Norway: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Norway

In 2022, after two years of growth, there was significant decline in the Norwegian odoriferous substance mixture market, when its value decreased by -7.5% to $X. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then reduced in the following year.

Odoriferous Substance Mixture Exports

Exports from Norway

Odoriferous substance mixture exports from Norway shrank to X tons in 2022, waning by -8% against the previous year's figure. Overall, total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +93.9% against 2012 indices. The pace of growth appeared the most rapid in 2015 with an increase of 22% against the previous year. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, odoriferous substance mixture exports rose sharply to $X in 2022. Over the period under review, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2019 with an increase of 26%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Belgium (X tons), Latvia (X tons) and Russia (X tons) were the main destinations of odoriferous substance mixture exports from Norway, together accounting for 28% of total exports.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +35.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X), Russia ($X) and Saudi Arabia ($X) constituted the largest markets for odoriferous substance mixture exported from Norway worldwide, together accounting for 25% of total exports.

Latvia, with a CAGR of +36.3%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average odoriferous substance mixture export price stood at $X per ton in 2022, with an increase of 15% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Morocco ($X per ton), while the average price for exports to the United States ($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 Morocco (+5.4%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Norway

In 2022, purchases abroad of mixtures of odoriferous substances and their preparations decreased by -1.8% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 21% against the previous year. Imports peaked at X tons in 2021, and then fell modestly in the following year.

In value terms, odoriferous substance mixture imports declined to $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 24% against the previous year. As a result, imports reached the peak of $X, and then reduced in the following year.

Imports by Country

Sweden (X tons), Ireland (X tons) and Germany (X tons) were the main suppliers of odoriferous substance mixture imports to Norway, with a combined 64% share of total imports. The United States, the Netherlands, the UK, Belgium, Spain, Switzerland, Denmark and Italy lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Italy (with a CAGR of +36.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Norway, comprising 66% of total imports. The second position in the ranking was held by Germany ($X), with a 6.4% share of total imports. It was followed by Sweden, with a 3.9% share.

From 2012 to 2022, the average annual growth rate of value from Ireland was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.3% per year) and Sweden (-2.8% per year).

Import Prices by Country

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, falling by -7.8% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 14% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+9.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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