United Kingdom: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in the UK

In 2021, after two years of decline, there was significant growth in the UK ethyl acetate market, when its value increased by 32% to $X. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Ethyl Acetate Production in the UK

In value terms, ethyl acetate production contracted to $X in 2021 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 38%. As a result, production reached the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Ethyl Acetate Exports

Exports from the UK

In 2021, the amount of ethyl acetate exported from the UK plummeted to X tons, waning by -19.7% on the previous year's figure. In general, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 33% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, ethyl acetate exports soared to $X in 2021. Overall, total exports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +47.7% against 2019 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 50%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Belgium (X tons) was the main destination for ethyl acetate exports from the UK, accounting for a 47% share of total exports. Moreover, ethyl acetate exports to Belgium exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. The third position in this ranking was taken by Italy (X tons), with a 9.4% share.

From 2012 to 2021, the average annual growth rate of volume to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+30.3% per year) and Italy (-6.0% per year).

In value terms, Belgium ($X) remains the key foreign market for ethyl acetate exports from the UK, comprising 40% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 14% share of total exports. It was followed by Italy, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+29.8% per year) and Italy (-3.7% per year).

Export Prices by Country

In 2021, the average ethyl acetate export price amounted to $X per ton, increasing by 58% against the previous year. In general, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 France ($X per ton), while the average price for exports to Greece ($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 France (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Ethyl Acetate Imports

Imports into the UK

In 2021, supplies from abroad of ethyl acetate decreased by -18.7% to X tons, falling for the second consecutive year after two years of growth. Overall, imports saw a abrupt contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 125% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, ethyl acetate imports skyrocketed to $X in 2021. Over the period under review, imports showed a noticeable setback. The growth pace was the most rapid in 2015 when imports increased by 77%. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Belgium (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of ethyl acetate imports to the UK, together comprising 82% of total imports. The Czech Republic, Austria and Sweden lagged somewhat behind, together accounting for a further 11%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +469.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and the Netherlands ($X) were the largest ethyl acetate suppliers to the UK, together comprising 81% of total imports. Austria, the Czech Republic and Sweden lagged somewhat behind, together accounting for a further 11%.

In terms of the main suppliers, Austria, with a CAGR of +358.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average ethyl acetate import price stood at $X per ton in 2021, jumping by 69% against the previous year. In general, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained 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 Austria ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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