Scandinavia: Sodium Triphosphate Market 2024

Sodium Triphosphate Market Size in Scandinavia

The Scandinavia sodium triphosphate market skyrocketed to $X in 2021, jumping by 23% against the previous year. Overall, consumption, however, continues to indicate a noticeable shrinkage. The level of consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Sodium Triphosphate Production in Scandinavia

In value terms, sodium triphosphate production surged to $X in 2021 estimated in export price. Overall, production saw a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 309%. The level of production peaked in 2021 and is expected to retain growth in the near future.

Sodium Triphosphate Exports

Exports in Scandinavia

In 2021, approx. X tons of sodium triphosphate (sodium tripolyphosphates) were exported in Scandinavia; with an increase of 40% compared with the year before. Overall, exports, however, recorded a perceptible descent. The growth pace was the most rapid in 2014 when exports increased by 211%. The volume of export peaked at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, sodium triphosphate exports skyrocketed to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when exports increased by 207%. The level of export peaked at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Iceland prevails in exports structure, accounting for X tons, which was near 82% of total exports in 2021. It was distantly followed by Denmark (X tons), mixing up a 9.6% share of total exports. The following exporters - Sweden (X tons) and Norway (X tons) - together made up 6.9% of total exports.

From 2012 to 2021, average annual rates of growth with regard to sodium triphosphate exports from Iceland stood at -4.6%. At the same time, Norway (+20.1%) and Sweden (+10.8%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +20.1% from 2012-2021. Denmark experienced a relatively flat trend pattern. While the share of Denmark (+3 p.p.), Sweden (+3 p.p.) and Norway (+2.4 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Iceland (-8.2 p.p.) displayed negative dynamics.

In value terms, Iceland ($X) remains the largest sodium triphosphate supplier in Scandinavia, comprising 87% of total exports. The second position in the ranking was held by Denmark ($X), with an 8.7% share of total exports. It was followed by Sweden, with a 2.2% share.

In Iceland, sodium triphosphate exports remained relatively stable over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Denmark (-0.5% per year) and Sweden (+9.7% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, rising by 14% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.9%. The pace of growth appeared the most rapid in 2020 an increase of 16%. Over the period under review, the export prices attained the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Iceland ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iceland (+4.8%), while the other leaders experienced a decline in the export price figures.

Sodium Triphosphate Imports

Imports in Scandinavia

In 2021, approx. X tons of sodium triphosphate (sodium tripolyphosphates) were imported in Scandinavia; surging by 21% on the year before. Overall, imports, however, showed a perceptible contraction. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, sodium triphosphate imports surged to $X in 2021. Over the period under review, imports, however, saw a pronounced reduction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Iceland was the major importer of sodium triphosphate (sodium tripolyphosphates) in Scandinavia, with the volume of imports recording X tons, which was near 46% of total imports in 2021. Denmark (X tons) took a 29% share (based on physical terms) of total imports, which put it in second place, followed by Sweden (13%), Norway (6.6%) and Finland (5.5%).

From 2012 to 2021, the biggest increases were in Sweden (with a CAGR of +2.2%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the largest sodium triphosphate importing markets in Scandinavia were Iceland ($X), Denmark ($X) and Sweden ($X), with a combined 89% share of total imports.

Sweden, with a CAGR of +3.4%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2021, growing by 6.5% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 9.8% against the previous year. The level of import peaked in 2021 and is likely to see gradual growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Sweden ($X per ton), while Iceland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Denmark (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform