Eastern Europe: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Eastern Europe

In 2021, the East European ethyl acetate market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, saw a slight reduction. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Ethyl Acetate Production in Eastern Europe

In value terms, ethyl acetate production totaled $X in 2021 estimated in export price. Overall, production, however, saw a pronounced downturn. The growth pace was the most rapid in 2017 with an increase of 24% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Ethyl Acetate Exports

Exports in Eastern Europe

In 2021, after two years of decline, there was significant growth in overseas shipments of ethyl acetate, when their volume increased by 29% to X tons. The total export volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of export peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, ethyl acetate exports surged to $X in 2021. Total exports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +4.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Ukraine was the largest exporting country with an export of around X tons, which reached 66% of total exports. It was distantly followed by Bulgaria (X tons) and Russia (X tons), together making up a 25% share of total exports. The Czech Republic (X tons) and Slovakia (X tons) followed a long way behind the leaders.

Exports from Ukraine decreased at an average annual rate of -1.1% from 2012 to 2021. At the same time, Bulgaria (+46.7%), the Czech Republic (+31.0%), Slovakia (+23.5%) and Russia (+7.2%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +46.7% from 2012-2021. From 2012 to 2021, the share of Bulgaria, Russia, the Czech Republic and Slovakia increased by +13, +4.3, +3.4 and +1.5 percentage points, respectively.

In value terms, Ukraine ($X) remains the largest ethyl acetate supplier in Eastern Europe, comprising 49% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 20% share of total exports. It was followed by Russia, with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Ukraine amounted to -1.4%. In the other countries, the average annual rates were as follows: Bulgaria (+50.1% per year) and Russia (+10.5% per year).

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, jumping by 40% against the previous year. Export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ethyl acetate export price increased by +91.6% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, 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 Russia (+3.1%), while the other leaders experienced more modest paces of growth.

Ethyl Acetate Imports

Imports in Eastern Europe

In 2021, overseas purchases of ethyl acetate increased by 1.3% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2017 when imports increased by 46% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, ethyl acetate imports skyrocketed to $X in 2021. Overall, imports saw a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Poland (X tons), distantly followed by Russia (X tons), the Czech Republic (X tons), Hungary (X tons), Bulgaria (X tons), Ukraine (X tons), Belarus (X tons) and Slovakia (X tons) represented the major importers of ethyl acetate, together mixing up 93% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Russia (with a CAGR of +38.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X) constitutes the largest market for imported ethyl acetate in Eastern Europe, comprising 30% of total imports. The second position in the ranking was held by Russia ($X), with a 13% share of total imports. It was followed by the Czech Republic, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Poland stood at +5.4%. In the other countries, the average annual rates were as follows: Russia (+37.6% per year) and the Czech Republic (+16.2% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, with an increase of 72% 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-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained 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 the Czech Republic ($X per ton) and Slovakia ($X per ton), while Russia ($X per ton) and Belarus ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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