Scandinavia: Market for Salts Of Acetic Acid 2024

Market Size for Salts Of Acetic Acid in Scandinavia

In 2022, the Scandinavia salts of acetic acid market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, recorded a abrupt downturn. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Salts Of Acetic Acid in Scandinavia

In value terms, salts of acetic acid production rose sharply to $X in 2022 estimated in export price. In general, production, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by 31%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Salts Of Acetic Acid

Exports in Scandinavia

In 2022, salts of acetic acid exports in Scandinavia shrank remarkably to X tons, which is down by -33.2% on the previous year's figure. Overall, exports showed a dramatic descent. The most prominent rate of growth was recorded in 2018 when exports increased by 395% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, salts of acetic acid exports reduced markedly to $X in 2022. In general, exports faced a precipitous setback. The most prominent rate of growth was recorded in 2018 with an increase of 233%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Sweden (X tons), together accounting for 100% of total export.

Sweden was also the fastest-growing in terms of the salts of acetic acid exports, with a CAGR of +16.0% from 2012 to 2022. From 2012 to 2022, the share of Sweden increased by +99 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) also remains the largest salts of acetic acid supplier in Scandinavia.

In Sweden, salts of acetic acid exports increased at an average annual rate of +15.8% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, increasing by 13% against the previous year. Export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, salts of acetic acid export price increased by +66.1% against 2019 indices. The growth pace was the most rapid in 2020 when the export price increased by 30%. Over the period under review, the export prices hit record highs at $X per ton in 2017; afterwards, it flattened through to 2022.

As there is only one major export destination, the average price level is determined by prices for Sweden.

From 2012 to 2022, the rate of growth in terms of prices for Sweden amounted to -0.2% per year.

Imports of Salts Of Acetic Acid

Imports in Scandinavia

In 2022, overseas purchases of salts of acetic acid increased by 12% to X tons, rising for the second consecutive year after two years of decline. In general, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2018 with an increase of 76% against the previous year. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, salts of acetic acid imports skyrocketed to $X in 2022. Overall, imports, however, recorded a pronounced decrease. The most prominent rate of growth was recorded in 2018 with an increase of 104%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Sweden was the key importer of salts of acetic acid in Scandinavia, with the volume of imports accounting for X tons, which was near 82% of total imports in 2022. It was distantly followed by Norway (X tons), mixing up an 18% share of total imports.

Sweden was also the fastest-growing in terms of the salts of acetic acid imports, with a CAGR of +5.4% from 2012 to 2022. Norway (-1.1%) illustrated a downward trend over the same period. While the share of Sweden (+65 p.p.) and Norway (+11 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported salts of acetic acid in Scandinavia, comprising 80% of total imports. The second position in the ranking was held by Norway ($X), with a 20% share of total imports.

In Sweden, salts of acetic acid imports expanded at an average annual rate of +7.5% over the period from 2012-2022.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, increasing by 8.3% against the previous year. Over the period under review, the import price enjoyed a strong increase. The most prominent rate of growth was recorded in 2016 an increase of 31% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+4.1%).

Source: IndexBox Platform