Central Asia: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Central Asia

The Central Asian ethyl acetate market reduced to $X in 2021, stabilizing at the previous year. The total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +3.0% 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 decreased by -4.1% against 2018 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Ethyl Acetate Production in Central Asia

In value terms, ethyl acetate production amounted to $X in 2021 estimated in export price. The total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -6.5% against 2018 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 39%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Ethyl Acetate Exports

Exports in Central Asia

For the seventh consecutive year, Central Asia recorded growth in shipments abroad of ethyl acetate, which increased by 363% to X tons in 2021. In general, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 11,879% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, ethyl acetate exports skyrocketed to $X in 2021. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2013 with an increase of 2,435% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in years to come.

Exports by Country

In 2021, Uzbekistan (X tons) represented the key exporter of ethyl acetate, mixing up 78% of total exports. It was distantly followed by Kazakhstan (X tons), constituting a 22% share of total exports.

Uzbekistan was also the fastest-growing in terms of the ethyl acetate exports, with a CAGR of +3,519.5% from 2012 to 2021. At the same time, Kazakhstan (+71.5%) displayed positive paces of growth. Uzbekistan (+78 p.p.) significantly strengthened its position in terms of the total exports, while Kazakhstan saw its share reduced by -77.5% from 2012 to 2021, respectively.

In value terms, Uzbekistan ($X) emerged as the largest ethyl acetate supplier in Central Asia, comprising 69% of total exports. The second position in the ranking was taken by Kazakhstan ($X), with a 31% share of total exports.

From 2012 to 2021, the average annual growth rate of value in Uzbekistan stood at +3,367.8%.

Export Prices by Country

The export price in Central Asia stood at $X per ton in 2021, increasing by 6.4% against the previous year. Overall, the export price, however, recorded a slight setback. The most prominent rate of growth was recorded in 2014 when the export price increased by 309%. Over the period under review, the export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Uzbekistan totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+2.6%).

Ethyl Acetate Imports

Imports in Central Asia

In 2021, purchases abroad of ethyl acetate decreased by -33.6% to X tons for the first time since 2015, thus ending a five-year rising trend. Over the period under review, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when imports increased by 54%. The volume of import peaked at X tons in 2020, and then shrank markedly in the following year.

In value terms, ethyl acetate imports reached $X in 2021. Overall, imports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 56%. The level of import peaked in 2021 and is expected to retain growth in the near future.

Imports by Country

Kazakhstan was the main importing country with an import of about X tons, which reached 60% of total imports. It was distantly followed by Uzbekistan (X tons) and Kyrgyzstan (X tons), together achieving a 38% share of total imports. Turkmenistan (X tons) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Kyrgyzstan (with a CAGR of +146.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Kazakhstan ($X) constitutes the largest market for imported ethyl acetate in Central Asia, comprising 63% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with a 28% share of total imports. It was followed by Kyrgyzstan, with a 5.8% share.

From 2012 to 2021, the average annual growth rate of value in Kazakhstan stood at +5.7%. In the other countries, the average annual rates were as follows: Uzbekistan (+34.5% per year) and Kyrgyzstan (+70.1% per year).

Import Prices by Country

In 2021, the import price in Central Asia amounted to $X per ton, picking up by 54% against the previous year. Import price indicated a tangible expansion from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Kyrgyzstan ($X per ton) and Kazakhstan ($X per ton), while Uzbekistan ($X per ton) and Turkmenistan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+4.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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