Norway: Alumina Market 2024

Alumina Market Size in Norway

In 2022, the Norwegian alumina market increased by 7% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Alumina Exports

Exports from Norway

In 2022, shipments abroad of alumina decreased by -80.4% to X tons for the first time since 2017, thus ending a four-year rising trend. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 600% against the previous year. As a result, the exports reached the peak of X tons, and then declined sharply in the following year.

In value terms, alumina exports soared to $X in 2022. Overall, exports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2020 with an increase of 159% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Sweden (X tons) was the main destination for alumina exports from Norway, accounting for a 47% share of total exports. Moreover, alumina exports to Sweden exceeded the volume sent to the second major destination, Germany (X tons), twofold. Denmark (X tons) ranked third in terms of total exports with a 19% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden amounted to +27.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+62.8% per year) and Denmark (+114.7% per year).

In value terms, Denmark ($X), Sweden ($X) and the UK ($X) were the largest markets for alumina exported from Norway worldwide, with a combined 69% share of total exports.

In terms of the main countries of destination, Denmark, with a CAGR of +79.6%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average alumina export price stood at $X per ton in 2022, surging by 534% against the previous year. In general, the export price, however, showed a deep downturn. Over the period under review, the average export prices reached the peak figure at $X per ton in 2017; however, from 2018 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 the Netherlands ($X per ton), while the average price for exports to Russia ($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 Italy (+10.8%), while the prices for the other major destinations experienced a decline.

Alumina Imports

Imports into Norway

In 2022, purchases abroad of alumina decreased by -5.3% to X tons for the first time since 2016, thus ending a five-year rising trend. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 8.3%. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, alumina imports rose markedly to $X in 2022. In general, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.3% against 2020 indices. The pace of growth was the most pronounced in 2018 with an increase of 39%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest alumina supplier to Norway, with a 76% share of total imports. Moreover, alumina imports from Brazil exceeded the figures recorded by the second-largest supplier, Spain (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+16.3% per year) and Australia (+44.1% per year).

In value terms, Brazil ($X) constituted the largest supplier of alumina to Norway, comprising 75% of total imports. The second position in the ranking was taken by Spain ($X), with a 17% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil amounted to +2.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+20.7% per year) and Australia (+32.9% per year).

Import Prices by Country

In 2022, the average alumina import price amounted to $X per ton, with an increase of 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2018 an increase of 34% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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