Estonia: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Estonia

The Estonian polypropylene in primary forms market dropped slightly to $X in 2022, therefore, remained relatively stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +70.7% against 2020 indices. As a result, consumption reached the peak level of $X, leveling off in the following year.

Exports of Polypropylene in Primary Forms

Exports from Estonia

After three years of decline, overseas shipments of polypropylene in primary forms increased by 39% to X tons in 2022. In general, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 119%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, polypropylene in primary forms exports skyrocketed to $X in 2022. Over the period under review, exports recorded resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 111%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Lithuania (X tons), Russia (X tons) and the Netherlands (X tons) were the main destinations of polypropylene in primary forms exports from Estonia, together accounting for 83% of total exports. Hong Kong SAR, Sweden, the Czech Republic and Austria lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +31.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Lithuania ($X), Russia ($X) and the Netherlands ($X) appeared to be the largest markets for polypropylene in primary forms exported from Estonia worldwide, together comprising 89% of total exports. Hong Kong SAR, Sweden, the Czech Republic and Austria lagged somewhat behind, together comprising a further 9.1%.

In terms of the main countries of destination, Hong Kong SAR, with a CAGR of +105.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polypropylene in primary forms export price stood at $X per ton in 2022, rising by 21% against the previous year. Overall, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, polypropylene in primary forms export price increased by +82.2% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by 50% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Austria ($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 Hong Kong SAR (+56.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polypropylene in Primary Forms

Imports into Estonia

In 2022, imports of polypropylene in primary forms into Estonia expanded sharply to X tons, surging by 5.9% compared with the year before. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2017 with an increase of 18% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, polypropylene in primary forms imports amounted to $X in 2022. In general, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +82.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 82% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Israel (X tons), Lithuania (X tons) and Sweden (X tons) were the main suppliers of polypropylene in primary forms imports to Estonia, together comprising 50% of total imports. Germany, Egypt, Russia, Latvia, France, Finland, Poland and Hungary lagged somewhat behind, together comprising a further 19%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Egypt (with a CAGR of +1,400.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polypropylene in primary forms suppliers to Estonia were Israel ($X), Lithuania ($X) and Sweden ($X), together accounting for 47% of total imports. Germany, Russia, Egypt, Latvia, France, Finland, Poland and Hungary lagged somewhat behind, together accounting for a further 20%.

Among the main suppliers, Egypt, with a CAGR of +1,314.3%, saw the highest growth rate of 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 average polypropylene in primary forms import price stood at $X per ton in 2022, with a decrease of -5.3% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 63%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Finland ($X per ton), while the price for Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform