Alumina Market Overview in Iceland
Market Overview
The Icelandic alumina market soared to $
in 2019, growing by % 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). Over the period under review, the total consumption indicated a strong increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the market value increased by % y-o-y. As a result, consumption attained the peak level of $. From 2009 to 2019, the growth of the market remained at a somewhat lower figure.
in 2019, growing by % 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). Over the period under review, the total consumption indicated a strong increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 when the market value increased by % y-o-y. As a result, consumption attained the peak level of $. From 2009 to 2019, the growth of the market remained at a somewhat lower figure.Consumption
In 2019, approx. tonnes of alumina were consumed in Iceland; picking up by % on the previous year. In general, the total consumption indicated a prominent expansion from 2007 to 2019: its volume increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption decreased by -% against 2017 indices. Over the period under review, consumption hit record highs at tonnes in 2008; however, from 2009 to 2019, consumption remained at a lower figure.
The revenue of the alumina market in Iceland soared to $ in 2019, picking up by % 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, the total consumption indicated a remarkable increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of % against the previous year. As a result, consumption reached the peak level of $. From 2009 to 2019, the growth of the market remained at a somewhat lower figure.
tonnes of alumina were consumed in Iceland; picking up by % on the previous year. In general, the total consumption indicated a prominent expansion from 2007 to 2019: its volume increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption decreased by -% against 2017 indices. Over the period under review, consumption hit record highs at tonnes in 2008; however, from 2009 to 2019, consumption remained at a lower figure.The revenue of the alumina market in Iceland soared to $
in 2019, picking up by % 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, the total consumption indicated a remarkable increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2008 with an increase of % against the previous year. As a result, consumption reached the peak level of $. From 2009 to 2019, the growth of the market remained at a somewhat lower figure.Market Forecast
Driven by increasing demand for alumina in Iceland, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .
% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .Trade Balance
Iceland remains a net importer of alumina; in physical and value terms, imports consistently exceeded exports from 2007 to 2019. In 2019, there was a significant trade deficit of tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
tonnes, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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