Greece: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Greece

In 2021, the Greek ethyl acetate market increased by 43% to $X, rising for the fifth year in a row after two years of decline. Overall, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +158.0% against 2016 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ethyl Acetate Exports

Exports from Greece

In 2021, the amount of ethyl acetate exported from Greece soared to X tons, surging by 33% compared with 2020. In general, exports saw a prominent expansion. The most prominent rate of growth was recorded in 2018 when exports increased by 565% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, ethyl acetate exports skyrocketed to $X in 2021. Overall, exports recorded a strong increase. The most prominent rate of growth was recorded in 2018 with an increase of 779%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for ethyl acetate exports from Greece, accounting for a 63% share of total exports. Moreover, ethyl acetate exports to Italy exceeded the volume sent to the second major destination, Turkey (X tons), fourfold. The third position in this ranking was held by Albania (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume to Italy stood at +61.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-69.6% per year) and Albania (+9.6% per year).

In value terms, Italy ($X) remains the key foreign market for ethyl acetate exports from Greece, comprising 69% of total exports. The second position in the ranking was taken by Turkey ($X), with a 9.6% share of total exports. It was followed by Albania, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy amounted to +76.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (-62.5% per year) and Albania (+8.8% per year).

Export Prices by Country

In 2021, the average ethyl acetate export price amounted to $X per ton, picking up by 24% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 54% against the previous year. The export price peaked in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Kosovo ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kosovo (+111.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ethyl Acetate Imports

Imports into Greece

In 2021, the amount of ethyl acetate imported into Greece amounted to X tons, picking up by 2.1% against the previous year. Over the period under review, total imports indicated a notable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +83.1% against 2016 indices. The most prominent rate of growth was recorded in 2019 with an increase of 22% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, ethyl acetate imports skyrocketed to $X in 2021. In general, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) constituted the largest ethyl acetate supplier to Greece, accounting for a 66% share of total imports. Moreover, ethyl acetate imports from Turkey exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. Bulgaria (X tons) ranked third in terms of total imports with a 4.5% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+12.3% per year) and Bulgaria (+25.1% per year).

In value terms, Turkey ($X) constituted the largest supplier of ethyl acetate to Greece, comprising 67% of total imports. The second position in the ranking was held by Belgium ($X), with an 18% share of total imports. It was followed by Bulgaria, with a 5.2% share.

From 2012 to 2021, the average annual growth rate of value from Turkey totaled +4.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+13.4% per year) and Bulgaria (+28.3% per year).

Import Prices by Country

The average ethyl acetate import price stood at $X per ton in 2021, rising by 77% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.0% 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 reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Bulgaria ($X per ton) and Turkey ($X per ton), while the price for India ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bulgaria (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :