United Kingdom: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in the UK

The UK octyl alcohol market shrank to $X in 2022, remaining constant against the previous year. The market value increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Octyl alcohol consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Octyl Alcohol Production in the UK

In value terms, octyl alcohol production shrank slightly to $X in 2022 estimated in export price. Over the period under review, the total production indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +8.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -9.0% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 52%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Octyl Alcohol Exports

Exports from the UK

Octyl alcohol exports from the UK plummeted to X tons in 2022, waning by -92.1% against the year before. In general, exports recorded a precipitous setback. The most prominent rate of growth was recorded in 2021 with an increase of 212% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, octyl alcohol exports reduced remarkably to $X in 2022. Over the period under review, exports showed a abrupt downturn. The growth pace was the most rapid in 2021 when exports increased by 251%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X tons) was the main destination for octyl alcohol exports from the UK, with a 44% share of total exports. Moreover, octyl alcohol exports to Saudi Arabia exceeded the volume sent to the second major destination, the Netherlands (X tons), threefold. The third position in this ranking was taken by France (X tons), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Saudi Arabia amounted to +17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (-28.7% per year) and France (-30.9% per year).

In value terms, the United States ($X), Saudi Arabia ($X) and Spain ($X) were the largest markets for octyl alcohol exported from the UK worldwide, together accounting for 67% of total exports.

Among the main countries of destination, the United States, with a CAGR of +50.3%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average octyl alcohol export price amounted to $X per ton, picking up by 380% against the previous year. In general, the export price enjoyed a strong increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+34.1%), while the prices for the other major destinations experienced more modest paces of growth.

Octyl Alcohol Imports

Imports into the UK

In 2022, imports of octanol (octyl alcohol) and isomers thereof into the UK contracted modestly to X tons, reducing by -2% against the year before. Over the period under review, imports faced a precipitous decrease. The pace of growth appeared the most rapid in 2013 when imports increased by 11%. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, octyl alcohol imports dropped to $X in 2022. In general, imports faced a sharp slump. The pace of growth appeared the most rapid in 2013 when imports increased by 14%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Sweden (X tons) constituted the largest supplier of octyl alcohol to the UK, accounting for a 69% share of total imports. Moreover, octyl alcohol imports from Sweden exceeded the figures recorded by the second-largest supplier, Germany (X tons), sixfold. The third position in this ranking was taken by Thailand (X tons), with a 1.7% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden amounted to -44.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-43.0% per year) and Thailand (-41.2% per year).

In value terms, the largest octyl alcohol suppliers to the UK were Sweden ($X), Germany ($X) and Japan ($X), with a combined 67% share of total imports.

In terms of the main suppliers, Japan, with a CAGR of -30.2%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2022, the average octyl alcohol import price amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price saw a perceptible downturn. The pace of growth was the most pronounced in 2021 when the average import price increased by 16%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :