Russian Federation: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in the Russian Federation

The Russian sulphuric acid market amounted to $X in 2022, leveling off at the previous year. In general, consumption, however, showed a mild decline. Sulphuric acid consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Sulphuric Acid Production in the Russian Federation

In value terms, sulphuric acid production dropped slightly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a deep contraction. The pace of growth was the most pronounced in 2017 when the production volume increased by 91%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Sulphuric Acid Exports

Exports from the Russian Federation

In 2022, exports of sulphuric acid and oleum from Russia expanded to X tons, picking up by 3.1% compared with the previous year. Overall, exports, however, showed a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of 94% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, sulphuric acid exports contracted slightly to $X in 2022. Over the period under review, exports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 113%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Kazakhstan (X tons), Lithuania (X tons) and Ukraine (X tons) were the main destinations of sulphuric acid exports from Russia, with a combined 92% share of total exports. Belarus, Latvia and Mongolia lagged somewhat behind, together accounting for a further 7.6%.

From 2012 to 2022, the biggest increases were recorded for Latvia (with a CAGR of +663.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Kazakhstan ($X) and Ukraine ($X) were the largest markets for sulphuric acid exported from Russia worldwide, together comprising 79% of total exports. Belarus, Mongolia and Latvia lagged somewhat behind, together accounting for a further 21%.

Latvia, with a CAGR of +431.9%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average sulphuric acid export price stood at $X per ton in 2022, shrinking by -6.7% against the previous year. In general, the export price recorded a slight slump. The most prominent rate of growth was recorded in 2014 an increase of 55%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Latvia ($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 Ukraine (+11.0%), while the prices for the other major destinations experienced a decline.

Sulphuric Acid Imports

Imports into the Russian Federation

In 2022, purchases abroad of sulphuric acid and oleum increased by 79% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports posted a strong increase. The growth pace was the most rapid in 2017 with an increase of 215%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, sulphuric acid imports dropped to $X in 2022. In general, imports saw a perceptible increase. The most prominent rate of growth was recorded in 2017 when imports increased by 170%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Kazakhstan (X tons) constituted the largest supplier of sulphuric acid to Russia, accounting for a 63% share of total imports. Moreover, sulphuric acid imports from Kazakhstan exceeded the figures recorded by the second-largest supplier, Belarus (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume from Kazakhstan stood at +87.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (+81.3% per year) and Finland (-9.0% per year).

In value terms, Kazakhstan ($X) constituted the largest supplier of sulphuric acid and oleum to Russia, comprising 48% of total imports. The second position in the ranking was held by Belarus ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Kazakhstan totaled +35.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belarus (+49.2% per year) and Finland (-16.0% per year).

Import Prices by Country

In 2022, the average sulphuric acid import price amounted to $X per ton, declining by -48.1% against the previous year. In general, the import price showed a abrupt decline. The growth pace was the most rapid in 2020 when the average import price increased by 95% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Finland ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (-7.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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