Eastern Europe: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in Eastern Europe

In 2021, the East European aromatic alcohols market increased by 6.1% to $X for the first time since 2018, thus ending a two-year declining trend. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Aromatic Alcohols Production in Eastern Europe

In value terms, aromatic alcohols production expanded significantly to $X in 2021 estimated in export price. The total production indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.7% 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 -32.1% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 43%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Aromatic Alcohols Exports

Exports in Eastern Europe

In 2021, after five years of growth, there was significant decline in shipments abroad of aromatic alcohols and their derivatives, when their volume decreased by -13.4% to X tons. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2014 with an increase of 58% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, aromatic alcohols exports declined to $X in 2021. Over the period under review, exports showed a noticeable contraction. The growth pace was the most rapid in 2016 with an increase of 35%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The Czech Republic (X tons), Poland (X tons) and Estonia (X tons) represented roughly 70% of total exports in 2021. Russia (X tons) ranks next in terms of the total exports with a 10% share, followed by Slovakia (7.1%), Romania (5.4%) and Lithuania (5%).

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +98.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X) remains the largest aromatic alcohols supplier in Eastern Europe, comprising 40% of total exports. The second position in the ranking was taken by Slovakia ($X), with a 12% share of total exports. It was followed by Poland, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the Czech Republic was relatively modest. In the other countries, the average annual rates were as follows: Slovakia (-9.5% per year) and Poland (+18.5% per year).

Export Prices by Country

In 2021, the export price in Eastern Europe amounted to $X per ton, picking up by 2.5% against the previous year. Export price indicated a temperate increase from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, aromatic alcohols export price increased by +16.9% against 2019 indices. The pace of growth appeared the most rapid in 2013 an increase of 156%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

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 Slovakia ($X per ton), while Estonia ($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 (+6.0%), while the other leaders experienced a decline in the export price figures.

Aromatic Alcohols Imports

Imports in Eastern Europe

In 2021, approx. X tons of aromatic alcohols and their derivatives were imported in Eastern Europe; rising by 7.5% against the previous year's figure. Overall, imports recorded prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 56% against the previous year. The volume of import peaked in 2021 and is likely to see gradual growth in the immediate term.

In value terms, aromatic alcohols imports surged to $X in 2021. Over the period under review, imports posted a prominent increase. The growth pace was the most rapid in 2014 with an increase of 48%. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the near future.

Imports by Country

In 2021, Poland (X tons) and Russia (X tons) were the major importers of aromatic alcohols and their derivatives in Eastern Europe, together finishing at approx. 66% of total imports. It was distantly followed by Hungary (X tons) and the Czech Republic (X tons), together achieving a 26% share of total imports. Estonia (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Estonia (with a CAGR of +20.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest aromatic alcohols importing markets in Eastern Europe were Poland ($X), Russia ($X) and Hungary ($X), with a combined 74% share of total imports.

Among the main importing countries, Hungary, with a CAGR of +15.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, picking up by 16% against the previous year. In general, the import price, however, continues to indicate a noticeable curtailment. The level of import peaked 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 importing countries. In 2021, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Hungary ($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 (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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