Updated Oct 27, 2022 04:01

Flax Fiber Market in Norway

Market Overview
Please note: Annual data for 2022 are preliminary and subject to revision
In , the Norwegian flax fiber market was finally on the rise to reach $ for the first time since 2017, thus ending a two-year declining trend. Over the period under review, consumption recorded a strong expansion. Over the period under review, the market hit record highs at $ in 2017; however, from 2018 to , consumption failed to regain momentum.


Consumption
Please note: Annual data for 2022 are preliminary and subject to revision
Flax fiber consumption in Norway amounted to tons in , growing by % compared with the year before. Over the period under review, consumption recorded a resilient expansion. Over the period under review, consumption reached the peak volume at tons in 2017; however, from 2018 to , consumption remained at a lower figure.

The value of the flax fiber market in Norway rose markedly to $ in , 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, consumption saw a remarkable increase. Over the period under review, the market reached the maximum level at $ in 2017; however, from 2018 to , consumption remained at a lower figure.


Market Forecast
Please note: Annual data for 2022 are preliminary and subject to revision
Driven by increasing demand for flax fiber in Norway, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

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


Market Structure
Please note: Annual data for 2022 are preliminary and subject to revision
Flax fiber market in Norway consists almost entirely of imported products. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Please note: Annual data for 2022 are preliminary and subject to revision
Norway remains a net importer of flax fiber; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, 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.