Ukraine: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Ukraine

In 2021, the Ukrainian ethyl acetate market increased by 8.6% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a noticeable shrinkage. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Ethyl Acetate Production in Ukraine

In value terms, ethyl acetate production expanded rapidly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2017 with an increase of 54%. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Ethyl Acetate Exports

Exports from Ukraine

In 2021, overseas shipments of ethyl acetate were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, exports, however, continue to indicate a mild curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 27% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, ethyl acetate exports surged to $X in 2021. In general, exports, however, recorded a mild curtailment. The growth pace was the most rapid in 2017 when exports increased by 56%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Poland (X tons) was the main destination for ethyl acetate exports from Ukraine, with a 33% share of total exports. Moreover, ethyl acetate exports to Poland exceeded the volume sent to the second major destination, Hungary (X tons), threefold. Slovakia (X tons) ranked third in terms of total exports with a 9.3% share.

From 2012 to 2021, the average annual growth rate of volume to Poland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (-0.5% per year) and Slovakia (+0.1% per year).

In value terms, Poland ($X) remains the key foreign market for ethyl acetate exports from Ukraine, comprising 34% of total exports. The second position in the ranking was taken by Hungary ($X), with an 11% share of total exports. It was followed by Slovakia, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value to Poland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (-1.8% per year) and Slovakia (-0.5% per year).

Export Prices by Country

The average ethyl acetate export price stood at $X per ton in 2021, surging by 21% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 23% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Belarus ($X per ton), while the average price for exports to Estonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (+6.6%), while the prices for the other major destinations experienced more modest paces of growth.

Ethyl Acetate Imports

Imports into Ukraine

In 2021, ethyl acetate imports into Ukraine skyrocketed to X tons, jumping by 102% compared with the previous year. In general, imports showed strong growth. The growth pace was the most rapid in 2014 with an increase of 1,243% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, ethyl acetate imports soared to $X in 2021. Overall, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,190%. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

Turkey (X tons), Russia (X tons) and Saudi Arabia (X tons) were the main suppliers of ethyl acetate imports to Ukraine, together comprising 77% of total imports.

From 2012 to 2021, the biggest increases were recorded for Turkey (with a CAGR of +77.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constituted the largest supplier of ethyl acetate to Ukraine, comprising 40% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 19% share of total imports. It was followed by Russia, with a 19% share.

From 2012 to 2021, the average annual growth rate of value from Turkey stood at +85.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+15.7% per year) and Russia (+0.1% per year).

Import Prices by Country

The average ethyl acetate import price stood at $X per ton in 2021, rising by 70% against the previous year. Overall, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (+36.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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