Ukraine: Bentonite Market 2024

Bentonite Market Size in Ukraine

In 2022, the Ukrainian bentonite market was finally on the rise to reach $X after two years of decline. Overall, consumption continues to indicate strong growth. Bentonite consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Bentonite Production in Ukraine

In value terms, bentonite production rose markedly to $X in 2022 estimated in export price. In general, the total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -16.8% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 63%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Bentonite Exports

Exports from Ukraine

In 2022, the amount of bentonite exported from Ukraine declined to X tons, which is down by -5.1% against 2021. Over the period under review, exports continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2020 when exports increased by 322%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, bentonite exports contracted dramatically to $X in 2022. Overall, exports showed a sharp shrinkage. The pace of growth appeared the most rapid in 2020 with an increase of 194%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for bentonite exports from Ukraine, accounting for a 79% share of total exports. Moreover, bentonite exports to Russia exceeded the volume sent to the second major destination, Poland (X tons), sevenfold. Georgia (X tons) ranked third in terms of total exports with a 6.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Russia amounted to -1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+4.2% per year) and Georgia (+103.4% per year).

In value terms, Russia ($X) remains the key foreign market for bentonite exports from Ukraine, comprising 59% of total exports. The second position in the ranking was taken by Poland ($X), with a 26% share of total exports. It was followed by Georgia, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at -18.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (-2.3% per year) and Georgia (+31.4% per year).

Export Prices by Country

In 2022, the average bentonite export price amounted to $X per ton, falling by -88.2% against the previous year. In general, the export price recorded a abrupt downturn. The pace of growth appeared the most rapid in 2019 when the average export price increased by 50% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Russia ($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 Belarus (-0.5%), while the prices for the other major destinations experienced a decline.

Bentonite Imports

Imports into Ukraine

In 2022, the amount of bentonite imported into Ukraine skyrocketed to X tons, picking up by 38% on the year before. Overall, imports posted strong growth. The most prominent rate of growth was recorded in 2018 when imports increased by 176%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, bentonite imports soared to $X in 2022. In general, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 143% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

Turkey (X tons), Georgia (X tons) and Hungary (X tons) were the main suppliers of bentonite imports to Ukraine, together accounting for 64% of total imports.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +178.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Georgia ($X), Poland ($X) and Turkey ($X) appeared to be the largest bentonite suppliers to Ukraine, together comprising 51% of total imports. Hungary, the Czech Republic, Romania, Germany and the United States lagged somewhat behind, together accounting for a further 32%.

Hungary, with a CAGR of +185.2%, saw the highest growth rate of 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 2022, the average bentonite import price amounted to $X per ton, surging by 48% against the previous year. In general, import price indicated a notable expansion 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. The growth pace was the most rapid in 2017 when the average import price increased by 69%. The import price peaked in 2022 and is likely to see gradual 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 the United States ($X per ton), while the price for Turkey ($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 United States (+22.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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