Norway: Explosives Market 2024

Explosives Market Size in Norway

The Norwegian explosives market shrank to $X in 2021, with a decrease of -8.5% against the previous year. Overall, consumption, however, posted a significant expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Explosives Production in Norway

In value terms, explosives production shrank to $X in 2021 estimated in export price. Over the period under review, production recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of 38% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Explosives Exports

Exports from Norway

In 2021, shipments abroad of prepared explosives decreased by -17.9% to X tons, falling for the second year in a row after three years of growth. Overall, exports recorded a pronounced descent. The growth pace was the most rapid in 2018 when exports increased by 36% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, explosives exports fell markedly to $X in 2021. Over the period under review, total exports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 44%. The exports peaked at $X in 2020, and then declined sharply in the following year.

Exports by Country

The United States (X tons), Sweden (X tons) and Italy (X tons) were the main destinations of explosives exports from Norway, together comprising 61% of total exports. Germany, Canada, Iceland, Switzerland and Belgium lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iceland (with a CAGR of +16.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for explosives exported from Norway were the United States ($X), Germany ($X) and Italy ($X), with a combined 72% share of total exports. Sweden, Canada, Switzerland, Iceland and Belgium lagged somewhat behind, together comprising a further 16%.

Iceland, with a CAGR of +11.7%, saw the highest rates of growth with regard to the value of exports, in terms of 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 explosives export price stood at $X per ton in 2021, with an increase of 2.5% against the previous year. Overall, export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, explosives export price increased by +17.5% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the average export price increased by 28%. The export price peaked in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Iceland ($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 Sweden (+4.9%), while the prices for the other major destinations experienced mixed trend patterns.

Explosives Imports

Imports into Norway

Explosives imports into Norway dropped to X tons in 2021, with a decrease of -10.1% on the previous year. In general, imports saw a noticeable reduction. The most prominent rate of growth was recorded in 2018 when imports increased by 6.7% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, explosives imports plummeted to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 44%. As a result, imports reached the peak of $X, and then declined remarkably in the following year.

Imports by Country

Sweden (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of explosives imports to Norway, with a combined 85% share of total imports. Finland lagged somewhat behind, accounting for a further 11%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Finland (with a CAGR of +11.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Germany ($X) constituted the largest supplier of prepared explosives to Norway, comprising 31% of total imports. The second position in the ranking was held by Sweden ($X), with a 15% share of total imports. It was followed by Finland, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled -2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (-7.6% per year) and Finland (+5.0% per year).

Import Prices by Country

The average explosives import price stood at $X per ton in 2021, dropping by -11.2% against the previous year. Over the last nine years, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2020 when the average import price increased by 45% against the previous year. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Sweden ($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 (+1.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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