Scandinavia: Propellant Powders Market 2024

Propellant Powders Market Size in Scandinavia

For the third consecutive year, the Scandinavia propellant powders market recorded decline in sales value, which decreased by -8.8% to $X in 2021. Over the period under review, consumption recorded a abrupt curtailment. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Propellant Powders Production in Scandinavia

In value terms, propellant powders production shrank to $X in 2021 estimated in export price. In general, production, however, recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2013 when the production volume increased by 30%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Propellant Powders Exports

Exports in Scandinavia

In 2021, overseas shipments of propellant powders were finally on the rise to reach X tons for the first time since 2014, thus ending a six-year declining trend. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 71% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports remained at a lower figure.

In value terms, propellant powders exports surged to $X in 2021. Overall, exports saw a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Finland dominates exports structure, amounting to X tons, which was near 90% of total exports in 2021. It was distantly followed by Norway (X tons), generating an 8.4% share of total exports.

Finland was also the fastest-growing in terms of the propellant powders exports, with a CAGR of +8.7% from 2012 to 2021. At the same time, Norway (+3.8%) displayed positive paces of growth. While the share of Finland (+49 p.p.) and Norway (+2.5 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Finland ($X) remains the largest propellant powders supplier in Scandinavia, comprising 96% of total exports. The second position in the ranking was taken by Norway ($X), with a 3.8% share of total exports.

In Finland, propellant powders exports increased at an average annual rate of +10.7% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Scandinavia amounted to $X per ton, picking up by 2.7% against the previous year. Export price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, propellant powders export price increased by +82.2% against 2015 indices. The pace of growth was the most pronounced in 2016 an increase of 46%. The level of export peaked in 2021 and is likely to see steady growth in years to come.

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 Finland ($X per ton), while Norway amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (+1.9%).

Propellant Powders Imports

Imports in Scandinavia

In 2021, supplies from abroad of propellant powders increased by 28% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a abrupt downturn. The most prominent rate of growth was recorded in 2016 when imports increased by 57%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, propellant powders imports skyrocketed to $X in 2021. Over the period under review, imports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2016 when imports increased by 60%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Norway (X tons) was the key importer of propellant powders, generating 79% of total imports. It was distantly followed by Finland (X tons), creating an 18% share of total imports. Iceland (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to propellant powders imports into Norway stood at -2.0%. At the same time, Iceland (+12.0%) and Finland (+4.3%) displayed positive paces of growth. Moreover, Iceland emerged as the fastest-growing importer imported in Scandinavia, with a CAGR of +12.0% from 2012-2021. From 2012 to 2021, the share of Norway and Finland increased by +42 and +13 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Norway ($X) constitutes the largest market for imported propellant powders in Scandinavia, comprising 75% of total imports. The second position in the ranking was held by Finland ($X), with a 22% share of total imports.

In Norway, propellant powders imports increased at an average annual rate of +1.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Finland (+4.1% per year) and Iceland (+11.6% per year).

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, rising by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +5.3%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 Norway (+3.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform