Estonia: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in Estonia

The Estonian polyphenols and phenol-alcohols market shrank to $X in 2022, dropping by -13.8% against the previous year. Overall, consumption continues to indicate a noticeable downturn. Polyphenols and phenol-alcohols consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Polyphenols And Phenol-Alcohols Production in Estonia

In value terms, polyphenols and phenol-alcohols production rose significantly to $X in 2022 estimated in export price. Over the period under review, production enjoyed significant growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 331%. Polyphenols and phenol-alcohols production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Polyphenols And Phenol-Alcohols Exports

Exports from Estonia

In 2022, polyphenols and phenol-alcohols exports from Estonia totaled X tons, leveling off at the previous year's figure. Over the period under review, exports showed a significant increase. The growth pace was the most rapid in 2018 when exports increased by 248%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, polyphenols and phenol-alcohols exports reached $X in 2022. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2018 when exports increased by 198% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

China (X tons) was the main destination for polyphenols and phenol-alcohols exports from Estonia, accounting for a 67% share of total exports. Moreover, polyphenols and phenol-alcohols exports to China exceeded the volume sent to the second major destination, Thailand (X tons), threefold. India (X tons) ranked third in terms of total exports with a 6.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to +73.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (+495.4% per year) and India (+60.5% per year).

In value terms, China ($X) remains the key foreign market for polyphenols and phenol-alcohols exports from Estonia, comprising 51% of total exports. The second position in the ranking was held by Russia ($X), with a 15% share of total exports. It was followed by Thailand, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to China stood at +34.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+53.1% per year) and Thailand (+177.0% per year).

Export Prices by Country

In 2022, the average polyphenols and phenol-alcohols export price amounted to $X per ton, increasing by 11% against the previous year. Over the period under review, the export price, however, saw a abrupt descent. The most prominent rate of growth was recorded in 2013 an increase of 108% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the UK (+42.0%), while the prices for the other major destinations experienced mixed trend patterns.

Polyphenols And Phenol-Alcohols Imports

Imports into Estonia

In 2022, polyphenols and phenol-alcohols imports into Estonia fell significantly to X kg, dropping by -57.3% against the previous year's figure. Overall, imports continue to indicate a sharp shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 172%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, polyphenols and phenol-alcohols imports shrank significantly to $X in 2022. Over the period under review, imports faced a precipitous slump. The pace of growth was the most pronounced in 2021 with an increase of 95%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X kg), the United States (X kg) and Canada (X kg) were the main suppliers of polyphenols and phenol-alcohols imports to Estonia, together comprising 74% of total imports. Belgium, the UK, Australia and Israel lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the biggest increases were recorded for the UK (with a CAGR of +83.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United States ($X) and Canada ($X) appeared to be the largest polyphenols and phenol-alcohols suppliers to Estonia, with a combined 83% share of total imports. Australia, the UK, Israel and Belgium lagged somewhat behind, together comprising a further 8.3%.

Among the main suppliers, the UK, with a CAGR of +72.8%, recorded 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

In 2022, the average polyphenols and phenol-alcohols import price amounted to $X per ton, surging by 34% against the previous year. In general, the import price recorded a significant expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 746% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+78.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform