Sweden: Lithium Oxide Market 2024

Lithium Oxide Market Size in Sweden

In 2021, the Swedish lithium oxide market decreased by -9.7% to $X, falling for the third year in a row after four years of growth. Overall, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +2.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -42.2% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Lithium Oxide Exports

Exports from Sweden

After four years of growth, overseas shipments of lithium oxides decreased by -94.1% to X tons in 2021. Overall, exports saw a abrupt decline. The pace of growth appeared the most rapid in 2019 with an increase of 6,789% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then contracted dramatically in the following year.

In value terms, lithium oxide exports shrank sharply to $X in 2021. Over the period under review, exports faced a drastic downturn. The growth pace was the most rapid in 2019 with an increase of 6,663% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then dropped notably in the following year.

Exports by Country

The UK (X kg) was the main destination for lithium oxide exports from Sweden, with a 94% share of total exports. It was followed by Norway (X kg), with a 2.7% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to the UK was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-16.4% per year) and Finland (-7.2% per year).

In value terms, the UK ($X) emerged as the key foreign market for lithium oxides exports from Sweden, comprising 82% of total exports. The second position in the ranking was taken by Norway ($X), with a 4.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (-7.2% per year) and Finland (-3.9% per year).

Export Prices by Country

The average lithium oxide export price stood at $X per ton in 2021, which is down by -22.8% against the previous year. Overall, the export price, however, enjoyed pronounced growth. The most prominent rate of growth was recorded in 2016 when the average export price increased by 59% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+14.8%), while the prices for the other major destinations experienced more modest paces of growth.

Lithium Oxide Imports

Imports into Sweden

In 2021, lithium oxide imports into Sweden dropped to X tons, with a decrease of -10.4% on the previous year. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 25% against the previous year. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, lithium oxide imports contracted notably to $X in 2021. Overall, imports, however, continue to indicate a measured increase. The most prominent rate of growth was recorded in 2016 with an increase of 49%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and China (X tons) were the main suppliers of lithium oxide imports to Sweden, together comprising 81% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +111.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), China ($X) and Belgium ($X) appeared to be the largest lithium oxide suppliers to Sweden, with a combined 84% share of total imports.

China, with a CAGR of +128.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average lithium oxide import price amounted to $X per ton, shrinking by -9.1% against the previous year. Over the period under review, the import price, however, showed pronounced growth. The pace of growth was the most pronounced in 2016 when the average import price increased by 66%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+9.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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