United Kingdom: Aromatic Alcohols Market 2024

Aromatic Alcohols Market Size in the UK

The UK aromatic alcohols market dropped modestly to $X in 2021, remaining constant against the previous year. Over the period under review, the total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +59.4% against 2016 indices. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Aromatic Alcohols Production in the UK

In value terms, aromatic alcohols production totaled $X in 2021 estimated in export price. Over the period under review, production, however, saw a abrupt descent. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Aromatic Alcohols Exports

Exports from the UK

In 2021, overseas shipments of aromatic alcohols and their derivatives decreased by -35.1% to X tons, falling for the second year in a row after five years of growth. Over the period under review, exports showed a noticeable setback. The most prominent rate of growth was recorded in 2017 when exports increased by 75%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, aromatic alcohols exports dropped dramatically to $X in 2021. Overall, exports continue to indicate a perceptible shrinkage. The growth pace was the most rapid in 2015 with an increase of 78% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X tons), France (X tons) and Spain (X tons) were the main destinations of aromatic alcohols exports from the UK, with a combined 42% share of total exports. Japan, Germany, Ireland, Belgium, the United States, the Netherlands, the Czech Republic, Norway, Hungary and Portugal lagged somewhat behind, together comprising a further 47%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Portugal (with a CAGR of +198.4%), while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for aromatic alcohols and their derivatives exports from the UK, comprising 34% of total exports. The second position in the ranking was taken by Germany ($X), with an 8.8% share of total exports. It was followed by France, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Japan stood at +44.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-16.0% per year) and France (-7.8% per year).

Export Prices by Country

The average aromatic alcohols export price stood at $X per ton in 2021, rising by 9.3% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the average export price increased by 54% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Spain ($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 Ireland (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Aromatic Alcohols Imports

Imports into the UK

In 2021, after two years of decline, there was significant growth in supplies from abroad of aromatic alcohols and their derivatives, when their volume increased by 10% to X tons. The total import volume increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 27% against the previous year. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, aromatic alcohols imports dropped to $X in 2021. In general, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by 74% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Germany (X tons), the Netherlands (X tons) and India (X tons) were the main suppliers of aromatic alcohols imports to the UK, with a combined 73% share of total imports.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +30.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of aromatic alcohols and their derivatives to the UK, comprising 57% of total imports. The second position in the ranking was held by Germany ($X), with an 18% share of total imports. It was followed by India, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.9% per year) and India (+23.1% per year).

Import Prices by Country

In 2021, the average aromatic alcohols import price amounted to $X per ton, which is down by -17.9% against the previous year. Overall, the import price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 37% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was China ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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