Norway: Biodiesel Market 2024

Biodiesel Market Size in Norway

The Norwegian biodiesel market soared to $X in 2021, jumping by 53% against the previous year. In general, consumption showed a significant increase. Biodiesel consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Biodiesel Production in Norway

In value terms, biodiesel production contracted modestly to $X in 2021 estimated in export price. Overall, production saw a resilient expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by 133%. As a result, production attained the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Biodiesel Exports

Exports from Norway

In 2021, shipments abroad of biodiesel increased by 8.7% to X tons, rising for the second consecutive year after two years of decline. Overall, exports, however, saw a pronounced setback. The growth pace was the most rapid in 2016 when exports increased by 720%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, biodiesel exports soared to $X in 2021. Over the period under review, exports saw a mild increase. The most prominent rate of growth was recorded in 2016 with an increase of 952% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Sweden (X tons) was the main destination for biodiesel exports from Norway, accounting for a 80% share of total exports. Moreover, biodiesel exports to Sweden exceeded the volume sent to the second major destination, the Netherlands (X tons), fivefold. Switzerland (X tons) ranked third in terms of total exports with a 3.7% share.

From 2012 to 2021, the average annual growth rate of volume to Sweden stood at +44.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-0.7% per year) and Switzerland (-2.7% per year).

In value terms, Sweden ($X) remains the key foreign market for biodiesel exports from Norway, comprising 79% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 17% share of total exports. It was followed by Switzerland, with a 2.7% share.

From 2012 to 2021, the average annual growth rate of value to Sweden stood at +51.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+7.1% per year) and Switzerland (-2.1% per year).

Export Prices by Country

The average biodiesel export price stood at $X per ton in 2021, with an increase of 46% against the previous year. Over the period under review, export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, biodiesel export price increased by +131.7% against 2015 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Germany ($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 (+13.9%), while the prices for the other major destinations experienced more modest paces of growth.

Biodiesel Imports

Imports into Norway

In 2021, approx. X tons of biodiesel were imported into Norway; surging by 14% against 2020 figures. Over the period under review, imports continue to indicate a resilient increase. The pace of growth was the most pronounced in 2019 when imports increased by 85% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, biodiesel imports soared to $X in 2021. In general, imports showed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The Netherlands (X tons), the United States (X tons) and Sweden (X tons) were the main suppliers of biodiesel imports to Norway, together accounting for 94% of total imports.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +126.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), the United States ($X) and Sweden ($X) constituted the largest biodiesel suppliers to Norway, with a combined 96% share of total imports.

In terms of the main suppliers, Sweden, with a CAGR of +119.7%, recorded the highest rates of growth with regard to 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

In 2021, the average biodiesel import price amounted to $X per ton, increasing by 59% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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