Lithuania: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in Lithuania

In 2022, the Lithuanian ethylene glycol market increased by 5% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Ethylene Glycol Exports

Exports from Lithuania

In 2022, overseas shipments of ethylene glycol (ethanediol) increased by 3% to X tons, rising for the third consecutive year after two years of decline. In general, exports posted a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 152%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, ethylene glycol exports fell to $X in 2022. Over the period under review, exports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 259%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Latvia (X tons), Kyrgyzstan (X tons) and Estonia (X tons) were the main destinations of ethylene glycol exports from Lithuania, with a combined 68% share of total exports. Belarus, Russia, the Czech Republic and Poland lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +68.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ethylene glycol exported from Lithuania were Latvia ($X), Estonia ($X) and Belarus ($X), with a combined 70% share of total exports. Kyrgyzstan, Russia, the Czech Republic and Poland lagged somewhat behind, together comprising a further 27%.

Russia, with a CAGR of +65.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average ethylene glycol export price amounted to $X per ton, reducing by -10.3% against the previous year. Overall, the export price recorded a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when the average export price increased by 61%. The export price peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Kyrgyzstan ($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 Estonia (-0.9%), while the prices for the other major destinations experienced a decline.

Ethylene Glycol Imports

Imports into Lithuania

Ethylene glycol imports into Lithuania rose markedly to X tons in 2022, surging by 5.9% on 2021. In general, total imports indicated a measured increase from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +12.5% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of 21% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

In value terms, ethylene glycol imports expanded to $X in 2022. Over the period under review, total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.7% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 68%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Belgium (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of ethylene glycol imports to Lithuania, together comprising 84% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +301.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest ethylene glycol suppliers to Lithuania were Belgium ($X), the Netherlands ($X) and Germany ($X), with a combined 85% share of total imports.

The Netherlands, with a CAGR of +283.7%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average ethylene glycol import price amounted to $X per ton, falling by -1.5% against the previous year. Over the period under review, the import price showed a pronounced decrease. The most prominent rate of growth was recorded in 2021 an increase of 58% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Turkey ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for the United States ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (-0.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform