CIS: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in CIS

The CIS ethyl acetate market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, showed a mild curtailment. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Ethyl Acetate Production in CIS

In value terms, ethyl acetate production rose markedly to $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible descent. The most prominent rate of growth was recorded in 2017 when the production volume increased by 24% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Ethyl Acetate Exports

Exports in CIS

In 2021, overseas shipments of ethyl acetate increased by 19% to X tons, rising for the third consecutive year after four years of decline. Over the period under review, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2020 when exports increased by 301%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the near future.

In value terms, ethyl acetate exports skyrocketed to $X in 2021. In general, exports showed a prominent increase. The growth pace was the most rapid in 2020 when exports increased by 226% against the previous year. The level of export peaked in 2021 and is likely to continue growth in the immediate term.

Exports by Country

Russia dominates exports structure, recording X tons, which was near 93% of total exports in 2021. It was distantly followed by Uzbekistan (X tons), creating a 5.4% share of total exports. Kazakhstan (X tons) held a relatively small share of total exports.

Exports from Russia increased at an average annual rate of +7.2% from 2012 to 2021. At the same time, Uzbekistan (+3,519.5%) and Kazakhstan (+71.5%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing exporter exported in the CIS, with a CAGR of +3,519.5% from 2012-2021. Uzbekistan (+5.4 p.p.) and Kazakhstan (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Russia saw its share reduced by -7% from 2012 to 2021, respectively.

In value terms, Russia ($X) remains the largest ethyl acetate supplier in the CIS, comprising 94% of total exports. The second position in the ranking was taken by Uzbekistan ($X), with a 4.3% share of total exports.

In Russia, ethyl acetate exports increased at an average annual rate of +10.5% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Uzbekistan (+3,367.8% per year) and Kazakhstan (+76.0% per year).

Export Prices by Country

In 2021, the export price in the CIS amounted to $X per ton, surging by 69% against the previous year. Export price indicated pronounced growth from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+3.1%), while the other leaders experienced mixed trends in the export price figures.

Ethyl Acetate Imports

Imports in CIS

In 2021, purchases abroad of ethyl acetate decreased by -12.6% to X tons, falling for the third year in a row after seven years of growth. Overall, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 72%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, ethyl acetate imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2017 when imports increased by 78% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Russia was the major importing country with an import of about X tons, which accounted for 66% of total imports. Belarus (X tons) ranks second in terms of the total imports with a 21% share, followed by Kazakhstan (5.7%). The following importers - Uzbekistan (X tons) and Azerbaijan (X tons) - together made up 5.1% of total imports.

Russia was also the fastest-growing in terms of the ethyl acetate imports, with a CAGR of +38.2% from 2012 to 2021. At the same time, Uzbekistan (+37.1%), Azerbaijan (+9.1%), Belarus (+4.7%) and Kazakhstan (+1.3%) displayed positive paces of growth. From 2012 to 2021, the share of Russia and Uzbekistan increased by +52 and +3.1 percentage points, respectively.

In value terms, Russia ($X) constitutes the largest market for imported ethyl acetate in the CIS, comprising 63% of total imports. The second position in the ranking was held by Belarus ($X), with a 22% share of total imports. It was followed by Kazakhstan, with a 7.3% share.

In Russia, ethyl acetate imports expanded at an average annual rate of +37.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Belarus (+7.2% per year) and Kazakhstan (+5.7% per year).

Import Prices by Country

In 2021, the import price in the CIS amounted to $X per ton, surging by 57% against the previous year. Import price indicated a mild increase from 2012 to 2021: its price increased at an average annual rate of +1.6% 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 Kazakhstan ($X per ton) and Uzbekistan ($X per ton), while Russia ($X per ton) and Azerbaijan ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (+5.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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