EU: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in the EU

The EU ethylene glycol market surged to $X in 2022, picking up by 382% against the previous year. Over the period under review, consumption, however, showed a pronounced setback. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Ethylene Glycol Production in the EU

In value terms, ethylene glycol production fell slightly to $X in 2022 estimated in export price. In general, production, however, recorded a perceptible setback. The pace of growth was the most pronounced in 2017 when the production volume increased by 22% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Ethylene Glycol Exports

Exports in the EU

After two years of growth, overseas shipments of ethylene glycol (ethanediol) decreased by -41.2% to X tons in 2022. Over the period under review, exports continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2020 when exports increased by 29%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, ethylene glycol exports reduced remarkably to $X in 2022. In general, exports saw a abrupt curtailment. The pace of growth was the most pronounced in 2021 when exports increased by 81%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Belgium represented the major exporter of ethylene glycol (ethanediol) in the European Union, with the volume of exports resulting at X tons, which was approx. 59% of total exports in 2022. It was distantly followed by Germany (X tons) and the Netherlands (X tons), together comprising a 32% share of total exports. Poland (X tons) and Spain (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to ethylene glycol exports from Belgium stood at -8.3%. Poland experienced a relatively flat trend pattern. Germany (-2.1%), the Netherlands (-9.0%) and Spain (-13.7%) illustrated a downward trend over the same period. While the share of Germany (+7.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Spain (-1.6 p.p.), the Netherlands (-2.9 p.p.) and Belgium (-6.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Belgium ($X) remains the largest ethylene glycol supplier in the European Union, comprising 56% of total exports. The second position in the ranking was held by Germany ($X), with a 19% share of total exports. It was followed by the Netherlands, with a 15% share.

In Belgium, ethylene glycol exports declined by an average annual rate of -10.1% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (-2.7% per year) and the Netherlands (-10.6% per year).

Export Prices by Country

In 2022, the export price in the European Union amounted to $X per ton, rising by 5.4% against the previous year. In general, the export price, however, saw a mild decline. The pace of growth was the most pronounced in 2021 when the export price increased by 51% against the previous year. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Germany ($X per ton) and Spain ($X per ton), while Poland ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-0.7%), while the other leaders experienced a decline in the export price figures.

Ethylene Glycol Imports

Imports in the EU

In 2022, overseas purchases of ethylene glycol (ethanediol) decreased by -17.7% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, imports continue to indicate a mild downturn. The pace of growth was the most pronounced in 2016 when imports increased by 13%. Over the period under review, imports hit record highs at X tons in 2021, and then fell sharply in the following year.

In value terms, ethylene glycol imports shrank significantly to $X in 2022. In general, imports recorded a perceptible reduction. The growth pace was the most rapid in 2021 when imports increased by 58% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The purchases of the four major importers of ethylene glycol (ethanediol), namely Germany, Spain, Lithuania and Belgium, represented more than two-thirds of total import. It was distantly followed by Italy (X tons) and France (X tons), together comprising a 12% share of total imports. Poland (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +8.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and Lithuania ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 55% of total imports. Belgium, Italy, France and Poland lagged somewhat behind, together accounting for a further 32%.

Poland, with a CAGR of +5.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in the European Union amounted to $X per ton, approximately reflecting the previous year. Over the period under review, the import price, however, continues to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2021 an increase of 52%. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Poland ($X per ton) and Germany ($X per ton), while Italy ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (-2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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