Romania: Baking Soda Market 2024

Baking Soda Market Size in Romania

In 2021, the Romanian baking soda market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.0% 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 -23.9% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Baking Soda Production in Romania

In value terms, baking soda production expanded markedly to $X in 2021 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -28.2% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of 33%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Baking Soda Exports

Exports from Romania

In 2021, overseas shipments of baking soda decreased by -16.5% to X tons, falling for the third year in a row after three years of growth. Overall, exports, however, recorded slight growth. The pace of growth was the most pronounced in 2018 with an increase of 359% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, baking soda exports dropped to $X in 2021. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 429% against the previous year. The exports peaked at $X in 2020, and then shrank in the following year.

Exports by Country

Moldova (X tons), Bulgaria (X tons) and Germany (X tons) were the main destinations of baking soda exports from Romania, together accounting for 70% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +152.6%), while the other leaders experienced more modest paces of growth.

In value terms, Moldova ($X) remains the key foreign market for baking soda exports from Romania, comprising 45% of total exports. The second position in the ranking was taken by Sweden ($X), with a 19% share of total exports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Moldova stood at +62.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sweden (+159.3% per year) and Germany (+150.4% per year).

Export Prices by Country

In 2021, the average baking soda export price amounted to $X per ton, growing by 3.7% against the previous year. In general, the export price posted a significant expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 135% against the previous year. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Ukraine ($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 Turkey (+38.2%), while the prices for the other major destinations experienced more modest paces of growth.

Baking Soda Imports

Imports into Romania

In 2021, the amount of baking soda imported into Romania contracted to X tons, which is down by -3.1% compared with the previous year's figure. In general, total imports indicated a measured expansion from 2012 to 2021: its volume increased at an average annual rate of +4.1% 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 -5.0% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 27% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, baking soda imports rose rapidly to $X in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +5.9% 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 +83.5% against 2015 indices. The growth pace was the most rapid in 2018 with an increase of 28% against the previous year. Imports peaked in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Bulgaria (X tons) constituted the largest baking soda supplier to Romania, with a 30% share of total imports. Moreover, baking soda imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Hungary (X tons), twofold. The third position in this ranking was held by Bosnia and Herzegovina (X tons), with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Bulgaria stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+26.3% per year) and Bosnia and Herzegovina (-3.4% per year).

In value terms, Bulgaria ($X) constituted the largest supplier of baking soda to Romania, comprising 34% of total imports. The second position in the ranking was taken by Hungary ($X), with a 13% share of total imports. It was followed by Belgium, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Bulgaria totaled +18.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+26.8% per year) and Belgium (-2.7% per year).

Import Prices by Country

In 2021, the average baking soda import price amounted to $X per ton, picking up by 11% against the previous year. Over the last nine years, it increased at an average annual rate of +1.8%. The growth pace was the most rapid in 2020 when the average import price increased by 12%. Over the period under review, average import prices reached the maximum in 2021 and is expected to retain growth in the immediate term.

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 Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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