Portugal: Market for Caustic Soda in Aqueous Solution (Soda Lye) 2024

Market Size for Caustic Soda in Aqueous Solution (Soda Lye) in Portugal

In 2021, the Portuguese market for caustic soda in aqueous solution (soda lye) decreased by -5.8% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +5.0% 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 -11.2% against 2017 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Caustic Soda in Aqueous Solution (Soda Lye) in Portugal

In value terms, production of caustic soda in aqueous solution (soda lye) fell sharply to $X in 2021 estimated in export price. In general, production faced a precipitous decrease. Over the period under review, production of attained the maximum level at $X in 2020, and then contracted notably in the following year.

Exports of Caustic Soda in Aqueous Solution (Soda Lye)

Exports from Portugal

In 2021, after four years of growth, there was significant decline in overseas shipments of caustic soda in aqueous solution (soda lye), when their volume decreased by -15.9% to X tons. In general, exports, however, posted a remarkable increase. The pace of growth appeared the most rapid in 2018 when exports increased by 197%. Over the period under review, the exports of hit record highs at X tons in 2020, and then dropped notably in the following year.

In value terms, exports of caustic soda in aqueous solution (soda lye) expanded remarkably to $X in 2021. Overall, exports, however, saw a strong expansion. The growth pace was the most rapid in 2018 with an increase of 264% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports of failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for exports of caustic soda in aqueous solution (soda lye) from Portugal, with a 96% share of total exports. It was followed by Cabo Verde (X tons), with a 2.1% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Spain stood at +7.9%.

In value terms, Spain ($X) remains the key foreign market for caustic soda in aqueous solution (soda lye) exports from Portugal, comprising 94% of total exports. The second position in the ranking was taken by Cabo Verde ($X), with a 2.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain totaled +7.2%.

Export Prices by Country

The average export price for caustic soda in aqueous solution (soda lye) stood at $X per ton in 2021, with an increase of 36% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Cabo Verde ($X per ton), while the average price for exports to Spain amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Cabo Verde (+2.2%).

Imports of Caustic Soda in Aqueous Solution (Soda Lye)

Imports into Portugal

In 2021, approx. X tons of caustic soda in aqueous solution (soda lye) were imported into Portugal; growing by 2.5% on the year before. Overall, total imports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +29.8% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of 54%. Over the period under review, imports of reached the maximum at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, imports of caustic soda in aqueous solution (soda lye) skyrocketed to $X in 2021. Over the period under review, total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -14.4% against 2019 indices. The pace of growth appeared the most rapid in 2017 with an increase of 60%. Over the period under review, imports of reached the peak figure at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), the UK (X tons) and Spain (X tons) were the main suppliers of imports of caustic soda in aqueous solution (soda lye) to Portugal, with a combined 76% share of total imports. Belgium, Norway, France and Germany lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +123.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest caustic soda in aqueous solution (soda lye) suppliers to Portugal were the Netherlands ($X), the UK ($X) and Spain ($X), with a combined 74% share of total imports. Norway, Belgium, France and Germany lagged somewhat behind, together comprising a further 24%.

Belgium, with a CAGR of +114.4%, 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

The average import price for caustic soda in aqueous solution (soda lye) stood at $X per ton in 2021, increasing by 14% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of 51% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Norway ($X per ton) and Spain ($X per ton), while the price for Belgium ($X per ton) and the UK ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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