Eastern Europe: Cumene Market 2024

Cumene Market Size in Eastern Europe

The East European cumene market skyrocketed to $X in 2021, surging by 24% against the previous year. Over the period under review, consumption, however, recorded a pronounced reduction. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Cumene Production in Eastern Europe

In value terms, cumene production expanded remarkably to $X in 2021 estimated in export price. In general, production, however, saw a perceptible reduction. The growth pace was the most rapid in 2017 when the production volume increased by 9.3% against the previous year. Over the period under review, production attained the maximum level at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Cumene Exports

Exports in Eastern Europe

In 2021, shipments abroad of cumene decreased by -33.9% to X tons, falling for the second consecutive year after two years of growth. Overall, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2016 with an increase of 797% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, cumene exports rose modestly to $X in 2021. Over the period under review, exports, however, saw a significant increase. The growth pace was the most rapid in 2016 with an increase of 603%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from Russia (X tons), together amounting to 100% of total export.

Russia was also the fastest-growing in terms of the cumene exports, with a CAGR of +38.8% from 2012 to 2021. From 2012 to 2021, the share of Russia increased by +4.8 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) also remains the largest cumene supplier in Eastern Europe.

From 2012 to 2021, the average annual growth rate of value in Russia stood at +36.1%.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, with an increase of 58% against the previous year. Overall, the export price, however, showed a mild setback. The level of export peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Russia.

From 2012 to 2021, the rate of growth in terms of prices for Russia amounted to -2.0% per year.

Cumene Imports

Imports in Eastern Europe

In 2021, overseas purchases of cumene decreased by -43.3% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 807%. The volume of import peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, cumene imports shrank markedly to $X in 2021. In general, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 when imports increased by 125% against the previous year. As a result, imports reached the peak of $X, and then shrank dramatically in the following year.

Imports by Country

Russia represented the major importer of cumene in Eastern Europe, with the volume of imports recording X tons, which was approx. 79% of total imports in 2021. It was distantly followed by the Czech Republic (X tons) and Ukraine (X tons), together achieving a 21% share of total imports.

Imports into Russia increased at an average annual rate of +54.9% from 2012 to 2021. At the same time, the Czech Republic (+227.9%) displayed positive paces of growth. Moreover, the Czech Republic emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +227.9% from 2012-2021. By contrast, Ukraine (-2.4%) illustrated a downward trend over the same period. While the share of Russia (+68 p.p.) and the Czech Republic (+14 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ukraine (-54.1 p.p.) displayed negative dynamics.

In value terms, Russia ($X) constitutes the largest market for imported cumene in Eastern Europe, comprising 75% of total imports. The second position in the ranking was held by the Czech Republic ($X), with a 20% share of total imports.

In Russia, cumene imports increased at an average annual rate of +44.3% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the Czech Republic (+175.2% per year) and Ukraine (-7.9% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, increasing by 31% against the previous year. Overall, the import price, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2020 when the import price increased by 619%. Over the period under review, import prices hit record highs 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 ($X per ton), while Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (-5.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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