Benelux: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in Benelux

In 2022, the Benelux ethylene glycol market increased by 22% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption recorded a strong expansion. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Ethylene Glycol Production in Benelux

In value terms, ethylene glycol production fell to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 32% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ethylene Glycol Exports

Exports in Benelux

In 2022, after two years of growth, there was significant decline in shipments abroad of ethylene glycol (ethanediol), when their volume decreased by -45.4% to X tons. In general, exports saw a abrupt contraction. The pace of growth appeared the most rapid in 2020 with an increase of 42% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ethylene glycol exports plummeted to $X in 2022. Overall, exports recorded a deep setback. The pace of growth appeared the most rapid in 2021 with an increase of 70% against the previous year. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Belgium (X tons) represented the major exporter of ethylene glycol (ethanediol), achieving 80% of total exports. It was distantly followed by the Netherlands (X tons), generating a 20% share of total exports.

Belgium was also the fastest-growing in terms of the ethylene glycol (ethanediol) exports, with a CAGR of -8.3% from 2012 to 2022. The Netherlands (-9.0%) illustrated a downward trend over the same period. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) remains the largest ethylene glycol supplier in Benelux, comprising 79% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 21% share of total exports.

In Belgium, ethylene glycol exports decreased by an average annual rate of -10.1% over the period from 2012-2022.

Export Prices by Country

The export price in Benelux stood at $X per ton in 2022, surging by 4.4% against the previous year. In general, the export price, however, recorded a slight descent. The growth pace was the most rapid in 2021 when the export price increased by 51% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while Belgium amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (-1.7%).

Ethylene Glycol Imports

Imports in Benelux

In 2022, approx. X tons of ethylene glycol (ethanediol) were imported in Benelux; waning by -49.3% against the year before. Overall, imports showed a abrupt setback. The growth pace was the most rapid in 2020 when imports increased by 26%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, ethylene glycol imports dropped sharply to $X in 2022. In general, imports recorded a abrupt decline. The pace of growth was the most pronounced in 2021 with an increase of 41%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X tons) represented the major importer of ethylene glycol (ethanediol), achieving 79% of total imports. It was distantly followed by the Netherlands (X tons), committing a 19% share of total imports. Luxembourg (X tons) followed a long way behind the leaders.

Imports into Belgium decreased at an average annual rate of -3.5% from 2012 to 2022. Luxembourg experienced a relatively flat trend pattern. the Netherlands (-14.5%) illustrated a downward trend over the same period. Belgium (+24 p.p.) significantly strengthened its position in terms of the total imports, while the Netherlands saw its share reduced by -25.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) constitutes the largest market for imported ethylene glycol (ethanediol) in Benelux, comprising 75% of total imports. The second position in the ranking was held by the Netherlands ($X), with a 23% share of total imports.

In Belgium, ethylene glycol imports shrank by an average annual rate of -6.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (-14.5% per year) and Luxembourg (-2.3% per year).

Import Prices by Country

In 2022, the import price in Benelux amounted to $X per ton, growing by 7.8% against the previous year. In general, the import price, however, saw a noticeable shrinkage. The pace of growth was the most pronounced in 2021 when the import price increased by 51% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+0.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform