Norway: Baking Soda Market 2024

Baking Soda Market Size in Norway

In 2021, the Norwegian baking soda market decreased by -5.2% to $X, falling for the second consecutive year after two years of growth. Overall, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -22.9% against 2019 indices. Baking soda consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Baking Soda Exports

Exports from Norway

In 2021, exports of baking soda from Norway skyrocketed to X tons, with an increase of 295% against 2020. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of 9,549% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, baking soda exports soared to $X in 2021. Over the period under review, exports posted significant growth. The pace of growth appeared the most rapid in 2020 with an increase of 6,732% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Sweden (X tons), Finland (X tons) and Denmark (X tons) were the main destinations of baking soda exports from Norway, with a combined 99.9% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +40.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Sweden ($X), Finland ($X) and Denmark ($X) constituted the largest markets for baking soda exported from Norway worldwide, together comprising 100% of total exports.

Sweden, with a CAGR of +21.2%, 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

In 2021, the average baking soda export price amounted to $X per ton, surging by 3.4% against the previous year. In general, the export price, however, continues to indicate a abrupt contraction. The pace of growth appeared the most rapid in 2016 when the average export price increased by 863%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while the average price for exports to Finland ($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 Denmark (+4.7%).

Baking Soda Imports

Imports into Norway

In 2021, supplies from abroad of baking soda decreased by -18.8% to X tons, falling for the second consecutive year after two years of growth. Overall, imports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 46%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, baking soda imports expanded notably to $X in 2021. Over the period under review, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -15.9% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 43% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Russia (X tons) constituted the largest baking soda supplier to Norway, accounting for a 50% share of total imports. Moreover, baking soda imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. Spain (X tons) ranked third in terms of total imports with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia stood at +475.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-10.3% per year) and Spain (+216.5% per year).

In value terms, Russia ($X) constituted the largest supplier of baking soda to Norway, comprising 31% of total imports. The second position in the ranking was held by Spain ($X), with a 14% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia totaled +429.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+117.3% per year) and Germany (-10.3% per year).

Import Prices by Country

In 2021, the average baking soda import price amounted to $X per ton, growing by 31% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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 Spain ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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