Norway: Adipic Acid Market 2024

Adipic Acid Market Size in Norway

The Norwegian adipic acid market contracted to $X in 2022, waning by -1.6% against the previous year. The market value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2018 when the market value increased by 7.7% against the previous year. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Adipic Acid Production in Norway

In value terms, adipic acid production reduced slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.6% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2018 with an increase of 9.3% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Adipic Acid Exports

Exports from Norway

After two years of decline, overseas shipments of adipic acid, its salts and esters increased by 456% to X tons in 2022. Over the period under review, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 582% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, adipic acid exports surged to $X in 2022. Overall, exports posted a notable increase. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

The UK (X tons) was the main destination for adipic acid exports from Norway, with a 93% share of total exports. Moreover, adipic acid exports to the UK exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold. Sweden (X kg) ranked third in terms of total exports with a 2.4% share.

From 2012 to 2022, the average annual growth rate of volume to the UK amounted to +46.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+4.5% per year) and Sweden (-15.9% per year).

In value terms, the UK ($X) remains the key foreign market for adipic acid, its salts and esters exports from Norway, comprising 92% of total exports. The second position in the ranking was taken by Singapore ($X), with a 3.8% share of total exports. It was followed by Denmark, with a 3.4% share.

From 2012 to 2022, the average annual growth rate of value to the UK totaled +25.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-0.8% per year) and Denmark (-24.0% per year).

Export Prices by Country

In 2022, the average adipic acid export price amounted to $X per ton, which is down by -22.3% against the previous year. Over the period under review, the export price showed a pronounced descent. The growth pace was the most rapid in 2016 when the average export price increased by 763% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Sweden ($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 Denmark (+8.2%), while the prices for the other major destinations experienced a decline.

Adipic Acid Imports

Imports into Norway

In 2022, purchases abroad of adipic acid, its salts and esters decreased by -7.4% to X tons, falling for the second year in a row after two years of growth. Overall, imports, however, posted buoyant growth. The pace of growth was the most pronounced in 2016 when imports increased by 163% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, adipic acid imports fell to $X in 2022. Over the period under review, imports, however, posted resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 271%. Imports peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, the UK (X tons) constituted the largest supplier of adipic acid to Norway, with a 56% share of total imports. Moreover, adipic acid imports from the UK exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by Italy (X tons), with an 18% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the UK totaled +26.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+7.5% per year) and Italy (+6.0% per year).

In value terms, the UK ($X) constituted the largest supplier of adipic acid, its salts and esters to Norway, comprising 81% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by Italy, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the UK totaled +46.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.0% per year) and Italy (-3.0% per year).

Import Prices by Country

The average adipic acid import price stood at $X per ton in 2022, waning by -1.6% against the previous year. Over the period under review, the import price, however, saw a strong increase. The most prominent rate of growth was recorded in 2019 when the average import price increased by 67% against the previous year. The import price peaked at $X per ton in 2021, and then dropped modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+15.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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