Scandinavia: Hydrogen Fluoride Market 2024

Hydrogen Fluoride Market Size in Scandinavia

The Scandinavia hydrogen fluoride market surged to $X in 2021, jumping by 23% against the previous year. The market value increased at an average annual rate of +4.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Hydrogen Fluoride Production in Scandinavia

In value terms, hydrogen fluoride production skyrocketed to $X in 2021 estimated in export price. The total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.9% 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 -15.8% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 42% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Hydrogen Fluoride Exports

Exports in Scandinavia

In 2021, shipments abroad of hydrogen fluoride (hydrofluoric acid) decreased by -15.3% to X tons, falling for the third year in a row after two years of growth. In general, exports recorded a perceptible shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 361% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, hydrogen fluoride exports surged to $X in 2021. Over the period under review, exports, however, posted a buoyant increase. The pace of growth appeared the most rapid in 2015 with an increase of 399% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Sweden (X tons) and Finland (X tons) represented the key exporters of hydrogen fluoride (hydrofluoric acid) in 2021, reaching near 40% and 38% of total exports, respectively. It was distantly followed by Norway (X tons), mixing up a 21% share of total exports. Denmark (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Finland (with a CAGR of +43.0%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Sweden ($X) remains the largest hydrogen fluoride supplier in Scandinavia, comprising 80% of total exports. The second position in the ranking was taken by Finland ($X), with a 12% share of total exports. It was followed by Norway, with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden amounted to +13.8%. In the other countries, the average annual rates were as follows: Finland (+28.1% per year) and Norway (-6.9% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, rising by 84% against the previous year. Overall, the export price showed prominent growth. The growth pace was the most rapid in 2013 when the export price increased by 180% against the previous year. Over the period under review, the export prices attained the peak figure in 2021 and is likely to see steady growth in the near future.

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 Sweden ($X per ton), while Finland ($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 (+21.1%), while the other leaders experienced more modest paces of growth.

Hydrogen Fluoride Imports

Imports in Scandinavia

In 2021, overseas purchases of hydrogen fluoride (hydrofluoric acid) were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total imports indicated a noticeable increase from 2012 to 2021: its volume increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when imports increased by 35% against the previous year. The volume of import peaked in 2021 and is expected to retain growth in the immediate term.

In value terms, hydrogen fluoride imports soared to $X in 2021. Total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +112.2% against 2015 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Norway represented the largest importer of hydrogen fluoride (hydrofluoric acid) in Scandinavia, with the volume of imports reaching X tons, which was near 69% of total imports in 2021. Sweden (X tons) took a 16% share (based on physical terms) of total imports, which put it in second place, followed by Finland (14%).

Norway was also the fastest-growing in terms of the hydrogen fluoride (hydrofluoric acid) imports, with a CAGR of +8.9% from 2012 to 2021. At the same time, Finland (+2.7%) displayed positive paces of growth. By contrast, Sweden (-3.3%) illustrated a downward trend over the same period. While the share of Norway (+21 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Finland (-2.6 p.p.) and Sweden (-16.7 p.p.) displayed negative dynamics.

In value terms, Norway ($X) constitutes the largest market for imported hydrogen fluoride (hydrofluoric acid) in Scandinavia, comprising 65% of total imports. The second position in the ranking was held by Finland ($X), with a 17% share of total imports.

In Norway, hydrogen fluoride imports increased at an average annual rate of +8.1% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Finland (+2.6% per year) and Sweden (-4.3% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, stabilizing at the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 15%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 (-0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform