Norway: Market for Benzoyl Peroxide And Benzoyl Chloride 2024

Market Size for Benzoyl Peroxide And Benzoyl Chloride in Norway

The Norwegian benzoyl peroxide and chloride market soared to $X in 2022, increasing by 34% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Exports of Benzoyl Peroxide And Benzoyl Chloride

Exports from Norway

In 2022, the amount of benzoyl peroxide and benzoyl chloride exported from Norway skyrocketed to X tons, with an increase of 1,391% compared with the previous year's figure. Overall, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 with an increase of 12,682%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, benzoyl peroxide and chloride exports skyrocketed to $X in 2022. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 3,392% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Saudi Arabia (X tons) was the main destination for benzoyl peroxide and chloride exports from Norway, accounting for a 91% share of total exports. Moreover, benzoyl peroxide and chloride exports to Saudi Arabia exceeded the volume sent to the second major destination, Iraq (X kg), more than tenfold.

From 2013 to 2022, the average annual growth rate of volume to Saudi Arabia totaled +5.4%.

In value terms, Saudi Arabia ($X) remains the key foreign market for benzoyl peroxide and benzoyl chloride exports from Norway, comprising 89% of total exports. The second position in the ranking was taken by Iraq ($X), with a 9.8% share of total exports.

From 2013 to 2022, the average annual growth rate of value to Saudi Arabia stood at +3.1%.

Export Prices by Country

In 2022, the average benzoyl peroxide and chloride export price amounted to $X per ton, surging by 89% against the previous year. Overall, the export price, however, saw a dramatic contraction. The pace of growth was the most pronounced in 2019 when the average export price increased by 218%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Saudi Arabia stood at $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (-2.2%).

Imports of Benzoyl Peroxide And Benzoyl Chloride

Imports into Norway

In 2022, benzoyl peroxide and chloride imports into Norway surged to X tons, increasing by 20% compared with the previous year's figure. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by 21% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, benzoyl peroxide and chloride imports soared to $X in 2022. Overall, total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +2.7% 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 +69.8% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), China (X tons) and South Korea (X tons) were the main suppliers of benzoyl peroxide and chloride imports to Norway, with a combined 78% share of total imports. The Netherlands, France and Mexico lagged somewhat behind, together comprising a further 20%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +64.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest benzoyl peroxide and chloride suppliers to Norway were Germany ($X), China ($X) and South Korea ($X), together comprising 71% of total imports. The Netherlands, Mexico and France lagged somewhat behind, together accounting for a further 26%.

In terms of the main suppliers, Mexico, with a CAGR of +90.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average benzoyl peroxide and chloride import price stood at $X per ton in 2022, growing by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Mexico ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+16.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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