Norway: Toluene Market 2024

Toluene Market Size in Norway

The Norwegian toluene market surged to $X in 2021, with an increase of 22% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Toluene consumption peaked in 2021 and is expected to retain growth in the near future.

Toluene Exports

Exports from Norway

In 2021, shipments abroad of toluene decreased by -8.7% to X kg, falling for the seventh year in a row after three years of growth. In general, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 2,046%. The exports peaked at X tons in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, toluene exports dropped to $X in 2021. Overall, exports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 981%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Guyana (X kg) was the main destination for toluene exports from Norway, with a 83% share of total exports. Moreover, toluene exports to Guyana exceeded the volume sent to the second major destination, Sweden (X kg), sevenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Guyana stood at +25.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+7.2% per year) and Poland (-38.0% per year).

In value terms, Sweden ($X) remains the key foreign market for toluene exports from Norway, comprising 88% of total exports. The second position in the ranking was held by Guyana ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Sweden stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guyana (+14.3% per year) and Poland (+109.1% per year).

Export Prices by Country

In 2021, the average toluene export price amounted to $X per ton, picking up by 5.7% against the previous year. In general, the export price, however, showed a abrupt contraction. The growth pace was the most rapid in 2014 when the average export price increased by 59% against the previous year. 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Guyana ($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 Poland (+227.1%), while the prices for the other major destinations experienced mixed trend patterns.

Toluene Imports

Imports into Norway

Toluene imports into Norway dropped modestly to X tons in 2021, shrinking by -2.2% on 2020. Over the period under review, total imports indicated slight growth from 2012 to 2021: its volume increased at an average annual rate of +1.7% 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 -8.1% against 2019 indices. The growth pace was the most rapid in 2019 when imports increased by 64%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, toluene imports soared to $X in 2021. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when imports increased by 43% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in years to come.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Belgium (X tons) were the main suppliers of toluene imports to Norway, together accounting for 49% of total imports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +21.2%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest toluene suppliers to Norway were Belgium ($X), Germany ($X) and the Netherlands ($X), together comprising 49% of total imports.

Belgium, with a CAGR of +23.1%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average toluene import price amounted to $X per ton, picking up by 37% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 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 Belgium ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+4.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :