Russian Federation: Lithium Oxide Market 2024

Lithium Oxide Market Size in the Russian Federation

The Russian lithium oxide market was finally on the rise to reach $X in 2021, after three years of decline. In general, consumption, however, continues to indicate a abrupt shrinkage. Lithium oxide consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Lithium Oxide Production in the Russian Federation

In value terms, lithium oxide production expanded remarkably to $X in 2021 estimated in export price. Overall, the total production indicated measured growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -21.5% against 2018 indices. The pace of growth appeared the most rapid in 2016 with an increase of 29% against the previous year. Lithium oxide production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Lithium Oxide Exports

Exports from the Russian Federation

In 2021, after seven years of growth, there was significant decline in shipments abroad of lithium oxides, when their volume decreased by -6% to X tons. Overall, exports, however, showed prominent growth. The pace of growth was the most pronounced in 2014 when exports increased by 83%. The exports peaked at X tons in 2020, and then dropped in the following year.

In value terms, lithium oxide exports skyrocketed to $X in 2021. In general, exports, however, saw significant growth. The pace of growth was the most pronounced in 2016 when exports increased by 133% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in the immediate term.

Exports by Country

South Korea (X tons), Belgium (X tons) and India (X tons) were the main destinations of lithium oxide exports from Russia, with a combined 81% share of total exports. These countries were followed by the Netherlands, Estonia, the United Arab Emirates and Poland, which together accounted for a further 13%.

From 2012 to 2021, the biggest increases were recorded for Estonia (with a CAGR of +520.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X) emerged as the key foreign market for lithium oxides exports from Russia, comprising 50% of total exports. The second position in the ranking was held by India ($X), with a 14% share of total exports. It was followed by Belgium, with a 12% share.

From 2012 to 2021, the average annual growth rate of value to South Korea totaled +376.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+372.5% per year) and Belgium (-0.8% per year).

Export Prices by Country

The average lithium oxide export price stood at $X per ton in 2021, rising by 24% against the previous year. Over the period under review, the export price continues to indicate buoyant growth. The most prominent rate of growth was recorded in 2016 an increase of 41% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Belgium ($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 Germany (+17.3%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium Oxide Imports

Imports into the Russian Federation

In 2021, purchases abroad of lithium oxides increased by 34% to X tons, rising for the third year in a row after two years of decline. Over the period under review, imports showed a buoyant expansion. The pace of growth was the most pronounced in 2019 when imports increased by 302% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, lithium oxide imports soared to $X in 2021. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 185% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of lithium oxide to Russia, with a 82% share of total imports. Moreover, lithium oxide imports from South Korea exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. Poland (X tons) ranked third in terms of total imports with a 0.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea totaled +7,293.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-4.5% per year) and Poland (+31.4% per year).

In value terms, South Korea ($X) constituted the largest supplier of lithium oxides to Russia, comprising 88% of total imports. The second position in the ranking was taken by China ($X), with a 9.7% share of total imports. It was followed by Poland, with a 0.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Korea stood at +6,221.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-5.3% per year) and Poland (+30.6% per year).

Import Prices by Country

In 2021, the average lithium oxide import price amounted to $X per ton, surging by 89% against the previous year. Over the period under review, import price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices attained the maximum at $X per ton in 2016; however, from 2017 to 2021, import prices stood at a somewhat lower figure.

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 Belgium ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+42.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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