Lithuania: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Lithuania

The Lithuanian acrylic acid esters market dropped to $X in 2022, almost unchanged from the previous year. Over the period under review, consumption, however, recorded strong growth. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Acrylic Acid Esters Production in Lithuania

In value terms, acrylic acid esters production shrank slightly to $X in 2022 estimated in export price. In general, production, however, saw a resilient increase. The growth pace was the most rapid in 2019 with an increase of 89%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Acrylic Acid Esters Exports

Exports from Lithuania

In 2022, approx. X tons of esters of acrylic acid were exported from Lithuania; shrinking by -4.7% against the year before. In general, exports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2015 with an increase of 115,147% against the previous year. The exports peaked at X tons in 2021, and then declined in the following year.

In value terms, acrylic acid esters exports rose remarkably to $X in 2022. Over the period under review, exports, however, continue to indicate resilient growth. The pace of growth appeared the most rapid in 2015 when exports increased by 43,330% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Russia (X tons) was the main destination for acrylic acid esters exports from Lithuania, accounting for a 56% share of total exports. Moreover, acrylic acid esters exports to Russia exceeded the volume sent to the second major destination, Germany (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Russia amounted to +2.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-50.0% per year) and the Netherlands (0.0% per year).

In value terms, Russia ($X) emerged as the key foreign market for esters of acrylic acid exports from Lithuania, comprising 75% of total exports. The second position in the ranking was held by Germany ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Russia stood at +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-65.8% per year) and the Netherlands (0.0% per year).

Export Prices by Country

The average acrylic acid esters export price stood at $X per ton in 2022, growing by 15% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the average export price increased by 130%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to the Netherlands ($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 Russia (+2.1%).

Acrylic Acid Esters Imports

Imports into Lithuania

In 2022, acrylic acid esters imports into Lithuania skyrocketed to X tons, growing by 90% on 2021. Over the period under review, imports saw a significant increase. The pace of growth appeared the most rapid in 2015 when imports increased by 15,911%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, acrylic acid esters imports surged to $X in 2022. In general, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 2,090% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Russia (X tons) constituted the largest acrylic acid esters supplier to Lithuania, accounting for a 83% share of total imports. Moreover, acrylic acid esters imports from Russia exceeded the figures recorded by the second-largest supplier, Latvia (X tons), ninefold. The third position in this ranking was held by Poland (X tons), with a 5.1% share.

From 2012 to 2022, the average annual growth rate of volume from Russia totaled +29,204.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+274.9% per year) and Poland (+177.3% per year).

In value terms, Russia ($X) constituted the largest supplier of esters of acrylic acid to Lithuania, comprising 71% of total imports. The second position in the ranking was taken by Latvia ($X), with a 14% share of total imports. It was followed by Poland, with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Russia amounted to +17,978.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+230.1% per year) and Poland (+146.6% per year).

Import Prices by Country

The average acrylic acid esters import price stood at $X per ton in 2022, surging by 19% against the previous year. Overall, the import price, however, faced a abrupt decrease. The pace of growth appeared the most rapid in 2017 when the average import price increased by 195%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, 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 Belgium ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+92.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform