Eastern Europe: Isocyanates Market 2024

Isocyanates Market Size in Eastern Europe

The East European isocyanates market amounted to $X in 2023, standing approx. at the previous year. In general, consumption, however, continues to indicate a pronounced contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption stood at a somewhat lower figure.

Isocyanates Production in Eastern Europe

In value terms, isocyanates production shrank slightly to $X in 2023 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

Isocyanates Exports

Exports in Eastern Europe

In 2023, the amount of isocyanates exported in Eastern Europe rose notably to X tons, increasing by X% compared with the previous year's figure. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

In value terms, isocyanates exports fell slightly to $X in 2023. Total exports indicated slight growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Hungary prevails in exports structure, reaching X tons, which was approx. X% of total exports in 2023. Poland (X tons) took a minor share of total exports.

Hungary was also the fastest-growing in terms of the isocyanates exports, with a CAGR of X% from 2012 to 2023. Poland (X%) illustrated a downward trend over the same period. While the share of Hungary (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Poland (X p.p.) displayed negative dynamics.

In value terms, Hungary ($X) remains the largest isocyanates supplier in Eastern Europe, comprising X% of total exports. The second position in the ranking was taken by Poland ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Hungary stood at X%.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2023, waning by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Poland ($X per ton), while Hungary totaled $X per ton.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Poland (X%).

Isocyanates Imports

Imports in Eastern Europe

In 2023, the amount of isocyanates imported in Eastern Europe totaled X tons, approximately equating 2022. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, isocyanates imports contracted to $X in 2023. Total imports indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

Poland (X tons) and Russia (X tons) represented roughly X% of total imports in 2023. Romania (X tons) held the next position in the ranking, followed by Hungary (X tons). All these countries together took near X% share of total imports. The following importers - the Czech Republic (X tons), Lithuania (X tons) and Ukraine (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Hungary (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and Romania ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Hungary, the Czech Republic, Lithuania and Ukraine lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Hungary, with a CAGR of X%, saw 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

In 2023, the import price in Eastern Europe amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2018; however, from 2019 to 2023, import prices remained at a lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lithuania (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform