Lithuania: Polyphenols And Phenol-Alcohols Market 2024

Polyphenols And Phenol-Alcohols Market Size in Lithuania

The Lithuanian polyphenols and phenol-alcohols market reduced to $X in 2022, which is down by -13.3% against the previous year. In general, consumption recorded a pronounced decrease. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Polyphenols And Phenol-Alcohols Production in Lithuania

In value terms, polyphenols and phenol-alcohols production surged to $X in 2022 estimated in export price. In general, production, however, posted a prominent expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Polyphenols And Phenol-Alcohols Exports

Exports from Lithuania

After two years of growth, shipments abroad of polyphenols and phenol-alcohols decreased by -47.1% to X tons in 2022. In general, exports, however, showed significant growth. The growth pace was the most rapid in 2013 with an increase of 4,862%. The exports peaked at X tons in 2021, and then dropped notably in the following year.

In value terms, polyphenols and phenol-alcohols exports reduced slightly to $X in 2022. Over the period under review, exports, however, posted a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of 1,039% against the previous year. The exports peaked at $X in 2021, and then dropped modestly in the following year.

Exports by Country

Latvia (X tons) was the main destination for polyphenols and phenol-alcohols exports from Lithuania, with a 76% share of total exports. Moreover, polyphenols and phenol-alcohols exports to Latvia exceeded the volume sent to the second major destination, Russia (X tons), fourfold. The third position in this ranking was held by Poland (X tons), with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume to Latvia totaled +87.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+4.2% per year) and Poland (+41.0% per year).

In value terms, the largest markets for polyphenols and phenol-alcohols exported from Lithuania were Latvia ($X), Russia ($X) and Poland ($X), together accounting for 27% of total exports.

Among the main countries of destination, Latvia, with a CAGR of +71.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polyphenols and phenol-alcohols export price stood at $X per ton in 2022, surging by 80% against the previous year. In general, the export price, however, showed a noticeable descent. The pace of growth appeared the most rapid in 2021 an increase of 122% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 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 Poland ($X per ton), while the average price for exports to Latvia ($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 Hungary (+195.0%), while the prices for the other major destinations experienced mixed trend patterns.

Polyphenols And Phenol-Alcohols Imports

Imports into Lithuania

In 2022, supplies from abroad of polyphenols and phenol-alcohols increased by 8.4% to X tons, rising for the third consecutive year after two years of decline. Over the period under review, imports saw a significant increase. The growth pace was the most rapid in 2015 with an increase of 18,075%. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, polyphenols and phenol-alcohols imports shrank significantly to $X in 2022. Overall, imports posted significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 4,359%. Over the period under review, imports hit record highs at $X in 2021, and then reduced remarkably in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest polyphenols and phenol-alcohols supplier to Lithuania, accounting for a 69% share of total imports. Moreover, polyphenols and phenol-alcohols imports from Belgium exceeded the figures recorded by the second-largest supplier, France (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium stood at +151.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+9.6% per year) and Germany (+37.8% per year).

In value terms, Belgium ($X), France ($X) and Germany ($X) constituted the largest polyphenols and phenol-alcohols suppliers to Lithuania, together comprising 74% of total imports.

Among the main suppliers, Belgium, with a CAGR of +204.9%, recorded the highest rates of growth with regard to the value of imports, 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 polyphenols and phenol-alcohols import price amounted to $X per ton, falling by -34% against the previous year. In general, the import price, however, continues to indicate a pronounced increase. The most prominent rate of growth was recorded in 2013 when the average import price increased by 114%. As a result, import price reached the peak level of $X per ton. From 2014 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 the United States ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+21.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform