Inorganic oxygen compounds of non-metals market in Finland

Earlier Report Observations

The market for inorganic oxygen compounds in Finland declined from 86 million USD in 2018 to 75 million USD in 2020. This contraction was influenced by the implementation of stricter environmental emission standards for chemical plants, which affected production processes. The downturn was further accelerated in 2020 by COVID-19 pandemic disruptions that constrained raw material availability across supply chains.

A strong recovery followed, with the market expanding to 92 million USD by 2022. This growth was propelled by a shift in consumer preference toward environmentally friendly and traceable chemical products, which reshaped market offerings. Concurrently, major Finnish chemical companies, including state-owned players like Neste and Fortum, invested in new production technologies to improve efficiency and reduce their carbon footprint, supporting the market's upward trajectory.

In the subsequent years, the market entered a phase of stabilization, hovering around 89 million USD in 2023 and 2024. This reflected a period of consolidation following the earlier regulatory adjustments and significant industry investments.

Production inorganic oxygen compounds of non-metals in Finland

In value, 2017-2020, K $ US

In 2020, Finland's production of inorganic oxygen compounds of non-metals was valued at 65 426 K $ US, remaining virtually unchanged from the previous year. Over the period from 2017 to 2020, production increased by 24.8%, with a compound annual growth rate of 7.7%. The highest value was recorded in 2018 at 72 611 K $ US, which represented a 38.5% increase. However, production saw its largest decline in 2019, dropping by 10.0%.

Annual dynamics of production in Finland in value, 2017-2020, K $ US

Exports inorganic oxygen compounds of non-metals from Finland

Exports in kind, t

The data shows irregular changes, indicating a volatile market environment. Exports peaked in 2018 and reached their lowest point in 2020, with a 120-fold swing between these years. In 2020, the volume of inorganic oxygen compounds of non-metals leaving Finland was 0.0 t, which is 1 614.3% higher compared to 2019.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

From 2017 to 2020, the structure of exports in kind was dominated by a single market: Latvia, which accounted for 93.8% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, K $ US

In 2020, Finland's export volume of inorganic oxygen compounds of non-metals was recorded at 0.0 K $ US, representing a small decline of 1.4% compared to the previous year. Between 2017 and 2020, exports decreased by 92%, equating to an annualized rate of 57.0%.

Annual dynamics of product's exports from Finland in value, 2017-2020, K $ US

From 2017 to 2020, Germany and Latvia remained the main markets for exports in value terms, jointly accounting for 96.1% of total flows, while other partners made up the remaining share.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports inorganic oxygen compounds of non-metals to Finland

Imports in kind, t

Volatility characterized the market behavior during these years. Imports varied 29 times from the high in 2018 to the low in 2019. In 2020, Finland imported 8 183 t of inorganic oxygen compounds of non-metals, showing a dramatic rise of 1 895.4% from a year earlier. The minimum value was recorded in 2019 at 410 t, while the maximum was in 2018 at 11 701 t. The largest decline occurred in 2019, with a drop of 96.5%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

From 2017 to 2020, Russia (34.6% of imports in kind), Norway (25.1% of imports in kind), and France (7.5% of imports in kind) continued to be the main suppliers of inorganic oxygen compounds of non-metals to Finland, jointly forming 67.2% of total imports in kind.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, K $ US

Finland's volume of inorganic oxygen compounds of non-metals imports declined for the second consecutive year. In 2020, imports amounted to 9 357 K $ US, constituting a decline of 15.1% versus the previous year. Over the period from 2017 to 2020, imports decreased by 25.5%, with a compound annual growth rate of 9.3%. The maximum value was recorded in 2018 at 13 484 K $ US, which represented a 7.4% increase. However, the largest decline occurred in 2019, with a drop of 18.3%.

Annual dynamics of product's imports to Finland in value, 2017-2020, K $ US

During 2017 to 2020, Germany (22.8% of imports in value terms), the United States (13.2% of imports in value terms), and Russia (12.1% of imports in value terms) were important suppliers of inorganic oxygen compounds of non-metals to Finland, but their combined share reached only 48.1% of total imports in value terms. The remaining 51.9% was distributed among many other partners.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020