Belgium: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Belgium

In 2022, the Belgian octyl alcohol market increased by 8.8% to $X, rising for the seventh consecutive year after two years of decline. The market value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Octyl alcohol consumption peaked in 2022 and is likely to continue growth in the immediate term.

Octyl Alcohol Production in Belgium

In value terms, octyl alcohol production declined notably to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a strong increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by 560% against the previous year. Octyl alcohol production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Octyl Alcohol Exports

Exports from Belgium

After two years of growth, overseas shipments of octanol (octyl alcohol) and isomers thereof decreased by -93.7% to X tons in 2022. Over the period under review, exports faced a abrupt descent. The pace of growth appeared the most rapid in 2020 with an increase of 4,464% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped dramatically in the following year.

In value terms, octyl alcohol exports declined significantly to $X in 2022. Overall, exports faced a abrupt decline. The pace of growth was the most pronounced in 2020 when exports increased by 4,213%. Over the period under review, the exports attained the peak figure at $X in 2021, and then fell notably in the following year.

Exports by Country

Germany (X tons) was the main destination for octyl alcohol exports from Belgium, with a 54% share of total exports. Moreover, octyl alcohol exports to Germany exceeded the volume sent to the second major destination, Brazil (X tons), threefold. The UK (X tons) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to -18.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+191.4% per year) and the UK (-5.7% per year).

In value terms, Germany ($X) remains the key foreign market for octanol (octyl alcohol) and isomers thereof exports from Belgium, comprising 58% of total exports. The second position in the ranking was held by Brazil ($X), with a 15% share of total exports. It was followed by France, with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at -15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+193.4% per year) and France (-13.0% per year).

Export Prices by Country

The average octyl alcohol export price stood at $X per ton in 2022, increasing by 40% against the previous year. Over the period under review, export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, octyl alcohol export price increased by +80.1% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 62% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Poland ($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 France (+3.8%), while the prices for the other major destinations experienced more modest paces of growth.

Octyl Alcohol Imports

Imports into Belgium

In 2022, after three years of growth, there was significant decline in overseas purchases of octanol (octyl alcohol) and isomers thereof, when their volume decreased by -69.2% to X tons. Overall, imports recorded a deep reduction. The pace of growth appeared the most rapid in 2020 with an increase of 315%. Imports peaked at X tons in 2021, and then contracted significantly in the following year.

In value terms, octyl alcohol imports shrank significantly to $X in 2022. In general, imports saw a abrupt downturn. The pace of growth appeared the most rapid in 2020 when imports increased by 224% against the previous year. Imports peaked at $X in 2021, and then declined notably in the following year.

Imports by Country

The Netherlands (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of octyl alcohol imports to Belgium, together comprising 70% of total imports. Sweden, France, Malaysia and the United States lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +52.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest octyl alcohol suppliers to Belgium were the Netherlands ($X), Poland ($X) and Germany ($X), together accounting for 76% of total imports. Sweden, France, Malaysia and the United States lagged somewhat behind, together accounting for a further 23%.

France, with a CAGR of +33.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average octyl alcohol import price amounted to $X per ton, growing by 43% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Poland ($X per ton), while the price for France ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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