Romania: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Romania

In 2022, the Romanian sulphuric acid market increased by 30% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, showed a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sulphuric Acid Production in Romania

In value terms, sulphuric acid production stood at $X in 2022 estimated in export price. Overall, production, however, showed a pronounced slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by 3.5% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Sulphuric Acid Exports

Exports from Romania

For the fifth year in a row, Romania recorded growth in overseas shipments of sulphuric acid and oleum, which increased by 14% to X tons in 2022. In general, exports continue to indicate a significant expansion. The growth pace was the most rapid in 2015 when exports increased by 9,142%. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, sulphuric acid exports skyrocketed to $X in 2022. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 6,160% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Hungary (X tons) was the main destination for sulphuric acid exports from Romania, accounting for a 82% share of total exports. Moreover, sulphuric acid exports to Hungary exceeded the volume sent to the second major destination, Moldova (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Hungary stood at +165.4%.

In value terms, Hungary ($X) remains the key foreign market for sulphuric acid and oleum exports from Romania, comprising 81% of total exports. The second position in the ranking was taken by Moldova ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Hungary amounted to +178.3%.

Export Prices by Country

In 2022, the average sulphuric acid export price amounted to $X per ton, picking up by 60% against the previous year. Overall, the export price recorded a pronounced increase. The most prominent rate of growth was recorded in 2014 when the average export price increased by 113%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Moldova ($X per ton), while the average price for exports to Hungary amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Moldova (+8.1%).

Sulphuric Acid Imports

Imports into Romania

In 2022, overseas purchases of sulphuric acid and oleum increased by 8% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, continue to indicate a perceptible slump. The growth pace was the most rapid in 2018 with an increase of 39%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, sulphuric acid imports skyrocketed to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when imports increased by 51% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Bulgaria (X tons) constituted the largest supplier of sulphuric acid to Romania, with a 65% share of total imports. Moreover, sulphuric acid imports from Bulgaria exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. The third position in this ranking was taken by Serbia (X tons), with a 3.8% share.

From 2012 to 2022, the average annual growth rate of volume from Bulgaria totaled -2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (-4.4% per year) and Serbia (-3.5% per year).

In value terms, Bulgaria ($X), Hungary ($X) and the Czech Republic ($X) were the largest sulphuric acid suppliers to Romania, together comprising 87% of total imports.

Among the main suppliers, the Czech Republic, with a CAGR of +90.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average sulphuric acid import price amounted to $X per ton, rising by 31% against the previous year. Overall, import price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphuric acid import price increased by +80.3% against 2017 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Czech Republic ($X per ton), while the price for Bulgaria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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