Scandinavia: Carbides Market 2024

Carbides Market Size in Scandinavia

In 2022, the Scandinavia carbides market increased by 37% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +91.1% against 2020 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Carbides Production in Scandinavia

In value terms, carbides production contracted modestly to $X in 2022 estimated in export price. In general, production, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 11% against the previous year. Over the period under review, production attained the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Carbides Exports

Exports in Scandinavia

In 2022, exports of carbides in Scandinavia contracted to X tons, reducing by -5.1% against 2021 figures. In general, exports saw a noticeable downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 5.8%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, carbides exports shrank sharply to $X in 2022. Overall, exports saw a abrupt decrease. The pace of growth appeared the most rapid in 2020 with an increase of 6.4% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Sweden (X tons), together resulting at 99.9% of total export.

Sweden was also the fastest-growing in terms of the carbides exports, with a CAGR of -3.6% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) also remains the largest carbides supplier in Scandinavia.

In Sweden, carbides exports plunged by an average annual rate of -6.9% over the period from 2012-2022.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, declining by -12.1% against the previous year. Overall, the export price showed a pronounced reduction. The pace of growth was the most pronounced in 2020 when the export price increased by 12% against the previous year. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Sweden.

From 2012 to 2022, the rate of growth in terms of prices for Sweden amounted to -3.4% per year.

Carbides Imports

Imports in Scandinavia

In 2022, after two years of growth, there was decline in overseas purchases of carbides, when their volume decreased by -2.9% to X tons. In general, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when imports increased by 19%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, carbides imports rose notably to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 52%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Norway represented the main importing country with an import of about X tons, which reached 59% of total imports. Sweden (X tons) took a 36% share (based on physical terms) of total imports, which put it in second place, followed by Finland (5%).

From 2012 to 2022, the biggest increases were recorded for Norway (with a CAGR of +2.1%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Sweden ($X) constitutes the largest market for imported carbides in Scandinavia, comprising 74% of total imports. The second position in the ranking was taken by Norway ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Sweden totaled +2.6%. The remaining importing countries recorded the following average annual rates of imports growth: Norway (+4.4% per year) and Finland (-3.2% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, with an increase of 16% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price 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, carbides import price increased by +57.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 42% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+5.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform