Norway: Platinum Catalysts Market 2024

Platinum Catalysts Market Size in Norway

In 2022, the Norwegian platinum catalysts market increased by 6.3% to $X, rising for the eighth year in a row after two years of decline. Over the period under review, consumption continues to indicate a buoyant expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Platinum Catalysts Production in Norway

In value terms, platinum catalysts production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.4% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2020 with an increase of 9.2%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Platinum Catalysts Exports

Exports from Norway

In 2022, approx. X tons of platinum catalysts were exported from Norway; declining by -26.5% compared with the previous year's figure. Overall, exports, however, saw a modest increase. The pace of growth was the most pronounced in 2021 with an increase of 110% against the previous year. As a result, the exports reached the peak of X tons, and then fell notably in the following year.

In value terms, platinum catalysts exports rose rapidly to $X in 2022. Over the period under review, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 59%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X kg) was the main destination for platinum catalysts exports from Norway, accounting for a 29% share of total exports. Moreover, platinum catalysts exports to the Netherlands exceeded the volume sent to the second major destination, Canada (X kg), twofold. The third position in this ranking was taken by Germany (X kg), with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands stood at +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+76.1% per year) and Germany (-7.3% per year).

In value terms, the Netherlands ($X) remains the key foreign market for platinum catalysts exports from Norway, comprising 32% of total exports. The second position in the ranking was taken by Germany ($X), with a 14% share of total exports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to the Netherlands amounted to +7.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-3.3% per year) and France (+1.2% per year).

Export Prices by Country

The average platinum catalysts export price stood at $X per kg in 2022, jumping by 50% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, platinum catalysts export price decreased by -7.2% against 2020 indices. The most prominent rate of growth was recorded in 2020 an increase of 60% against the previous year. As a result, the export price attained the peak level of $X per kg. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per kg), while the average price for exports to Canada ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Sweden (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Platinum Catalysts Imports

Imports into Norway

In 2022, overseas purchases of platinum catalysts increased by 5.6% to X tons, rising for the sixth year in a row after four years of decline. Over the period under review, imports posted significant growth. The pace of growth was the most pronounced in 2017 with an increase of 52,432%. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

In value terms, platinum catalysts imports skyrocketed to $X in 2022. Overall, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 58,593% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Finland (X tons) constituted the largest supplier of platinum catalysts to Norway, accounting for a 36% share of total imports. Moreover, platinum catalysts imports from Finland exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Finland totaled +32.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+4.7% per year) and Germany (+44.5% per year).

In value terms, Germany ($X), Finland ($X) and France ($X) constituted the largest platinum catalysts suppliers to Norway, with a combined 54% share of total imports. Belgium, Sweden, Australia and Denmark lagged somewhat behind, together accounting for a further 23%.

Denmark, with a CAGR of +426.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average platinum catalysts import price stood at $X per kg in 2022, rising by 16% against the previous year. In general, the import price, however, recorded a abrupt contraction. The growth pace was the most rapid in 2016 when the average import price increased by 76% against the previous year. Over the period under review, average import prices hit record highs at $X per kg 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 Germany ($X per kg), while the price for Finland ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+25.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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