Scandinavia: Explosives Market 2024

Explosives Market Size in Scandinavia

The Scandinavia explosives market shrank to $X in 2021, falling by -8.3% against the previous year. In general, consumption, however, recorded a significant increase. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Explosives Production in Scandinavia

In value terms, explosives production declined to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by 7,458%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Explosives Exports

Exports in Scandinavia

In 2021, approx. X tons of prepared explosives were exported in Scandinavia; therefore, remained relatively stable against the previous year's figure. In general, exports, however, saw a mild decline. The growth pace was the most rapid in 2017 with an increase of 148% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, explosives exports fell to $X in 2021. Over the period under review, exports, however, showed a abrupt contraction. The pace of growth was the most pronounced in 2018 when exports increased by 22%. The level of export peaked at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Finland represented the main exporter of prepared explosives in Scandinavia, with the volume of exports reaching X tons, which was near 76% of total exports in 2021. It was distantly followed by Norway (X tons), constituting a 19% share of total exports. Denmark (X tons) took a little share of total exports.

Finland experienced a relatively flat trend pattern with regard to volume of exports of prepared explosives. At the same time, Denmark (+9.7%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +9.7% from 2012-2021. By contrast, Norway (-3.6%) illustrated a downward trend over the same period. Finland (+16 p.p.) and Denmark (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Norway saw its share reduced by -3.6% from 2012 to 2021, respectively.

In value terms, Norway ($X) remains the largest explosives supplier in Scandinavia, comprising 67% of total exports. The second position in the ranking was held by Finland ($X), with a 31% share of total exports.

In Norway, explosives exports increased at an average annual rate of +1.7% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Finland (+6.9% per year) and Denmark (+9.4% per year).

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, shrinking by -9% against the previous year. Overall, the export price recorded a noticeable descent. The pace of growth appeared the most rapid in 2018 an increase of 126% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat 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 ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+6.1%), while the other leaders experienced mixed trends in the export price figures.

Explosives Imports

Imports in Scandinavia

In 2021, approx. X tons of prepared explosives were imported in Scandinavia; almost unchanged from the previous year's figure. Total imports indicated a measured expansion 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 decreased by -3.4% against 2019 indices. The most prominent rate of growth was recorded in 2016 when imports increased by 37% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, explosives imports contracted slightly to $X in 2021. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 19%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2021, Finland (X tons), Sweden (X tons) and Norway (X tons) represented the major importer of prepared explosives in Scandinavia, creating 99% of total import.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Finland (with a CAGR of +14.1%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, Norway ($X), Sweden ($X) and Finland ($X) were the countries with the highest levels of imports in 2021, together comprising 99% of total imports.

Among the main importing countries, Finland, with a CAGR of +8.8%, recorded the highest rates of growth with regard to 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

The import price in Scandinavia stood at $X per ton in 2021, with a decrease of -6% against the previous year. In general, the import price recorded a pronounced decrease. The most prominent rate of growth was recorded in 2020 an increase of 25% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Norway ($X per ton), while Finland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+3.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform