United Kingdom: Sulphites Market 2024

Sulphites Market Size in the UK

In 2022, the UK sulphites market decreased by -5.4% to $X, falling for the second consecutive year after nine years of growth. In general, consumption, however, enjoyed a prominent expansion. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Sulphites Production in the UK

In value terms, sulphites production rose modestly to $X in 2022 estimated in export price. Overall, production recorded a strong increase. The most prominent rate of growth was recorded in 2014 with an increase of 13%. Sulphites production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Sulphites Exports

Exports from the UK

In 2022, overseas shipments of sulphites increased by 127% to X tons for the first time since 2016, thus ending a five-year declining trend. Over the period under review, total exports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, sulphites exports soared to $X in 2022. In general, exports showed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ireland (X tons), Norway (X tons) and Angola (X tons) were the main destinations of sulphites exports from the UK, together accounting for 67% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of +49.0%), while the other leaders experienced more modest paces of growth.

In value terms, Ireland ($X), Norway ($X) and Angola ($X) were the largest markets for sulphites exported from the UK worldwide, together comprising 62% of total exports.

Norway, with a CAGR of +51.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average sulphites export price amounted to $X per ton, with an increase of 17% against the previous year. Over the period under review, export price indicated a mild expansion from 2012 to 2022: its price increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, sulphites export price increased by +40.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 36%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while the average price for exports to the Netherlands ($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 Ireland (+8.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphites Imports

Imports into the UK

Sulphites imports into the UK expanded notably to X tons in 2022, surging by 14% compared with the previous year. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 when imports increased by 40% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, sulphites imports totaled $X in 2022. Over the period under review, total imports indicated a noticeable expansion 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 +51.4% against 2020 indices. The most prominent rate of growth was recorded in 2017 with an increase of 39% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Italy (X tons) constituted the largest sulphites supplier to the UK, accounting for a 68% share of total imports. Moreover, sulphites imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was taken by Turkey (X tons), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy stood at +2.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.9% per year) and Turkey (-1.1% per year).

In value terms, Italy ($X) constituted the largest supplier of sulphites to the UK, comprising 65% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by Turkey, with a 7.4% share.

From 2012 to 2022, the average annual growth rate of value from Italy stood at +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.8% per year) and Turkey (+2.6% per year).

Import Prices by Country

In 2022, the average sulphites import price amounted to $X per ton, which is down by -2.1% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.1% 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 +34.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average import price increased by 37% against the previous year. As a result, import price reached the peak level of $X per ton, and then contracted slightly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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