Ukraine: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Ukraine

In 2022, the Ukrainian carbon dioxide market increased by 1.4% to $X, rising for the second consecutive year after four years of decline. Over the period under review, consumption, however, faced a abrupt contraction. Carbon dioxide consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Carbon Dioxide Production in Ukraine

In value terms, carbon dioxide production dropped to $X in 2022 estimated in export price. In general, production faced a abrupt contraction. The growth pace was the most rapid in 2013 when the production volume increased by 38% against the previous year. Carbon dioxide production peaked at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Carbon Dioxide Exports

Exports from Ukraine

In 2022, approx. X tons of carbon dioxide were exported from Ukraine; growing by 22% on the previous year's figure. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 246%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, carbon dioxide exports soared to $X in 2022. Overall, exports saw a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Lithuania (X tons) was the main destination for carbon dioxide exports from Ukraine, with a 68% share of total exports. Moreover, carbon dioxide exports to Lithuania exceeded the volume sent to the second major destination, Moldova (X tons), twofold. Latvia (X tons) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Lithuania was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Moldova (+12.5% per year) and Latvia (0.0% per year).

In value terms, Lithuania ($X) emerged as the key foreign market for carbon dioxide exports from Ukraine, comprising 75% of total exports. The second position in the ranking was taken by Moldova ($X), with a 17% share of total exports. It was followed by Italy, with a 5.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Lithuania was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Moldova (+1.5% per year) and Italy (+146.8% per year).

Export Prices by Country

In 2022, the average carbon dioxide export price amounted to $X per ton, growing by 73% against the previous year. Over the period under review, the export price, however, saw a abrupt downturn. The pace of growth was the most pronounced in 2013 an increase of 188%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Moldova ($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 Moldova (-9.8%).

Carbon Dioxide Imports

Imports into Ukraine

For the third year in a row, Ukraine recorded growth in overseas purchases of carbon dioxide, which increased by 40,759% to X tons in 2022. Overall, imports recorded a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, carbon dioxide imports rose significantly to $X in 2022. In general, total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.9% against 2020 indices. The growth pace was the most rapid in 2017 when imports increased by 65%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Lithuania (X tons), Hungary (X tons) and Estonia (X tons) were the main suppliers of carbon dioxide imports to Ukraine, together accounting for 92% of total imports.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of +18,150.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X) constituted the largest supplier of carbon dioxide to Ukraine, comprising 14% of total imports. The second position in the ranking was held by Lithuania ($X), with a 7% share of total imports. It was followed by Estonia, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Hungary totaled +10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (+28.1% per year) and Estonia (+233.4% per year).

Import Prices by Country

In 2022, the average carbon dioxide import price amounted to $X per kg, with a decrease of -99.7% against the previous year. Over the period under review, the import price saw a precipitous slump. The most prominent rate of growth was recorded in 2019 when the average import price increased by 1,453% against the previous year. Over the period under review, average import prices attained the peak figure at $X per kg in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (-60.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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