United Kingdom: Ethylene Market 2024

Ethylene Market Size in the UK

In 2021, the UK ethylene market increased by 22% to $X for the first time since 2017, thus ending a three-year declining trend. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Ethylene Production in the UK

In value terms, ethylene production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production, however, showed a noticeable setback. The growth pace was the most rapid in 2017 when the production volume increased by 19%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Ethylene Exports

Exports from the UK

In 2021, overseas shipments of ethylene decreased by -64.8% to X tons, falling for the third year in a row after four years of growth. Over the period under review, exports showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2015 when exports increased by 23%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, ethylene exports dropped remarkably to $X in 2021. In general, exports faced a abrupt slump. The pace of growth was the most pronounced in 2018 when exports increased by 38%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X tons) was the main destination for ethylene exports from the UK, with a 70% share of total exports. Moreover, ethylene exports to Belgium exceeded the volume sent to the second major destination, Germany (X tons), eightfold. France (X tons) ranked third in terms of total exports with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Belgium totaled -7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-14.2% per year) and France (-5.2% per year).

In value terms, Belgium ($X) emerged as the key foreign market for ethylene exports from the UK, comprising 71% of total exports. The second position in the ranking was taken by France ($X), with an 8.3% share of total exports. It was followed by Germany, with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Belgium stood at -6.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-6.1% per year) and Germany (-16.6% per year).

Export Prices by Country

In 2021, the average ethylene export price amounted to $X per ton, picking up by 45% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2013; however, from 2014 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 Spain ($X per ton), while the average price for exports to Sweden ($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 Spain (+2.9%), while the prices for the other major destinations experienced mixed trend patterns.

Ethylene Imports

Imports into the UK

Ethylene imports into the UK plummeted to X tons in 2021, declining by -69.2% on the year before. In general, imports continue to indicate a sharp downturn. The most prominent rate of growth was recorded in 2017 with an increase of 1,533%. Over the period under review, imports attained the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, ethylene imports shrank dramatically to $X in 2021. Over the period under review, imports faced a sharp decline. The pace of growth appeared the most rapid in 2017 with an increase of 1,009% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest ethylene supplier to the UK, with a 87% share of total imports. Moreover, ethylene imports from the Netherlands exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands stood at +196.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (-4.5% per year) and Belgium (+24.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of ethylene to the UK, comprising 52% of total imports. The second position in the ranking was taken by Belgium ($X), with a 24% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the Netherlands totaled +183.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+27.3% per year) and the Czech Republic (-5.8% per year).

Import Prices by Country

The average ethylene import price stood at $X per ton in 2021, with a decrease of -63.2% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the average import price increased by 384%. As a result, import price reached the peak level of $X per ton. From 2016 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+2.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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