Lithuania: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Lithuania

The Lithuanian octyl alcohol market reduced to $X in 2022, waning by -9.1% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Octyl Alcohol Production in Lithuania

In value terms, octyl alcohol production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when the production volume increased by 24%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Octyl Alcohol Exports

Exports from Lithuania

In 2022, the amount of octanol (octyl alcohol) and isomers thereof exported from Lithuania soared to X kg, increasing by 188% against the year before. Overall, exports saw a buoyant increase. The pace of growth appeared the most rapid in 2017 when exports increased by 6,950% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, octyl alcohol exports surged to $X in 2022. In general, exports saw resilient growth. The growth pace was the most rapid in 2017 with an increase of 28,052% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Kazakhstan (X kg) was the main destination for octyl alcohol exports from Lithuania, accounting for a 88% share of total exports. Moreover, octyl alcohol exports to Kazakhstan exceeded the volume sent to the second major destination, Belarus (X kg), more than tenfold. The third position in this ranking was held by Uzbekistan (X kg), with a 2.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Kazakhstan was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Belarus (-42.8% per year) and Uzbekistan (0.0% per year).

In value terms, the largest markets for octyl alcohol exported from Lithuania were Kazakhstan ($X), Uzbekistan ($X) and Belarus ($X), with a combined 99% share of total exports.

Among the main countries of destination, Uzbekistan, with a CAGR of 0.0%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average octyl alcohol export price amounted to $X per ton, falling by -21.7% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average export price increased by 439%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uzbekistan ($X per ton), while the average price for exports to Kazakhstan ($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 (+8.4%), while the prices for the other major destinations experienced mixed trend patterns.

Octyl Alcohol Imports

Imports into Lithuania

In 2022, the amount of octanol (octyl alcohol) and isomers thereof imported into Lithuania skyrocketed to X kg, with an increase of 5,857% against the previous year's figure. Overall, imports recorded a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, octyl alcohol imports skyrocketed to $X in 2022. In general, imports saw a prominent increase. Imports peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Latvia (X kg) constituted the largest supplier of octyl alcohol to Lithuania, accounting for a 86% share of total imports. Moreover, octyl alcohol imports from Latvia exceeded the figures recorded by the second-largest supplier, Spain (X kg), eightfold.

From 2012 to 2022, the average annual growth rate of volume from Latvia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+100.0% per year) and Germany (-13.5% per year).

In value terms, Latvia ($X) constituted the largest supplier of octanol (octyl alcohol) and isomers thereof to Lithuania, comprising 81% of total imports. The second position in the ranking was held by Spain ($X), with a 12% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Latvia amounted to +7.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+153.9% per year) and Germany (-3.4% per year).

Import Prices by Country

In 2022, the average octyl alcohol import price amounted to $X per ton, falling by -48.3% against the previous year. Overall, the import price continues to indicate a drastic downturn. The most prominent rate of growth was recorded in 2015 when the average import price increased by 390% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Latvia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+26.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform