United Kingdom: Sulphuric Acid Market 2024

Sulphuric Acid Market Size in the UK

The UK sulphuric acid market expanded modestly to $X in 2022, surging by 3.1% against the previous year. Overall, the total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +10.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +59.9% against 2016 indices. Sulphuric acid consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Sulphuric Acid Production in the UK

In value terms, sulphuric acid production contracted modestly to $X in 2022 estimated in export price. Overall, the total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +10.7% 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 -0.9% against 2019 indices. The growth pace was the most rapid in 2013 when the production volume increased by 117%. Over the period under review, production reached the peak level at $X in 2014; afterwards, it flattened through to 2022.

Sulphuric Acid Exports

Exports from the UK

Sulphuric acid exports from the UK contracted to X tons in 2022, reducing by -11.1% compared with 2021 figures. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 17%. As a result, the exports reached the peak of X tons, and then fell in the following year.

In value terms, sulphuric acid exports fell sharply to $X in 2022. Over the period under review, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 54% against the previous year. As a result, the exports reached the peak of $X, and then dropped remarkably in the following year.

Exports by Country

France (X tons) was the main destination for sulphuric acid exports from the UK, with a 46% share of total exports. Moreover, sulphuric acid exports to France exceeded the volume sent to the second major destination, the United States (X tons), fivefold. The third position in this ranking was held by Ireland (X tons), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled +12.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+110.6% per year) and Ireland (-15.0% per year).

In value terms, France ($X) remains the key foreign market for sulphuric acid and oleum exports from the UK, comprising 65% of total exports. The second position in the ranking was taken by the United States ($X), with an 11% share of total exports. It was followed by Israel, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value to France stood at +14.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+90.2% per year) and Israel (+15.4% per year).

Export Prices by Country

The average sulphuric acid export price stood at $X per ton in 2022, declining by -8.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.2%. The pace of growth appeared the most rapid in 2021 an increase of 32%. As a result, the export price attained the peak level of $X per ton, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Ireland ($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 (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Sulphuric Acid Imports

Imports into the UK

In 2022, approx. X tons of sulphuric acid and oleum were imported into the UK; jumping by 21% against the previous year's figure. In general, imports showed buoyant growth. The pace of growth was the most pronounced in 2016 when imports increased by 65%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, sulphuric acid imports surged to $X in 2022. Overall, imports posted a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by 57%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Finland (X tons), Sweden (X tons) and Germany (X tons) were the main suppliers of sulphuric acid imports to the UK, with a combined 83% share of total imports. Norway, Belgium and Ireland lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of +42.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest sulphuric acid suppliers to the UK were Sweden ($X), Germany ($X) and Finland ($X), with a combined 71% share of total imports. Belgium, Norway and Ireland lagged somewhat behind, together comprising a further 26%.

Ireland, with a CAGR of +39.9%, 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

The average sulphuric acid import price stood at $X per ton in 2022, picking up by 11% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.3% 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 +70.5% against 2018 indices. The most prominent rate of growth was recorded in 2020 an increase of 20% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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