Scandinavia: Lithium Carbonate Market 2024

Lithium Carbonate Exports

Exports in Scandinavia

After two years of decline, overseas shipments of lithium carbonates increased by 66% to X tons in 2021. In general, exports recorded a remarkable increase. The pace of growth was the most pronounced in 2018 when exports increased by 189%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, lithium carbonate exports soared to $X in 2021. Over the period under review, exports continue to indicate a prominent increase. The growth pace was the most rapid in 2018 when exports increased by 146% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Denmark represented the largest exporting country with an export of about X tons, which amounted to 85% of total exports. It was distantly followed by Sweden (X tons), making up a 15% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to lithium carbonate exports from Denmark stood at +12.5%. At the same time, Sweden (+25.7%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +25.7% from 2012-2021. From 2012 to 2021, the share of Denmark and Sweden increased by +10 and +10 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Denmark ($X) remains the largest lithium carbonate supplier in Scandinavia, comprising 86% of total exports. The second position in the ranking was taken by Sweden ($X), with a 14% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Denmark totaled +17.2%.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, growing by 5.5% against the previous year. In general, the export price showed a notable increase. The pace of growth was the most pronounced in 2016 an increase of 46%. Over the period under review, the export prices hit record highs at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+9.3%).

Lithium Carbonate Imports

Imports in Scandinavia

In 2021, the amount of lithium carbonates imported in Scandinavia soared to X tons, growing by 32% against the previous year's figure. Total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +4.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +36.3% against 2018 indices. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, lithium carbonate imports soared to $X in 2021. In general, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2016 when imports increased by 55% against the previous year. The level of import peaked at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Sweden (X tons) represented the main importer of lithium carbonates, mixing up 51% of total imports. Denmark (X tons) held the second position in the ranking, distantly followed by Finland (X tons) and Norway (X tons). All these countries together took approx. 46% share of total imports. Iceland (X tons) followed a long way behind the leaders.

Imports into Sweden increased at an average annual rate of +4.8% from 2012 to 2021. At the same time, Iceland (+29.1%), Denmark (+6.3%) and Norway (+4.2%) displayed positive paces of growth. Moreover, Iceland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +29.1% from 2012-2021. By contrast, Finland (-2.1%) illustrated a downward trend over the same period. While the share of Denmark (+4.1 p.p.), Sweden (+2.2 p.p.) and Iceland (+2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Finland (-8.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported lithium carbonates in Scandinavia, comprising 50% of total imports. The second position in the ranking was taken by Denmark ($X), with a 23% share of total imports. It was followed by Norway, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in Sweden stood at +8.6%. The remaining importing countries recorded the following average annual rates of imports growth: Denmark (+9.7% per year) and Norway (+5.8% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, rising by 1.8% against the previous year. In general, the import price recorded a tangible expansion. The pace of growth was the most pronounced in 2018 when the import price increased by 38%. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Norway ($X per ton) and Finland ($X per ton), while Denmark ($X per ton) and Sweden ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+3.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform