Europe: Ethylene Market 2024

Ethylene Market Size in Europe

After three years of decline, the Europe ethylene market increased by 5.5% to $X in 2021. Over the period under review, consumption saw a slight setback. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Ethylene Production in Europe

In value terms, ethylene production totaled $X in 2021 estimated in export price. In general, production saw a pronounced reduction. The pace of growth was the most pronounced in 2013 with an increase of 8.5% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Ethylene Exports

Exports in Europe

In 2021, the amount of ethylene exported in Europe reduced to X tons, shrinking by -8.8% on the previous year. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 8.9% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, ethylene exports soared to $X in 2021. Over the period under review, exports saw a pronounced decline. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, the Netherlands (X tons) was the largest exporter of ethylene, creating 33% of total exports. Norway (X tons) ranks second in terms of the total exports with a 15% share, followed by Germany (11%), Belgium (9.3%), the UK (8.2%), Italy (7.3%) and France (6.4%).

Exports from the Netherlands decreased at an average annual rate of -2.4% from 2012 to 2021. At the same time, Belgium (+15.3%), Norway (+12.3%), Italy (+10.5%) and Germany (+2.9%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in Europe, with a CAGR of +15.3% from 2012-2021. By contrast, France (-9.5%) and the UK (-11.7%) illustrated a downward trend over the same period. Norway (+10 p.p.), Belgium (+6.8 p.p.), Italy (+4.5 p.p.) and Germany (+2.9 p.p.) significantly strengthened its position in terms of the total exports, while the Netherlands, France and the UK saw its share reduced by -5.9%, -8.4% and -15.5% from 2012 to 2021, respectively.

In value terms, the Netherlands ($X) remains the largest ethylene supplier in Europe, comprising 34% of total exports. The second position in the ranking was held by Norway ($X), with a 16% share of total exports. It was followed by Belgium, with a 9.7% share.

In the Netherlands, ethylene exports contracted by an average annual rate of -4.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Norway (+9.8% per year) and Belgium (+12.2% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2021, picking up by 41% against the previous year. Over the period under review, the export price, however, saw a pronounced descent. 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.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in the UK ($X per ton) and France ($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 the UK (-0.2%), while the other leaders experienced a decline in the export price figures.

Ethylene Imports

Imports in Europe

After two years of growth, supplies from abroad of ethylene decreased by -5.1% to X tons in 2021. In general, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 14% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, ethylene imports soared to $X in 2021. Overall, imports recorded a perceptible downturn. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

Belgium was the largest importer of ethylene in Europe, with the volume of imports amounting to X tons, which was near 56% of total imports in 2021. Germany (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by the Netherlands (8.3%), Sweden (6%) and Spain (4.6%). The following importers - France (X tons) and Italy (X tons) - together made up 6.6% 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 Europe, 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. Belgium (+5.2 p.p.) and Italy (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) constitutes the largest market for imported ethylene in Europe, comprising 57% of total imports. The second position in the ranking was held by Germany ($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

In 2021, the import price in Europe amounted to $X per ton, jumping by 37% against the previous year. In general, the import price, however, saw a noticeable reduction. The level of import peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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