Norway: Zinc Market 2024

Zinc Market Size in Norway

In 2022, the Norwegian zinc market increased by 53% to $X, rising for the third consecutive year after two years of decline. In general, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +10.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +79.5% against 2019 indices. Zinc consumption peaked in 2022 and is expected to retain growth in years to come.

Zinc Production in Norway

In value terms, zinc production totaled $X in 2022 estimated in export price. Overall, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.2% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 25% against the previous year. Zinc production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Zinc Exports

Exports from Norway

In 2022, shipments abroad of zinc, unwrought (not alloyed) decreased by -3.4% to X tons, falling for the second consecutive year after three years of growth. The total export volume increased at an average annual rate of +2.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 17% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, zinc exports rose remarkably to $X in 2022. In general, exports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 30%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The Netherlands (X tons), the UK (X tons) and Sweden (X tons) were the main destinations of zinc exports from Norway, together comprising 97% of total exports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +11.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the Netherlands ($X), the UK ($X) and Sweden ($X) appeared to be the largest markets for zinc exported from Norway worldwide, together comprising 97% of total exports.

The Netherlands, with a CAGR of +18.5%, saw the highest growth rate of 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

In 2022, the average zinc export price amounted to $X per ton, with an increase of 17% against the previous year. Over the period under review, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc export price increased by +52.0% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 35%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per ton) and Sweden ($X per ton), while the average price for exports to the UK ($X per ton) and Denmark ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Norway

In 2022, approx. X tons of zinc, unwrought (not alloyed) were imported into Norway; jumping by 272% compared with the year before. Overall, imports, however, saw a deep contraction. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, zinc imports skyrocketed to $X in 2022. In general, imports, however, showed a abrupt decline. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Finland (X tons) and Sweden (X tons) were the main suppliers of zinc imports to Norway, with a combined 94% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +21.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Finland ($X) and Sweden ($X) appeared to be the largest zinc suppliers to Norway, together accounting for 94% of total imports.

The Netherlands, with a CAGR of +26.6%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average zinc import price amounted to $X per ton, surging by 5.9% against the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, zinc import price increased by +47.9% against 2020 indices. The pace of growth was the most pronounced in 2017 an increase of 55%. The import price peaked in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Finland ($X per ton) and India ($X per ton), while the price for the Netherlands ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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