Scandinavia: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in Scandinavia

In 2021, the Scandinavia aromatic alcohols market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. In general, consumption saw a perceptible reduction. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Aromatic Alcohols Production in Scandinavia

In value terms, aromatic alcohols production rose remarkably to $X in 2021 estimated in export price. Overall, production, however, saw a mild shrinkage. The pace of growth appeared the most rapid in 2018 when the production volume increased by 22% against the previous year. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Aromatic Alcohols Exports

Exports in Scandinavia

In 2021, approx. X tons of aromatic alcohols and their derivatives were exported in Scandinavia; surging by 7.3% against the previous year's figure. Overall, exports, however, saw a pronounced downturn. The growth pace was the most rapid in 2016 with an increase of 61%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, aromatic alcohols exports soared to $X in 2021. In general, exports, however, continue to indicate a perceptible curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 44%. Over the period under review, the exports attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Denmark (X tons) and Norway (X tons) represented the main exporters of aromatic alcohols and their derivatives in Scandinavia, together committing 79% of total exports. Sweden (X tons) ranks next in terms of the total exports with a 13% share, followed by Finland (7.6%).

From 2012 to 2021, the biggest increases were recorded for Denmark (with a CAGR of +8.3%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Norway ($X), Denmark ($X) and Sweden ($X) constituted the countries with the highest levels of exports in 2021, together accounting for 93% of total exports.

Denmark, with a CAGR of +5.3%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, surging by 17% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 34% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Denmark ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+4.1%), while the other leaders experienced more modest paces of growth.

Aromatic Alcohols Imports

Imports in Scandinavia

In 2021, approx. X tons of aromatic alcohols and their derivatives were imported in Scandinavia; with a decrease of -12.6% compared with 2020. Overall, imports saw a pronounced decrease. The growth pace was the most rapid in 2013 when imports increased by 12%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, aromatic alcohols imports expanded modestly to $X in 2021. In general, imports continue to indicate a perceptible curtailment. The growth pace was the most rapid in 2017 with an increase of 27% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Norway was the key importing country with an import of around X tons, which recorded 52% of total imports. Finland (X tons) took the second position in the ranking, followed by Sweden (X tons). All these countries together held near 44% share of total imports. Denmark (X tons) followed a long way behind the leaders.

Imports into Norway increased at an average annual rate of +1.5% from 2012 to 2021. At the same time, Finland (+1.6%) displayed positive paces of growth. Moreover, Finland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +1.6% from 2012-2021. By contrast, Denmark (-1.4%) and Sweden (-10.7%) illustrated a downward trend over the same period. While the share of Norway (+17 p.p.) and Finland (+7.3 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Sweden (-24.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest aromatic alcohols importing markets in Scandinavia were Norway ($X), Sweden ($X) and Finland ($X), with a combined 93% share of total imports.

In terms of the main importing countries, Finland, with a CAGR of +1.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, picking up by 17% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the import price increased by 21%. As a result, import price reached the peak level of $X per ton; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Denmark ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform