Lithuania: Butanone Market 2024

Butanone Market Size in Lithuania

In 2022, the Lithuanian butanone market decreased by -3.7% to $X, falling for the second year in a row after four years of growth. In general, consumption, however, continues to indicate significant growth. Butanone consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Butanone Production in Lithuania

In value terms, butanone production expanded remarkably to $X in 2022 estimated in export price. Overall, production showed a mild slump. The most prominent rate of growth was recorded in 2016 when the production volume increased by 41% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Butanone Exports

Exports from Lithuania

In 2022, after two years of growth, there was significant decline in shipments abroad of butanone (methyl ethyl ketone), when their volume decreased by -32.9% to X tons. In general, exports, however, recorded a significant increase. The growth pace was the most rapid in 2016 with an increase of 841% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted significantly in the following year.

In value terms, butanone exports dropped to $X in 2022. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 529% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons) was the main destination for butanone exports from Lithuania, with a 57% share of total exports. Moreover, butanone exports to the Netherlands exceeded the volume sent to the second major destination, Latvia (X tons), threefold. The third position in this ranking was held by Finland (X tons), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Netherlands totaled -52.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+129.9% per year) and Finland (0.0% per year).

In value terms, the Netherlands ($X) remains the key foreign market for butanone (methyl ethyl ketone) exports from Lithuania, comprising 50% of total exports. The second position in the ranking was held by Finland ($X), with a 20% share of total exports. It was followed by Latvia, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Netherlands totaled -42.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Finland (0.0% per year) and Latvia (+92.1% per year).

Export Prices by Country

The average butanone export price stood at $X per ton in 2022, rising by 33% against the previous year. Over the period under review, the export price, however, showed a abrupt downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 192% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to the Netherlands ($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 the Netherlands (+22.3%), while the prices for the other major destinations experienced more modest paces of growth.

Butanone Imports

Imports into Lithuania

In 2022, after three years of growth, there was significant decline in overseas purchases of butanone (methyl ethyl ketone), when their volume decreased by -22.2% to X tons. In general, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2017 with an increase of 258%. Imports peaked at X tons in 2021, and then reduced notably in the following year.

In value terms, butanone imports dropped slightly to $X in 2022. Over the period under review, imports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 140%. Imports peaked at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of butanone to Lithuania, with a 66% share of total imports. Moreover, butanone imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by the Netherlands (X tons), with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium totaled +40.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+18.2% per year) and the Netherlands (+204.1% per year).

In value terms, Belgium ($X) constituted the largest supplier of butanone (methyl ethyl ketone) to Lithuania, comprising 58% of total imports. The second position in the ranking was taken by Germany ($X), with a 25% share of total imports. It was followed by Latvia, with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium totaled +31.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+21.9% per year) and Latvia (+15.1% per year).

Import Prices by Country

The average butanone import price stood at $X per ton in 2022, increasing by 25% against the previous year. Over the period under review, the import price, however, showed a mild descent. The pace of growth appeared the most rapid in 2016 when the average import price increased by 86% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Latvia ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform