Azerbaijan: Solid Biofuel Market 2024

Solid Biofuel Market Size in Azerbaijan

For the third consecutive year, the Azerbaijani solid biofuel market recorded decline in sales value, which decreased by X% to $X in 2022. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market failed to regain momentum.

Solid Biofuel Production in Azerbaijan

In value terms, solid biofuel production dropped to $X in 2022 estimated in export price. Over the period under review, production saw resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Solid biofuel production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

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Solid Biofuel Exports

Exports from Azerbaijan

In 2022, exports of solid biofuels from Azerbaijan skyrocketed to X tons, growing by X% on 2021. Over the period under review, exports enjoyed a significant increase. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, solid biofuel exports surged to $X in 2022. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Turkey (X tons) was the main destination for solid biofuel exports from Azerbaijan, with a X% share of total exports. Moreover, solid biofuel exports to Turkey exceeded the volume sent to the second major destination, Latvia (X tons), twofold. Iraq (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Turkey totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Iraq (X% per year).

In value terms, Turkey ($X) emerged as the key foreign market for solid biofuels exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was taken by Latvia ($X), with a X% share of total exports. It was followed by Russia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Turkey amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (X% per year) and Russia (X% per year).

Export Prices by Country

The average solid biofuel export price stood at $X per ton in 2022, falling by X% against the previous year. Over the period under review, the export price, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then dropped markedly in the following year.

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 Russia ($X per ton), while the average price for exports to Latvia ($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 Turkey (X%), while the prices for the other major destinations experienced mixed trend patterns.

Solid Biofuel Imports

Imports into Azerbaijan

Solid biofuel imports into Azerbaijan skyrocketed to X tons in 2022, jumping by X% compared with 2021. In general, imports saw a significant increase. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, solid biofuel imports soared to $X in 2022. Over the period under review, imports posted a significant expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Indonesia (X tons), Russia (X tons) and Nigeria (X tons) were the main suppliers of solid biofuel imports to Azerbaijan, with a combined X% share of total imports.

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

In value terms, Indonesia ($X) constituted the largest supplier of solid biofuels to Azerbaijan, comprising X% of total imports. The second position in the ranking was held by Russia ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (X% per year) and Nigeria (X% per year).

Import Prices by Country

The average solid biofuel import price stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Indonesia ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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