Northern America: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Northern America

After two years of growth, the North American octyl alcohol market decreased by -3.8% to $X in 2022. The market value increased at an average annual rate of +3.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then reduced in the following year.

Octyl Alcohol Production in Northern America

In value terms, octyl alcohol production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 18% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Octyl Alcohol Exports

Exports in Northern America

In 2022, overseas shipments of octanol (octyl alcohol) and isomers thereof increased by 23% to X tons for the first time since 2019, thus ending a two-year declining trend. Total exports indicated a notable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when exports increased by 46%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, octyl alcohol exports soared to $X in 2022. Over the period under review, exports saw a tangible expansion. The growth pace was the most rapid in 2021 with an increase of 50% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

The shipments of the one major exporters of octanol (octyl alcohol) and isomers thereof, namely the United States, represented more than two-thirds of total export.

The United States was also the fastest-growing in terms of the octanol (octyl alcohol) and isomers thereof exports, with a CAGR of +2.9% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) also remains the largest octyl alcohol supplier in Northern America.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +3.4%.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2022, rising by 7.5% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 55%. The level of export peaked in 2022 and is likely to continue growth in years to come.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +0.4% per year.

Octyl Alcohol Imports

Imports in Northern America

In 2022, imports of octanol (octyl alcohol) and isomers thereof in Northern America shrank to X tons, with a decrease of -12.9% on the year before. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 +28.5% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 55% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted in the following year.

In value terms, octyl alcohol imports expanded remarkably to $X in 2022. Over the period under review, imports, however, showed a strong increase. The pace of growth appeared the most rapid in 2021 with an increase of 123% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) was the largest importer of octanol (octyl alcohol) and isomers thereof, constituting 77% of total imports. It was distantly followed by Canada (X tons), achieving a 23% share of total imports.

The United States was also the fastest-growing in terms of the octanol (octyl alcohol) and isomers thereof imports, with a CAGR of +6.5% from 2012 to 2022. Canada (-2.1%) illustrated a downward trend over the same period. The United States (+18 p.p.) significantly strengthened its position in terms of the total imports, while Canada saw its share reduced by -18% from 2012 to 2022, respectively.

In value terms, the United States ($X) constitutes the largest market for imported octanol (octyl alcohol) and isomers thereof in Northern America, comprising 77% of total imports. The second position in the ranking was held by Canada ($X), with a 23% share of total imports.

In the United States, octyl alcohol imports increased at an average annual rate of +8.8% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, with an increase of 30% against the previous year. Import price indicated a slight expansion from 2012 to 2022: its price increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, octyl alcohol import price increased by +97.4% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 51%. Over the period under review, import prices reached the peak figure in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.1%).

Source: IndexBox Platform

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