Russian Federation: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in the Russian Federation

The Russian carbon dioxide market expanded notably to $X in 2022, with an increase of 6.1% against the previous year. Overall, consumption recorded prominent growth. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Carbon Dioxide Production in the Russian Federation

In value terms, carbon dioxide production dropped to $X in 2022 estimated in export price. Overall, production continues to indicate strong growth. The most prominent rate of growth was recorded in 2018 with an increase of 120% against the previous year. Carbon dioxide production peaked at $X in 2021, and then dropped in the following year.

Carbon Dioxide Exports

Exports from the Russian Federation

Carbon dioxide exports from Russia dropped to X tons in 2022, waning by -6.8% compared with the previous year. Over the period under review, exports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 56% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, carbon dioxide exports reduced modestly to $X in 2022. Overall, total exports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +2.5% against 2020 indices. The growth pace was the most rapid in 2017 when exports increased by 61% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Kazakhstan (X tons) was the main destination for carbon dioxide exports from Russia, accounting for a 75% share of total exports. Moreover, carbon dioxide exports to Kazakhstan exceeded the volume sent to the second major destination, Ukraine (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kazakhstan stood at +9.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+110.0% per year) and Belarus (-21.5% per year).

In value terms, Kazakhstan ($X) remains the key foreign market for carbon dioxide exports from Russia, comprising 74% of total exports. The second position in the ranking was taken by Ukraine ($X), with a 20% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Kazakhstan totaled +2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+52.1% per year) and Belarus (-23.5% per year).

Export Prices by Country

The average carbon dioxide export price stood at $X per ton in 2022, picking up by 4.7% against the previous year. Over the period under review, the export price, however, saw a abrupt shrinkage. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Ukraine ($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 Belarus (-2.5%), while the prices for the other major destinations experienced a decline.

Carbon Dioxide Imports

Imports into the Russian Federation

In 2022, the amount of carbon dioxide imported into Russia contracted markedly to X tons, falling by -18% compared with the previous year. Overall, imports continue to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2017 with an increase of 167% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, carbon dioxide imports dropped to $X in 2022. Over the period under review, imports continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 140%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest carbon dioxide supplier to Russia, accounting for a 59% share of total imports. Moreover, carbon dioxide imports from Lithuania exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Poland (X tons) ranked third in terms of total imports with a 6.9% share.

From 2012 to 2022, the average annual growth rate of volume from Lithuania stood at +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-6.8% per year) and Poland (+24.9% per year).

In value terms, the largest carbon dioxide suppliers to Russia were China ($X), Taiwan (Chinese) ($X) and Lithuania ($X), with a combined 89% share of total imports.

China, with a CAGR of +15.6%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average carbon dioxide import price amounted to $X per ton, with an increase of 5.7% against the previous year. In general, import price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carbon dioxide import price increased by +42.0% against 2017 indices. The most prominent rate of growth was recorded in 2015 an increase of 32%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a somewhat lower figure.

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 Taiwan (Chinese) ($X per ton), while the price for Lithuania ($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 United States (+25.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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