EU: Isocyanates Market 2024

Isocyanates Market Size in the EU

In 2023, the EU isocyanates market increased by X% to $X, rising for the fourth consecutive year after two years of decline. Over the period under review, consumption, however, continues to indicate a mild shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Isocyanates Production in the EU

In value terms, isocyanates production dropped slightly to $X in 2023 estimated in export price. In general, production, however, showed a mild curtailment. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. The level of production peaked at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

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Isocyanates Exports

Exports in the EU

In 2023, isocyanates exports in the European Union shrank to X tons, declining by X% on 2022 figures. Over the period under review, exports continue to indicate a slight decrease. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, isocyanates exports fell notably to $X in 2023. Overall, exports recorded a slight contraction. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The shipments of the three major exporters of isocyanates, namely Hungary, Belgium and Germany, represented more than two-thirds of total export. It was distantly followed by the Netherlands (X tons), mixing up a X% share of total exports. Spain (X tons) followed a long way behind the leaders.

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

In value terms, Hungary ($X), Germany ($X) and Belgium ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports. The Netherlands and Spain lagged somewhat behind, together comprising a further X%.

Spain, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the European Union stood at $X per ton in 2023, dropping by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2022, and then declined in the following year.

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

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

Isocyanates Imports

Imports in the EU

In 2023, the amount of isocyanates imported in the European Union declined modestly to X tons, flattening at the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports failed to regain momentum.

In value terms, isocyanates imports dropped modestly to $X in 2023. Total imports indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2018; however, from 2019 to 2023, imports remained at a lower figure.

Imports by Country

Belgium (X tons) and Italy (X tons) represented roughly X% of total imports in 2023. Poland (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Germany (X%), Spain (X%), France (X%) and Portugal (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Italy ($X) and Germany ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Poland, Spain, France and Portugal lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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 2023, the import price in the European Union amounted to $X per ton, shrinking by X% against the previous year. Import price indicated a modest expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, isocyanates import price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 an increase of 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.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Germany ($X per ton) and Spain ($X per ton), while Italy ($X per ton) and Poland ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform