Norway: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in Norway

In 2021, the Norwegian aromatic alcohols market increased by 42% to $X, rising for the second consecutive year after two years of decline. Over the period under review, the total consumption indicated a measured increase from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +48.2% against 2019 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Aromatic Alcohols Exports

Exports from Norway

In 2021, the amount of aromatic alcohols and their derivatives exported from Norway fell dramatically to X tons, which is down by -43.2% on the previous year. In general, exports showed a deep contraction. The growth pace was the most rapid in 2016 with an increase of 72%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, aromatic alcohols exports reduced to $X in 2021. Overall, exports saw a abrupt contraction. The growth pace was the most rapid in 2017 with an increase of 69% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sweden (X tons) was the main destination for aromatic alcohols exports from Norway, accounting for a 82% share of total exports. Moreover, aromatic alcohols exports to Sweden exceeded the volume sent to the second major destination, Finland (X tons), eightfold. The third position in this ranking was taken by Denmark (X tons), with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sweden totaled -11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-22.4% per year) and Denmark (+31.6% per year).

In value terms, Sweden ($X) remains the key foreign market for aromatic alcohols and their derivatives exports from Norway, comprising 57% of total exports. The second position in the ranking was taken by Finland ($X), with a 7.1% share of total exports. It was followed by Denmark, with a 3% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden stood at -11.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (-23.0% per year) and Denmark (+37.7% per year).

Export Prices by Country

The average aromatic alcohols export price stood at $X per ton in 2021, surging by 57% against the previous year. In general, export price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aromatic alcohols export price increased by +75.7% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Denmark ($X per ton) and Russia ($X per ton), while the average price for exports to Sweden ($X per ton) and Finland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Aromatic Alcohols Imports

Imports into Norway

After three years of decline, overseas purchases of aromatic alcohols and their derivatives increased by 12% to X tons in 2021. The total import volume increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 39% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, aromatic alcohols imports surged to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 60% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest aromatic alcohols supplier to Norway, accounting for a 76% share of total imports. Moreover, aromatic alcohols imports from the Netherlands exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. India (X tons) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands stood at +9.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+69.7% per year) and India (+1.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of aromatic alcohols and their derivatives to Norway, comprising 75% of total imports. The second position in the ranking was held by China ($X), with a 20% share of total imports. It was followed by India, with a 2.4% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands totaled +8.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+64.8% per year) and India (-0.4% per year).

Import Prices by Country

In 2021, the average aromatic alcohols import price amounted to $X per ton, with an increase of 29% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 Sweden ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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