Northern America: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in Northern America

In 2022, the North American ethylene glycol market decreased by -11.8% to $X, falling for the fourth year in a row after two years of growth. Overall, consumption showed a slight decrease. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Ethylene Glycol Production in Northern America

In value terms, ethylene glycol production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.9% 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 2017 when the production volume increased by 22% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Ethylene Glycol Exports

Exports in Northern America

In 2022, approx. X tons of ethylene glycol (ethanediol) were exported in Northern America; picking up by 18% on the year before. Overall, exports enjoyed a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 36%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethylene glycol exports skyrocketed to $X in 2022. Total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +78.0% against 2019 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States represented the major exporter of ethylene glycol (ethanediol) in Northern America, with the volume of exports reaching X tons, which was approx. 74% of total exports in 2022. It was distantly followed by Canada (X tons), committing a 26% share of total exports.

The United States was also the fastest-growing in terms of the ethylene glycol (ethanediol) exports, with a CAGR of +17.5% from 2012 to 2022. Canada (-3.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the United States increased by +45 percentage points.

In value terms, the largest ethylene glycol supplying countries in Northern America were the United States ($X) and Canada ($X).

The United States, with a CAGR of +11.6%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, picking up by 17% against the previous year. Over the period under review, the export price, however, saw a pronounced decline. The pace of growth was the most pronounced in 2021 when the export price increased by 47% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+0.8%).

Ethylene Glycol Imports

Imports in Northern America

In 2022, the amount of ethylene glycol (ethanediol) imported in Northern America fell slightly to X tons, dropping by -4.1% on 2021. In general, imports showed a deep downturn. The growth pace was the most rapid in 2018 with an increase of 11% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, ethylene glycol imports reduced to $X in 2022. Over the period under review, imports showed a deep downturn. The pace of growth appeared the most rapid in 2018 with an increase of 22% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United States dominates imports structure, amounting to X tons, which was near 96% of total imports in 2022. Canada (X tons) followed a long way behind the leaders.

Imports into the United States decreased at an average annual rate of -9.7% from 2012 to 2022. At the same time, Canada (+2.0%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +2.0% from 2012-2022. While the share of Canada (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (-2.5 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported ethylene glycol (ethanediol) in Northern America, comprising 95% of total imports. The second position in the ranking was taken by Canada ($X), with a 5.3% share of total imports.

In the United States, ethylene glycol imports plunged by an average annual rate of -14.7% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, with a decrease of -6.9% against the previous year. Over the period under review, the import price saw a abrupt downturn. The pace of growth was the most pronounced in 2021 an increase of 28%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while the United States amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (-5.3%).

Source: IndexBox Platform

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