Scandinavia: Herbicide Market 2024

Herbicide Market Size in Scandinavia

In 2021, the Scandinavia herbicide market increased by 2,041% to $X, rising for the second consecutive year after two years of decline. Overall, consumption continues to indicate a significant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Herbicide Production in Scandinavia

In value terms, herbicide production fell remarkably to $X in 2021 estimated in export price. Overall, production posted prominent growth. The growth pace was the most rapid in 2015 when the production volume increased by 100% against the previous year. The level of production peaked at $X in 2020, and then dropped notably in the following year.

Herbicide Exports

Exports in Scandinavia

In 2021, the amount of herbicides exported in Scandinavia dropped to X tons, waning by -9.1% against 2020 figures. Overall, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2015 when exports increased by 295% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, herbicide exports rose modestly to $X in 2021. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 106% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Norway represented the largest exporter of herbicides in Scandinavia, with the volume of exports accounting for X tons, which was near 72% of total exports in 2021. It was distantly followed by Sweden (X tons), achieving a 28% share of total exports.

Norway was also the fastest-growing in terms of the herbicides exports, with a CAGR of +48.0% from 2012 to 2021. At the same time, Sweden (+22.1%) displayed positive paces of growth. From 2012 to 2021, the share of Norway increased by +43 percentage points.

In value terms, Norway ($X) remains the largest herbicide supplier in Scandinavia, comprising 68% of total exports. The second position in the ranking was held by Sweden ($X), with a 32% share of total exports.

In Norway, herbicide exports expanded at an average annual rate of +36.5% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, rising by 15% against the previous year. Over the period under review, the export price, however, continues to indicate a deep contraction. The pace of growth was the most pronounced in 2013 when the export price increased by 60% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (-7.7%).

Herbicide Imports

Imports in Scandinavia

In 2021, purchases abroad of herbicides increased by 15% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2013 with an increase of 34% against the previous year. The volume of import peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, herbicide imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Sweden represented the main importer of herbicides in Scandinavia, with the volume of imports accounting for X tons, which was near 47% of total imports in 2021. Finland (X tons) ranks second in terms of the total imports with a 31% share, followed by Norway (22%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Norway (with a CAGR of +4.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest herbicide importing markets in Scandinavia were Sweden ($X), Finland ($X) and Norway ($X).

Among the main importing countries, Norway, with a CAGR of +2.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, increasing by 7.9% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the import price increased by 27%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Finland ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform