Eastern Europe: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in Eastern Europe

The East European ethylene glycol market shrank to $X in 2022, remaining constant against the previous year. Overall, consumption, however, continues to indicate a perceptible decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Ethylene Glycol Production in Eastern Europe

In value terms, ethylene glycol production stood at $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 when the production volume increased by 12% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Ethylene Glycol Exports

Exports in Eastern Europe

After two years of decline, overseas shipments of ethylene glycol (ethanediol) increased by 29% to X tons in 2022. Total exports indicated a modest expansion from 2012 to 2022: its volume increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -0.5% against 2018 indices. The most prominent rate of growth was recorded in 2016 when exports increased by 74% against the previous year. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethylene glycol exports declined to $X in 2022. In general, exports, however, showed a noticeable curtailment. The pace of growth was the most pronounced in 2016 with an increase of 48% against the previous year. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Russia was the main exporter of ethylene glycol (ethanediol) in Eastern Europe, with the volume of exports reaching X tons, which was near 75% of total exports in 2022. Poland (X tons) took the second position in the ranking, distantly followed by Lithuania (X tons). All these countries together took approx. 22% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ethylene glycol exports from Russia stood at +1.6%. At the same time, Lithuania (+11.8%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +11.8% from 2012-2022. Poland experienced a relatively flat trend pattern. Lithuania (+3.5 p.p.) significantly strengthened its position in terms of the total exports, while Poland saw its share reduced by -3.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest ethylene glycol supplier in Eastern Europe, comprising 69% of total exports. The second position in the ranking was taken by Poland ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia totaled -4.2%. In the other countries, the average annual rates were as follows: Poland (-2.9% per year) and Lithuania (+8.9% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, declining by -24.3% against the previous year. Overall, the export price showed a noticeable descent. The pace of growth was the most pronounced in 2021 an increase of 55%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (-2.6%), while the other leaders experienced a decline in the export price figures.

Ethylene Glycol Imports

Imports in Eastern Europe

For the third consecutive year, Eastern Europe recorded growth in overseas purchases of ethylene glycol (ethanediol), which increased by 3.2% to X tons in 2022. Total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +4.7% 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 +68.4% against 2015 indices. The pace of growth was the most pronounced in 2016 when imports increased by 16% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, ethylene glycol imports dropped to $X in 2022. In general, imports showed a modest increase. The growth pace was the most rapid in 2021 when imports increased by 73% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Lithuania was the major importer of ethylene glycol (ethanediol) in Eastern Europe, with the volume of imports finishing at X tons, which was approx. 49% of total imports in 2022. Russia (X tons) took a 17% share (based on physical terms) of total imports, which put it in second place, followed by Belarus (12%) and Poland (12%). The following importers - Romania (X tons), Ukraine (X tons) and Slovakia (X tons) - each amounted to a 5.9% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to ethylene glycol imports into Lithuania stood at +4.1%. At the same time, Ukraine (+13.8%), Romania (+11.3%), Russia (+8.6%), Poland (+8.5%) and Slovakia (+5.3%) displayed positive paces of growth. Moreover, Ukraine emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +13.8% from 2012-2022. Belarus experienced a relatively flat trend pattern. From 2012 to 2022, the share of Russia and Poland increased by +5.2 and +3.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Lithuania ($X) constitutes the largest market for imported ethylene glycol (ethanediol) in Eastern Europe, comprising 50% of total imports. The second position in the ranking was held by Russia ($X), with a 15% share of total imports. It was followed by Poland, with a 13% share.

In Lithuania, ethylene glycol imports increased at an average annual rate of +1.0% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Russia (+3.6% per year) and Poland (+5.5% per year).

Import Prices by Country

In 2022, the import price in Eastern Europe amounted to $X per ton, falling by -8.2% against the previous year. Over the period under review, the import price continues to indicate a pronounced decrease. The pace of growth was the most pronounced in 2021 an increase of 57%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Romania ($X per ton) and Slovakia ($X per ton), while Russia ($X per ton) and Belarus ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (-2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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