Scandinavia: Sulphites Market 2024

Sulphites Market Size in Scandinavia

In 2022, the Scandinavia sulphites market decreased by -0.6% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption posted a strong increase. The level of consumption peaked at $X in 2021, and then dropped slightly in the following year.

Sulphites Production in Scandinavia

In value terms, sulphites production stood at $X in 2022 estimated in export price. Overall, production continues to indicate significant growth. The pace of growth was the most pronounced in 2020 when the production volume increased by 366% against the previous year. Over the period under review, production hit record highs in 2022 and is expected to retain growth in the near future.

Sulphites Exports

Exports in Scandinavia

In 2022, overseas shipments of sulphites increased by 57% to X tons, rising for the third consecutive year after three years of decline. In general, exports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2013 when exports increased by 214% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, sulphites exports skyrocketed to $X in 2022. Overall, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2013 with an increase of 131% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Finland (X tons) and Sweden (X tons) dominates exports structure, together constituting 98% of total exports. Norway (X tons) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Finland (with a CAGR of +54.7%), while the other leaders experienced mixed trends in the exports figures.

In value terms, Finland ($X) remains the largest sulphites supplier in Scandinavia, comprising 64% of total exports. The second position in the ranking was held by Sweden ($X), with a 29% share of total exports.

In Finland, sulphites exports expanded at an average annual rate of +52.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sweden (-0.2% per year) and Norway (+39.9% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, rising by 32% against the previous year. Over the period under review, the export price showed a strong increase. The most prominent rate of growth was recorded in 2020 when the export price increased by 64% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+8.9%), while the other leaders experienced mixed trends in the export price figures.

Sulphites Imports

Imports in Scandinavia

Sulphites imports stood at X tons in 2022, increasing by 5.9% on the year before. Total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -8.9% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of 51% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, sulphites imports surged to $X in 2022. Overall, imports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of 37% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Sweden (X tons) represented the key importer of sulphites, achieving 63% of total imports. It was distantly followed by Norway (X tons) and Finland (X tons), together generating a 37% share of total imports.

Sweden was also the fastest-growing in terms of the sulphites imports, with a CAGR of +10.3% from 2012 to 2022. At the same time, Norway (+4.1%) and Finland (+3.0%) displayed positive paces of growth. While the share of Sweden (+15 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Finland (-3.8 p.p.) and Norway (-10.8 p.p.) displayed negative dynamics.

In value terms, the largest sulphites importing markets in Scandinavia were Sweden ($X), Norway ($X) and Finland ($X).

Among the main importing countries, Sweden, with a CAGR of +13.7%, 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, growing by 24% against the previous year. Import price indicated a tangible increase from 2012 to 2022: its price increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphites import price increased by +82.2% against 2020 indices. The growth pace was the most rapid in 2021 when the import price increased by 47%. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+5.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform