Portugal: Butanone Market 2024

Butanone Market Size in Portugal

In 2022, after two years of growth, there was significant decline in the Portuguese butanone market, when its value decreased by -22.8% to $X. In general, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +23.5% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2021, and then contracted rapidly in the following year.

Butanone Exports

Exports from Portugal

In 2022, exports of butanone (methyl ethyl ketone) from Portugal soared to X tons, jumping by 47% against the previous year. In general, exports enjoyed resilient growth. The growth pace was the most rapid in 2017 when exports increased by 336%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, butanone exports soared to $X in 2022. Over the period under review, exports posted a prominent increase. The pace of growth was the most pronounced in 2018 when exports increased by 421% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for butanone exports from Portugal, accounting for a 73% share of total exports. Moreover, butanone exports to Spain exceeded the volume sent to the second major destination, Morocco (X tons), fourfold. Cabo Verde (X tons) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2022, the average annual growth rate of volume to Spain totaled +61.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (0.0% per year) and Cabo Verde (+7.2% per year).

In value terms, Spain ($X) remains the key foreign market for butanone (methyl ethyl ketone) exports from Portugal, comprising 70% of total exports. The second position in the ranking was held by Morocco ($X), with a 13% share of total exports. It was followed by Angola, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Spain totaled +60.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (0.0% per year) and Angola (-5.1% per year).

Export Prices by Country

The average butanone export price stood at $X per ton in 2022, picking up by 53% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone export price increased by +121.1% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Morocco ($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 Angola (+7.9%), while the prices for the other major destinations experienced mixed trend patterns.

Butanone Imports

Imports into Portugal

In 2022, after two years of growth, there was significant decline in supplies from abroad of butanone (methyl ethyl ketone), when their volume decreased by -23.9% to X tons. Overall, total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% 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 +8.3% against 2019 indices. The pace of growth was the most pronounced in 2014 when imports increased by 48%. Over the period under review, imports attained the maximum at X tons in 2021, and then dropped notably in the following year.

In value terms, butanone imports contracted sharply to $X in 2022. Over the period under review, imports, however, continue to indicate a pronounced expansion. The pace of growth was the most pronounced in 2017 with an increase of 78% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then dropped dramatically in the following year.

Imports by Country

Spain (X tons), the Netherlands (X tons) and China (X tons) were the main suppliers of butanone imports to Portugal, with a combined 71% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the Netherlands (with a CAGR of +38.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest butanone suppliers to Portugal were the Netherlands ($X), Spain ($X) and Belgium ($X), with a combined 70% share of total imports.

The Netherlands, with a CAGR of +42.1%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average butanone import price stood at $X per ton in 2022, rising by 5.9% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 62%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($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 (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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