surged to $X in 2021. Overall, exports recorded a significant expansion. The pace of growth was the most pronounced in 2018 with an increase of 297% against the previous year. The exports peaked in 2021 and are likely to see steady growth in years to come.

Exports by Country

Poland (X tons) was the main destination for acetone exports from Norway, with a 54% share of total exports. Moreover, acetone exports to Poland exceeded the volume sent to the second major destination, Sweden (X kg), threefold. The third position in this ranking was taken by the United States (X kg), with a 20% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Poland totaled +25.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+7.2% per year) and the United States (+5.4% per year).

In value terms, the United States ($X), Sweden ($X) and Poland ($X) appeared to be the largest markets for acetone exported from Norway worldwide, with a combined 79% share of total exports. These countries were followed by Russia, which accounted for a further 17%.

Russia, with a CAGR of +64.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average acetone export price stood at $X per ton in 2021, waning by -14.1% against the previous year. In general, the export price, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2014 an increase of 89% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Poland ($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 United States (+13.1%), while the prices for the other major destinations experienced more modest paces of growth.

Acetone Imports

Imports into Norway

In 2021, the amount of acetone imported into Norway soared to X tons, increasing by 26% against 2020. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when imports increased by 43%. Imports peaked at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, acetone imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +5.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of 37% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

The UK (X tons), Finland (X tons) and Sweden (X tons) were the main suppliers of acetone imports to Norway, together accounting for 90% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +70.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constituted the largest supplier of acetone to Norway, comprising 34% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 15% share of total imports. It was followed by Sweden, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the UK totaled +67.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+15.4% per year) and Sweden (-6.2% per year).

Import Prices by Country

The average acetone import price stood at $X per ton in 2021, rising by 5.6% against the previous year. Overall, the import price enjoyed measured growth. The pace of growth was the most pronounced in 2017 when the average import price increased by 43% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+9.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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