Portugal: Sulphites Market 2024

Sulphites Market Size in Portugal

In 2022, the Portuguese sulphites market increased by 4.8% to $X, rising for the second consecutive year after two years of decline. Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +84.1% against 2020 indices. Sulphites consumption peaked in 2022 and is likely to continue growth in years to come.

Sulphites Production in Portugal

In value terms, sulphites production declined to $X in 2022 estimated in export price. Over the period under review, production faced a abrupt decrease. The growth pace was the most rapid in 2021 with an increase of 12%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Sulphites Exports

Exports from Portugal

In 2022, after three years of growth, there was significant decline in overseas shipments of sulphites, when their volume decreased by -56.4% to X tons. Overall, exports, however, enjoyed a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of 1,567%. The exports peaked at X tons in 2021, and then dropped rapidly in the following year.

In value terms, sulphites exports reduced remarkably to $X in 2022. Over the period under review, exports, however, recorded a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 537%. The exports peaked at $X in 2021, and then fell notably in the following year.

Exports by Country

Spain (X tons) was the main destination for sulphites exports from Portugal, accounting for a 95% share of total exports. It was followed by Mozambique (X tons), with a 2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Spain amounted to +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (-4.2% per year) and Angola (-6.0% per year).

In value terms, Spain ($X) remains the key foreign market for sulphites exports from Portugal, comprising 89% of total exports. The second position in the ranking was taken by Mozambique ($X), with a 4.6% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Spain stood at +29.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mozambique (-4.6% per year) and Angola (-1.8% per year).

Export Prices by Country

The average sulphites export price stood at $X per ton in 2022, picking up by 75% against the previous year. Overall, the export price continues to indicate a tangible increase. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Mozambique ($X per ton), while the average price for exports to Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+11.9%), while the prices for the other major destinations experienced mixed trend patterns.

Sulphites Imports

Imports into Portugal

In 2022, purchases abroad of sulphites decreased by -19% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +12.7% against 2018 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 48%. Over the period under review, imports attained the maximum at X tons in 2021, and then declined sharply in the following year.

In value terms, sulphites imports amounted to $X in 2022. In general, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2021 when imports increased by 72%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Spain (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of sulphites imports to Portugal, together accounting for 87% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +20.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, Spain ($X) constituted the largest supplier of sulphites to Portugal, comprising 49% of total imports. The second position in the ranking was held by Italy ($X), with a 19% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Spain stood at +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+7.3% per year) and Germany (-6.9% per year).

Import Prices by Country

In 2022, the average sulphites import price amounted to $X per ton, picking up by 24% against the previous year. Over the period under review, the import price, however, continues to indicate a slight descent. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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