Norway: Cyclic Hydrocarbons Market 2024

Cyclic Hydrocarbons Market Size in Norway

In 2021, the Norwegian cyclic hydrocarbons market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, saw a slight contraction. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Cyclic Hydrocarbons Production in Norway

In value terms, cyclic hydrocarbons production expanded modestly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible decrease. The pace of growth appeared the most rapid in 2015 with an increase of 72% against the previous year. Cyclic hydrocarbons production peaked at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Cyclic Hydrocarbons Exports

Exports from Norway

In 2021, approx. X tons of other cyclic hydrocarbons were exported from Norway; increasing by 172% compared with 2020 figures. In general, exports, however, continue to indicate a abrupt contraction. The growth pace was the most rapid in 2013 with an increase of 233% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, cyclic hydrocarbons exports surged to $X in 2021. Over the period under review, exports, however, showed a dramatic curtailment. The pace of growth appeared the most rapid in 2019 with an increase of 258%. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

India (X tons), Kuwait (X tons) and Germany (X kg) were the main destinations of cyclic hydrocarbons exports from Norway, with a combined 97% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kuwait (with a CAGR of +15.3%), while the other leaders experienced more modest paces of growth.

In value terms, Kuwait ($X) remains the key foreign market for other cyclic hydrocarbons exports from Norway, comprising 68% of total exports. The second position in the ranking was held by Germany ($X), with an 11% share of total exports. It was followed by India, with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Kuwait stood at +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+11.3% per year) and India (+13.7% per year).

Export Prices by Country

The average cyclic hydrocarbons export price stood at $X per ton in 2021, with an increase of 18% against the previous year. Overall, the export price, however, faced a abrupt setback. The most prominent rate of growth was recorded in 2014 when the average export price increased by 54%. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was the UK ($X per ton), while the average price for exports to India ($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 UK (+39.2%), while the prices for the other major destinations experienced more modest paces of growth.

Cyclic Hydrocarbons Imports

Imports into Norway

In 2021, imports of other cyclic hydrocarbons into Norway surged to X tons, increasing by 24% against the previous year. Over the period under review, imports saw prominent growth. The pace of growth was the most pronounced in 2014 when imports increased by 1,215% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cyclic hydrocarbons imports surged to $X in 2021. In general, imports enjoyed a prominent expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 1,221% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of cyclic hydrocarbons to Norway, accounting for a 28% share of total imports. Moreover, cyclic hydrocarbons imports from Germany exceeded the figures recorded by the second-largest supplier, the UK (X tons), twofold. The third position in this ranking was taken by Russia (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +34.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-1.8% per year) and Russia (+19.6% per year).

In value terms, Germany ($X) constituted the largest supplier of other cyclic hydrocarbons to Norway, comprising 32% of total imports. The second position in the ranking was held by the UK ($X), with a 12% share of total imports. It was followed by Russia, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +40.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-0.9% per year) and Russia (+21.7% per year).

Import Prices by Country

In 2021, the average cyclic hydrocarbons import price amounted to $X per ton, jumping by 33% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2018 an increase of 66%. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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