Slovenia: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in Slovenia

For the ninth year in a row, the Slovene sulphuric acid market recorded growth in sales value, which increased by 15% to $X in 2022. Overall, consumption, however, showed prominent growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Sulphuric Acid Exports

Exports from Slovenia

In 2022, after three years of decline, there was significant growth in overseas shipments of sulphuric acid and oleum, when their volume increased by 76% to X tons. Overall, exports saw a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 458% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, sulphuric acid exports skyrocketed to $X in 2022. In general, exports recorded a resilient expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 236%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Croatia (X tons) was the main destination for sulphuric acid exports from Slovenia, with a 45% share of total exports. Moreover, sulphuric acid exports to Croatia exceeded the volume sent to the second major destination, Bosnia and Herzegovina (X tons), twofold. The third position in this ranking was held by Hungary (X tons), with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Croatia amounted to +25.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+22.4% per year) and Hungary (0.0% per year).

In value terms, Croatia ($X) remains the key foreign market for sulphuric acid and oleum exports from Slovenia, comprising 61% of total exports. The second position in the ranking was taken by Bosnia and Herzegovina ($X), with a 13% share of total exports. It was followed by Germany, with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Croatia totaled +24.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bosnia and Herzegovina (+17.4% per year) and Germany (+45.6% per year).

Export Prices by Country

In 2022, the average sulphuric acid export price amounted to $X per ton, reducing by -1.6% against the previous year. Overall, the export price, however, recorded a resilient expansion. The growth pace was the most rapid in 2020 when the average export price increased by 149% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Croatia ($X per ton), while the average price for exports to Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+5.8%), while the prices for the other major destinations experienced a decline.

Sulphuric Acid Imports

Imports into Slovenia

In 2022, supplies from abroad of sulphuric acid and oleum decreased by -8.5% to X tons, falling for the second year in a row after seven years of growth. Overall, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2015 when imports increased by 129%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, sulphuric acid imports soared to $X in 2022. Over the period under review, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2015 with an increase of 77% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

Austria (X tons), Italy (X tons) and Croatia (X tons) were the main suppliers of sulphuric acid imports to Slovenia, with a combined 94% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +237.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest sulphuric acid suppliers to Slovenia were Austria ($X), Italy ($X) and Croatia ($X), with a combined 91% share of total imports.

Croatia, with a CAGR of +152.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average sulphuric acid import price stood at $X per ton in 2022, rising by 41% against the previous year. In general, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphuric acid import price increased by +86.9% against 2017 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+7.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform