Romania: Odoriferous Substance Mixture Market 2024

Odoriferous Substance Mixture Market Size in Romania

In 2022, the Romanian odoriferous substance mixture market increased by 6.7% to $X, rising for the seventh consecutive year after two years of decline. Overall, consumption recorded a buoyant expansion. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the near future.

Odoriferous Substance Mixture Production in Romania

In value terms, odoriferous substance mixture production rose notably to $X in 2022 estimated in export price. In general, production, however, saw a remarkable increase. The pace of growth was the most pronounced in 2020 when the production volume increased by 57% against the previous year. Over the period under review, production reached the peak level in 2022 and is expected to retain growth in the immediate term.

Odoriferous Substance Mixture Exports

Exports from Romania

For the fourth consecutive year, Romania recorded growth in overseas shipments of mixtures of odoriferous substances and their preparations, which increased by 13% to X tons in 2022. In general, exports showed a buoyant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 85% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, odoriferous substance mixture exports rose markedly to $X in 2022. Overall, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 42% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Exports by Country

Poland (X tons), Italy (X tons) and Germany (X tons) were the main destinations of odoriferous substance mixture exports from Romania, together accounting for 53% of total exports. Sweden, Russia, France, Denmark, Uzbekistan, Greece, Belarus, Moldova, the UK and China lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +183.9%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for mixtures of odoriferous substances and their preparations exports from Romania, comprising 33% of total exports. The second position in the ranking was held by Poland ($X), with an 11% share of total exports. It was followed by Italy, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+56.8% per year) and Italy (+56.4% per year).

Export Prices by Country

The average odoriferous substance mixture export price stood at $X per ton in 2022, reducing by -5.7% against the previous year. Over the period under review, the export price continues to indicate a pronounced descent. The growth pace was the most rapid in 2014 an increase of 29%. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Sweden ($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 Greece (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Odoriferous Substance Mixture Imports

Imports into Romania

In 2022, after two years of decline, there was significant growth in overseas purchases of mixtures of odoriferous substances and their preparations, when their volume increased by 41% to X tons. Over the period under review, imports posted a strong increase. The most prominent rate of growth was recorded in 2013 with an increase of 53%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, odoriferous substance mixture imports dropped to $X in 2022. Overall, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by 25% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then shrank slightly in the following year.

Imports by Country

In 2022, Ireland (X tons) constituted the largest odoriferous substance mixture supplier to Romania, accounting for a 61% share of total imports. Moreover, odoriferous substance mixture imports from Ireland exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. The third position in this ranking was held by Germany (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Ireland totaled +17.3%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+25.7% per year) and Germany (+2.3% per year).

In value terms, Ireland ($X) constituted the largest supplier of mixtures of odoriferous substances and their preparations to Romania, comprising 66% of total imports. The second position in the ranking was taken by Germany ($X), with a 12% share of total imports. It was followed by France, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Ireland totaled +11.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.0% per year) and France (+24.4% per year).

Import Prices by Country

In 2022, the average odoriferous substance mixture import price amounted to $X per ton, which is down by -32% against the previous year. Overall, the import price continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by 27% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+14.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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