Scandinavia: Market for Formic Acid, Its Salts And Esters 2024

Market Size for Formic Acid, Its Salts And Esters in Scandinavia

In 2023, after two years of growth, there was significant decline in the Scandinavia market for formic acid, its salts and esters, when its value decreased by X% to $X. Over the period under review, consumption recorded a abrupt slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Production of Formic Acid, Its Salts And Esters in Scandinavia

In value terms, production of formic acid, its salts and esters expanded remarkably to $X in 2023 estimated in export price. Overall, production, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production of attained the maximum level at $X in 2012; however, from 2013 to 2023, production failed to regain momentum.

Exports of Formic Acid, Its Salts And Esters

Exports in Scandinavia

In 2023, exports of formic acid, its salts and esters in Scandinavia rose rapidly to X tons, surging by X% against the previous year's figure. In general, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The volume of export peaked at X tons in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of formic acid, its salts and esters expanded slightly to $X in 2023. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

Finland was the main exporting country with an export of around X tons, which finished at X% of total exports. It was distantly followed by Norway (X tons), comprising a X% share of total exports.

Finland was also the fastest-growing in terms of the formic acid, its salts and esters exports, with a CAGR of X% from 2012 to 2023. At the same time, Norway (X%) displayed positive paces of growth. Finland (X p.p.) significantly strengthened its position in terms of the total exports, while Norway saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Finland ($X) and Norway ($X) appeared to be the countries with the highest levels of exports in 2023.

In terms of the main exporting countries, Norway, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Export Prices by Country

In 2023, the export price in Scandinavia amounted to $X per ton, shrinking by X% against the previous year. Overall, the export price recorded a deep setback. The growth pace was the most rapid in 2015 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Norway ($X per ton), while Finland amounted to $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Norway (X%).

Imports of Formic Acid, Its Salts And Esters

Imports in Scandinavia

In 2023, after two years of growth, there was significant decline in supplies from abroad of formic acid, its salts and esters, when their volume decreased by X% to X tons. Over the period under review, imports saw a perceptible decline. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports reached the peak of X tons, and then shrank sharply in the following year.

In value terms, imports of formic acid, its salts and esters fell slightly to $X in 2023. Overall, imports saw a mild downturn. The growth pace was the most rapid in 2017 with an increase of X%. As a result, imports attained the peak of $X. From 2018 to 2023, the growth of imports of failed to regain momentum.

Imports by Country

Sweden (X tons) and Norway (X tons) prevails in esters structure, together achieving X% of total imports. It was distantly followed by Finland (X tons), making up an X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Sweden (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Norway ($X), Sweden ($X) and Finland ($X) appeared to be the countries with the highest levels of imports in 2023, together comprising X% of total imports.

In terms of the main importing countries, Sweden, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2023, the import price in Scandinavia amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2023, the import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Norway (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform