Slovakia: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in Slovakia

The Slovak ethylene glycol market reduced slightly to $X in 2022, almost unchanged from the previous year. Overall, consumption, however, recorded a deep contraction. The growth pace was the most rapid in 2020 when the market value increased by 4.5% against the previous year. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Ethylene Glycol Production in Slovakia

In value terms, ethylene glycol production expanded sharply to $X in 2022 estimated in export price. In general, production recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 23% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Ethylene Glycol Exports

Exports from Slovakia

Ethylene glycol exports from Slovakia shrank remarkably to X tons in 2022, reducing by -50.2% on 2021. In general, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2018 with an increase of 76,532% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, ethylene glycol exports contracted markedly to $X in 2022. Overall, exports, however, continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2018 when exports increased by 68,078% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Austria (X tons), Serbia (X tons) and Bulgaria (X tons) were the main destinations of ethylene glycol exports from Slovakia, together accounting for 52% of total exports. Poland, Romania, Israel, Ukraine, Hungary and the Czech Republic lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ukraine (with a CAGR of +185.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ethylene glycol exported from Slovakia were Austria ($X), Serbia ($X) and Bulgaria ($X), together accounting for 57% of total exports. Romania, Poland, Ukraine, Hungary, Israel and the Czech Republic lagged somewhat behind, together accounting for a further 30%.

Among the main countries of destination, Ukraine, with a CAGR of +226.5%, saw the highest rates of growth with regard to 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 ethylene glycol export price amounted to $X per ton, declining by -3% against the previous year. In general, the export price showed a perceptible contraction. The growth pace was the most rapid in 2017 an increase of 82%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Israel ($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 Ukraine (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ethylene Glycol Imports

Imports into Slovakia

In 2022, approx. X tons of ethylene glycol (ethanediol) were imported into Slovakia; which is down by -2.7% against 2021. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.3% 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 +58.6% against 2020 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 75%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, ethylene glycol imports declined significantly to $X in 2022. Overall, imports, however, showed a perceptible increase. The pace of growth was the most pronounced in 2021 with an increase of 102%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Poland (X tons) constituted the largest ethylene glycol supplier to Slovakia, with a 50% share of total imports. Moreover, ethylene glycol imports from Poland exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland stood at +9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+61.3% per year) and Germany (+10.8% per year).

In value terms, Poland ($X) constituted the largest supplier of ethylene glycol (ethanediol) to Slovakia, comprising 50% of total imports. The second position in the ranking was taken by Belgium ($X), with an 18% share of total imports. It was followed by Germany, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Poland stood at +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+54.5% per year) and Germany (+6.5% per year).

Import Prices by Country

The average ethylene glycol import price stood at $X per ton in 2022, waning by -19.5% against the previous year. Overall, the import price showed a noticeable reduction. The most prominent rate of growth was recorded in 2017 an increase of 29% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Italy ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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