Scandinavia: Salt Market 2024

Salt Market Size in Scandinavia

In 2022, the Scandinavia salt market increased by 13% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations in certain years. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the immediate term.

Salt Production in Scandinavia

In value terms, salt production declined to $X in 2022 estimated in export price. The total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +13.0% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 27%. Over the period under review, production hit record highs at $X in 2021, and then contracted in the following year.

Salt Exports

Exports in Scandinavia

In 2022, shipments abroad of salt and pure sodium chloride increased by 9.3% to X tons, rising for the second year in a row after two years of decline. Overall, exports enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 147% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, salt exports contracted slightly to $X in 2022. In general, exports showed slight growth. The pace of growth appeared the most rapid in 2021 when exports increased by 71%. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Norway was the major exporter of salt and pure sodium chloride in Scandinavia, with the volume of exports amounting to X tons, which was near 89% of total exports in 2022. It was distantly followed by Sweden (X tons), committing a 10% share of total exports.

Norway was also the fastest-growing in terms of the salt and pure sodium chloride exports, with a CAGR of +18.4% from 2012 to 2022. Sweden experienced a relatively flat trend pattern. While the share of Norway (+28 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Sweden (-27.3 p.p.) displayed negative dynamics.

In value terms, Norway ($X) and Sweden ($X) appeared to be the countries with the highest levels of exports in 2022.

Norway, with a CAGR of +13.7%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, with a decrease of -11.8% against the previous year. Overall, the export price continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2020 when the export price increased by 27% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (-4.0%).

Salt Imports

Imports in Scandinavia

In 2022, supplies from abroad of salt and pure sodium chloride increased by 6.3% to X tons, rising for the second year in a row after two years of decline. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 13% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, salt imports rose notably to $X in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by 19%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Norway was the largest importing country with an import of about X tons, which resulted at 46% of total imports. Sweden (X tons) held a 29% share (based on physical terms) of total imports, which put it in second place, followed by Finland (25%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Finland (with a CAGR of +2.1%), 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 2022.

In terms of the main importing countries, Norway, with a CAGR of +3.2%, saw the highest rates of growth with regard to 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

The import price in Scandinavia stood at $X per ton in 2022, rising by 7.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2021 when the import price increased by 9.6% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Sweden (+3.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform