Kenya: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Kenya

The Kenyan ethyl acetate market soared to $X in 2021, increasing by 52% 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 strong growth from 2012 to 2021: its value increased at an average annual rate of +5.8% 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 +37.5% against 2018 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ethyl Acetate Exports

Exports from Kenya

In 2021, overseas shipments of ethyl acetate increased by 332% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports showed perceptible growth. The growth pace was the most rapid in 2016 when exports increased by 553% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, ethyl acetate exports surged to $X in 2021. Overall, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 343% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Ethiopia (X tons) was the main destination for ethyl acetate exports from Kenya, accounting for a 77% share of total exports. Moreover, ethyl acetate exports to Ethiopia exceeded the volume sent to the second major destination, Uganda (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume to Ethiopia amounted to +27.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-14.8% per year) and Tanzania (+3.1% per year).

In value terms, Ethiopia ($X) emerged as the key foreign market for ethyl acetate exports from Kenya, comprising 78% of total exports. The second position in the ranking was taken by Uganda ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Ethiopia stood at +30.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (-4.4% per year) and Tanzania (+7.7% per year).

Export Prices by Country

The average ethyl acetate export price stood at $X per ton in 2021, declining by -15.3% against the previous year. Overall, the export price, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2013 an increase of 68%. The export price peaked at $X per ton in 2020, and then fell remarkably in the following year.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Ethiopia ($X per ton), while the average price for exports to Uganda ($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 Uganda (+12.2%), while the prices for the other major destinations experienced more modest paces of growth.

Ethyl Acetate Imports

Imports into Kenya

Ethyl acetate imports into Kenya stood at X tons in 2021, increasing by 12% on the year before. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when imports increased by 27%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, ethyl acetate imports surged to $X in 2021. Overall, total imports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +50.6% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, India (X tons) constituted the largest ethyl acetate supplier to Kenya, accounting for a 66% share of total imports. Moreover, ethyl acetate imports from India exceeded the figures recorded by the second-largest supplier, South Africa (X tons), twofold. Saudi Arabia (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+37.3% per year) and Saudi Arabia (+46.5% per year).

In value terms, India ($X) constituted the largest supplier of ethyl acetate to Kenya, comprising 71% of total imports. The second position in the ranking was held by South Africa ($X), with a 23% share of total imports. It was followed by Saudi Arabia, with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +5.0%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+38.9% per year) and Saudi Arabia (+55.2% per year).

Import Prices by Country

The average ethyl acetate import price stood at $X per ton in 2021, jumping by 61% against the previous year. Overall, import price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +3.2% 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.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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