Scandinavia: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in Scandinavia

In 2022, the Scandinavia ethylene glycol market increased by 10% to $X, rising for the second year in a row after two years of decline. The total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% 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 +26.0% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Ethylene Glycol Production in Scandinavia

In value terms, ethylene glycol production fell to $X in 2022 estimated in export price. In general, production, however, continues to indicate a notable increase. The pace of growth was the most pronounced in 2015 with an increase of 53%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Ethylene Glycol Exports

Exports in Scandinavia

In 2022, approx. X tons of ethylene glycol (ethanediol) were exported in Scandinavia; waning by -39.3% against the previous year. Over the period under review, exports continue to indicate a deep slump. The pace of growth appeared the most rapid in 2015 when exports increased by 22% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, ethylene glycol exports shrank significantly to $X in 2022. In general, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 with an increase of 46%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Sweden prevails in exports structure, finishing at X tons, which was near 92% of total exports in 2022. It was distantly followed by Norway (X tons), mixing up an 8% share of total exports.

Exports from Sweden decreased at an average annual rate of -6.8% from 2012 to 2022. At the same time, Norway (+1.8%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +1.8% from 2012-2022. From 2012 to 2022, the share of Norway increased by +4.5 percentage points.

In value terms, Sweden ($X) remains the largest ethylene glycol supplier in Scandinavia, comprising 86% of total exports. The second position in the ranking was held by Norway ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden amounted to -8.7%.

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, increasing by 8.9% against the previous year. Over the period under review, the export price, however, recorded a slight contraction. The growth pace was the most rapid in 2021 when the export price increased by 28%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Norway ($X per ton), while Sweden totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (-1.0%).

Ethylene Glycol Imports

Imports in Scandinavia

In 2022, imports of ethylene glycol (ethanediol) in Scandinavia surged to X tons, picking up by 41% on the year before. Total imports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +4.0% 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 +68.5% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ethylene glycol imports soared to $X in 2022. Overall, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 37%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

Norway dominates imports structure, reaching X tons, which was near 86% of total imports in 2022. Finland (X tons) took the second position in the ranking, followed by Sweden (X tons). All these countries together held near 14% share of total imports.

Norway was also the fastest-growing in terms of the ethylene glycol (ethanediol) imports, with a CAGR of +5.9% from 2012 to 2022. Finland (-2.7%) and Sweden (-3.6%) illustrated a downward trend over the same period. Norway (+14 p.p.) significantly strengthened its position in terms of the total imports, while Sweden and Finland saw its share reduced by -7% and -7.3% from 2012 to 2022, respectively.

In value terms, Norway ($X) constitutes the largest market for imported ethylene glycol (ethanediol) in Scandinavia, comprising 84% of total imports. The second position in the ranking was held by Finland ($X), with an 8.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in Norway stood at +2.1%. The remaining importing countries recorded the following average annual rates of imports growth: Finland (-4.0% per year) and Sweden (-3.4% per year).

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, declining by -8.8% against the previous year. Overall, the import price recorded a noticeable descent. The most prominent rate of growth was recorded in 2021 when the import price increased by 38%. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform