Inorganic Oxygen Compounds Of Non-Metals Market

The article discusses the projected growth in the global market for inorganic oxygen compounds of non-metals, forecasting a CAGR of +9.9% for consumption and +3.2% for value from 2022 to 2030. Belgium is highlighted as the leading consumer and producer, while the United States stands out as the top importer. Key export countries include China, the Netherlands, and Germany. Prices for both imports and exports are on an upward trend, with noticeable fluctuations in certain years.

Market Forecast

Driven by rising demand for inorganic oxygen compounds of non-metals worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +9.9% for the period from 2022 to 2030, which is projected to bring the market volume to 9.9M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market value to $7.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Inorganic Oxygen Compounds Of Non-Metals

In 2022, consumption of inorganic oxygen compounds of non-metals decreased by -44.5% to 4.7M tons, falling for the third consecutive year after four years of growth. In general, consumption showed a pronounced descent. As a result, consumption attained the peak volume of 11M tons. From 2020 to 2022, the growth of the global consumption remained at a somewhat lower figure.

The revenue of the market for inorganic oxygen compounds of non-metals worldwide rose modestly to $5.8B in 2022, growing by 2.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a pronounced decrease. Global consumption peaked at $7.2B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Consumption By Country

Belgium (3.1M tons) constituted the country with the largest volume of inorganic oxygen compounds of non-metals consumption, accounting for 66% of total volume. Moreover, inorganic oxygen compounds of non-metals consumption in Belgium exceeded the figures recorded by the second-largest consumer, China (275K tons), more than tenfold. The third position in this ranking was taken by the United States (131K tons), with a 2.8% share.

In Belgium, inorganic oxygen compounds of non-metals consumption shrank by an average annual rate of -2.3% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of consumption growth: China (-0.4% per year) and the United States (+1.1% per year).

In value terms, Japan ($1.8B) led the market, alone. The second position in the ranking was taken by the United States ($419M). It was followed by India.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to -5.6%. In the other countries, the average annual rates were as follows: the United States (+4.4% per year) and India (+1.2% per year).

In 2022, the highest levels of inorganic oxygen compounds of non-metals per capita consumption was registered in Belgium (265 kg per person), followed by Japan (0.6 kg per person), the United States (0.4 kg per person) and China (0.2 kg per person), while the world average per capita consumption of inorganic oxygen compounds of non-metals was estimated at 0.6 kg per person.

In Belgium, inorganic oxygen compounds of non-metals per capita consumption declined by an average annual rate of -2.8% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Japan (-3.6% per year) and the United States (+0.4% per year).

Production

World Production of Inorganic Oxygen Compounds Of Non-Metals

In 2022, production of inorganic oxygen compounds of non-metals decreased by -44.1% to 4.7M tons, falling for the third consecutive year after four years of growth. Over the period under review, production showed a slight contraction. The growth pace was the most rapid in 2019 when the production volume increased by 38% against the previous year. As a result, production attained the peak volume of 11M tons. From 2020 to 2022, global production growth failed to regain momentum.

In value terms, inorganic oxygen compounds of non-metals production expanded rapidly to $5.8B in 2022 estimated in export price. In general, production saw a perceptible decline. The pace of growth appeared the most rapid in 2020 with an increase of 28%. Over the period under review, global production hit record highs at $7.2B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

Belgium (3.1M tons) remains the largest inorganic oxygen compounds of non-metals producing country worldwide, comprising approx. 66% of total volume. Moreover, inorganic oxygen compounds of non-metals production in Belgium exceeded the figures recorded by the second-largest producer, China (323K tons), tenfold. The third position in this ranking was taken by India (119K tons), with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Belgium amounted to -2.2%. In the other countries, the average annual rates were as follows: China (+0.8% per year) and India (-0.4% per year).

Imports

World Imports of Inorganic Oxygen Compounds Of Non-Metals

In 2022, approx. 285K tons of inorganic oxygen compounds of non-metals were imported worldwide; growing by 6.4% against the previous year's figure. The total import volume increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 23% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, inorganic oxygen compounds of non-metals imports skyrocketed to $735M in 2022. Over the period under review, imports recorded a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 32%. Over the period under review, global imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports By Country

In 2022, the United States (62K tons), distantly followed by Austria (20K tons), Germany (20K tons), Malaysia (19K tons), Poland (17K tons) and the Czech Republic (15K tons) were the major importers of inorganic oxygen compounds of non-metals, together constituting 54% of total imports. The UK (12K tons), the Netherlands (11K tons), Belgium (11K tons), India (10K tons), Taiwan (Chinese) (8K tons), France (7.7K tons) and Finland (6.5K tons) followed a long way behind the leaders.

Imports into the United States increased at an average annual rate of +1.1% from 2012 to 2022. At the same time, Poland (+34.8%), the Czech Republic (+25.2%), India (+19.5%), Finland (+17.0%), the UK (+14.8%), Taiwan (Chinese) (+13.0%), France (+7.9%), Germany (+4.5%) and the Netherlands (+4.3%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing importer imported in the world, with a CAGR of +34.8% from 2012-2022. Austria experienced a relatively flat trend pattern. By contrast, Malaysia (-7.0%) and Belgium (-14.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Poland, the Czech Republic, the UK, India, Taiwan (Chinese), Germany and Finland increased by +5.6, +4.6, +3, +2.9, +1.9, +1.8 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest inorganic oxygen compounds of non-metals importing markets worldwide were the United States ($113M), the Netherlands ($95M) and the UK ($71M), with a combined 38% share of global imports. Poland, Taiwan (Chinese), Germany, Malaysia, Belgium, India, France, Austria, the Czech Republic and Finland lagged somewhat behind, together accounting for a further 25%.

Poland, with a CAGR of +41.9%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average import price for inorganic oxygen compounds of non-metals stood at $2,581 per ton in 2022, growing by 10% against the previous year. Over the period under review, the import price continues to indicate strong growth. The most prominent rate of growth was recorded in 2017 an increase of 15% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($8,440 per ton), while the Czech Republic ($416 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+28.4%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Inorganic Oxygen Compounds Of Non-Metals

In 2022, global inorganic oxygen compounds of non-metals exports soared to 304K tons, jumping by 19% on 2021 figures. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.5% 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 +55.1% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 30%. Over the period under review, the global exports attained the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, inorganic oxygen compounds of non-metals exports skyrocketed to $780M in 2022. In general, exports showed prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of 40% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

Exports By Country

China (53K tons), the Netherlands (42K tons) and Germany (37K tons) represented roughly 43% of total exports in 2022. Sweden (23K tons) took the next position in the ranking, followed by Poland (22K tons), Spain (17K tons), Belgium (16K tons) and Canada (14K tons). All these countries together took near 30% share of total exports. France (13K tons), Hungary (12K tons), South Korea (6.5K tons), the United States (5.7K tons) and Russia (5.4K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +76.6%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($183M), Poland ($116M) and China ($74M) were the countries with the highest levels of exports in 2022, with a combined 48% share of global exports.

Among the main exporting countries, Poland, with a CAGR of +84.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for inorganic oxygen compounds of non-metals stood at $2,565 per ton in 2022, rising by 5.8% against the previous year. Over the period under review, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inorganic oxygen compounds of non-metals export price increased by +67.1% against 2016 indices. The pace of growth appeared the most rapid in 2018 an increase of 18% against the previous year. The global export price peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Korea ($6,529 per ton), while Sweden ($222 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+10.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform