EU: Ethylene Market 2024

Ethylene Market Size in the EU

In 2021, the EU ethylene market increased by 7.3% to $X for the first time since 2017, thus ending a three-year declining trend. Overall, consumption, however, continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2016 when the market value increased by 8.6%. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Ethylene Production in the EU

In value terms, ethylene production stood at $X in 2021 estimated in export price. Overall, production, however, continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2016 with an increase of 11%. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Ethylene Exports

Exports in the EU

For the third consecutive year, the European Union recorded decline in shipments abroad of ethylene, which decreased by -4.4% to X tons in 2021. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of 23%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, ethylene exports skyrocketed to $X in 2021. Over the period under review, exports recorded a perceptible descent. Over the period under review, the exports attained the maximum at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, the Netherlands (X tons) represented the main exporter of ethylene, mixing up 44% of total exports. Germany (X tons) ranks second in terms of the total exports with a 14% share, followed by Belgium (12%), Italy (9.6%), France (8.4%) and Portugal (5.5%). Finland (X tons) held a relatively small share of total exports.

Exports from the Netherlands decreased at an average annual rate of -2.4% from 2012 to 2021. At the same time, Belgium (+15.3%), Finland (+12.9%), Portugal (+11.9%), Italy (+10.5%) and Germany (+2.9%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the European Union, with a CAGR of +15.3% from 2012-2021. By contrast, France (-9.5%) illustrated a downward trend over the same period. Belgium (+8.7 p.p.), Italy (+5.6 p.p.), Portugal (+3.5 p.p.), Germany (+3.1 p.p.) and Finland (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while the Netherlands and France saw its share reduced by -11.6% and -12.5% from 2012 to 2021, respectively.

In value terms, the Netherlands ($X) remains the largest ethylene supplier in the European Union, comprising 46% of total exports. The second position in the ranking was taken by Belgium ($X), with a 13% share of total exports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual growth rate of value in the Netherlands stood at -4.9%. The remaining exporting countries recorded the following average annual rates of exports growth: Belgium (+12.2% per year) and Germany (-1.3% per year).

Export Prices by Country

The export price in the European Union stood at $X per ton in 2021, with an increase of 43% against the previous year. Overall, the export price, however, continues to indicate a perceptible descent. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Finland ($X per ton) and France ($X per ton), while Germany ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Finland (-1.9%), while the other leaders experienced a decline in the export price figures.

Ethylene Imports

Imports in the EU

In 2021, purchases abroad of ethylene decreased by -4.8% to X tons for the first time since 2018, thus ending a two-year rising trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 16%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, ethylene imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a noticeable downturn. The level of import peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Belgium (X tons) represented the key importer of ethylene, making up 56% of total imports. Germany (X tons) ranks second in terms of the total imports with a 17% share, followed by the Netherlands (8.3%), Sweden (6%) and Spain (4.6%). France (X tons) and Italy (X tons) held a relatively small share of total imports.

Belgium experienced a relatively flat trend pattern with regard to volume of imports of ethylene. At the same time, Italy (+35.4%), France (+5.9%) and Sweden (+1.7%) displayed positive paces of growth. Moreover, Italy emerged as the fastest-growing importer imported in the European Union, with a CAGR of +35.4% from 2012-2021. The Netherlands and Germany experienced a relatively flat trend pattern. By contrast, Spain (-3.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Italy and Belgium increased by +2.9 and +2.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) constitutes the largest market for imported ethylene in the European Union, comprising 57% of total imports. The second position in the ranking was held by Germany ($X), with a 15% share of total imports. It was followed by the Netherlands, with an 8.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Belgium totaled -1.6%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (-5.3% per year) and the Netherlands (-3.3% per year).

Import Prices by Country

The import price in the European Union stood at $X per ton in 2021, with an increase of 39% against the previous year. In general, the import price, however, continues to indicate a pronounced setback. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in France ($X per ton) and Italy ($X per ton), while Spain ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (-1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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