Canada: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Canada

In 2021, the Canadian ethyl acetate market increased by 50% to $X, rising for the fifth consecutive year after four years of decline. Over the period under review, the total consumption indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +85.6% against 2016 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ethyl Acetate Exports

Exports from Canada

In 2021, after two years of decline, there was significant growth in shipments abroad of ethyl acetate, when their volume increased by 1,016% to X tons. In general, exports recorded modest growth. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, ethyl acetate exports soared to $X in 2021. Over the period under review, exports saw a resilient increase. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for ethyl acetate exports from Canada, with a 81% share of total exports. Moreover, ethyl acetate exports to the United States exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold. Turkey (X tons) ranked third in terms of total exports with a 5% share.

From 2012 to 2021, the average annual growth rate of volume to the United States totaled +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (0.0% per year) and Turkey (0.0% per year).

In value terms, the United States ($X) remains the key foreign market for ethyl acetate exports from Canada, comprising 94% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 1.8% share of total exports. It was followed by Turkey, with a 1.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (0.0% per year) and Turkey (0.0% per year).

Export Prices by Country

In 2021, the average ethyl acetate export price amounted to $X per ton, surging by 97% against the previous year. In general, the export price enjoyed strong growth. The growth pace was the most rapid in 2018 when the average export price increased by 110%. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+9.1%), while the prices for the other major destinations experienced mixed trend patterns.

Ethyl Acetate Imports

Imports into Canada

In 2021, overseas purchases of ethyl acetate increased by 41% to X tons, rising for the third consecutive year after two years of decline. Overall, total imports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +75.8% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ethyl acetate imports skyrocketed to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest ethyl acetate supplier to Canada, with a 54% share of total imports. Moreover, ethyl acetate imports from the United States exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. Brazil (X tons) ranked third in terms of total imports with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled -1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+58.1% per year) and Brazil (+4.8% per year).

In value terms, the United States ($X) constituted the largest supplier of ethyl acetate to Canada, comprising 66% of total imports. The second position in the ranking was held by Mexico ($X), with a 15% share of total imports. It was followed by Brazil, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled -1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+47.7% per year) and Brazil (+1.9% per year).

Import Prices by Country

In 2021, the average ethyl acetate import price amounted to $X per ton, picking up by 9.5% against the previous year. Over the period under review, the import price, however, showed a pronounced downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 23%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Africa (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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