Derivatives Of Hydrocarbons Containing Only Sulpho Groups; Their Salts And Ethyl Esters Market

The article discusses the increasing demand for derivatives of hydrocarbons containing only sulpho groups, their salts, and ethyl esters worldwide. The market is forecasted to continue growing with a CAGR of +2.1% in volume and +4.6% in value from 2022 to 2030. China, the largest consumer and producer, is driving the market growth, while imports and exports are also significant contributors to the market dynamics. The global market is expected to see steady growth in the coming years, with notable fluctuations in consumption, production, imports, and exports.

Market Forecast

Driven by increasing demand for derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.1% for the period from 2022 to 2030, which is projected to bring the market volume to 1.4M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.6% for the period from 2022 to 2030, which is projected to bring the market value to $3.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Derivatives Of Hydrocarbons Containing Only Sulpho Groups; Their Salts And Ethyl Esters

In 2022, global consumption of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters expanded modestly to 1.2M tons, surging by 3% on 2021 figures. The total consumption volume increased at an average annual rate of +2.3% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked at 1.3M tons in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

The value of the market for derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters worldwide rose rapidly to $2.6B in 2022, growing by 7.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. Global consumption peaked in 2022 and is likely to see steady growth in years to come.

Consumption By Country

China (257K tons) remains the largest derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters consuming country worldwide, accounting for 21% of total volume. Moreover, consumption of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters in China exceeded the figures recorded by the second-largest consumer, the United States (127K tons), twofold. The third position in this ranking was held by India (103K tons), with an 8.5% share.

From 2012 to 2022, the average annual growth rate of volume in China amounted to +3.4%. In the other countries, the average annual rates were as follows: the United States (+4.9% per year) and India (+3.6% per year).

In value terms, China ($747M) led the market, alone. The second position in the ranking was taken by the United States ($300M). It was followed by India.

From 2012 to 2022, the average annual rate of growth in terms of value in China stood at +3.8%. In the other countries, the average annual rates were as follows: the United States (+3.8% per year) and India (+3.6% per year).

In 2022, the highest levels of per capita consumption of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters was registered in Belgium (2,682 kg per 1000 persons), followed by France (642 kg per 1000 persons), the UK (555 kg per 1000 persons) and Germany (417 kg per 1000 persons), while the world average per capita consumption of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters was estimated at 155 kg per 1000 persons.

From 2012 to 2022, the average annual growth rate of the per capita consumption of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters in Belgium amounted to +17.1%. In the other countries, the average annual rates were as follows: France (+7.5% per year) and the UK (+3.7% per year).

Production

World Production of Derivatives Of Hydrocarbons Containing Only Sulpho Groups; Their Salts And Ethyl Esters

In 2022, after two years of growth, there was decline in production of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters, when its volume decreased by -0.4% to 1.2M tons. The total output volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 with an increase of 23% against the previous year. Global production peaked at 1.3M tons in 2018; however, from 2019 to 2022, production remained at a lower figure.

In value terms, production of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters expanded to $2.3B in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 12%. Over the period under review, global production of reached the maximum level at $2.4B in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Production By Country

China (262K tons) remains the largest derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters producing country worldwide, accounting for 22% of total volume. Moreover, production of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters in China exceeded the figures recorded by the second-largest producer, the United States (130K tons), twofold. The third position in this ranking was held by India (110K tons), with a 9.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China stood at +3.0%. In the other countries, the average annual rates were as follows: the United States (+5.6% per year) and India (+2.1% per year).

Imports

World Imports of Derivatives Of Hydrocarbons Containing Only Sulpho Groups; Their Salts And Ethyl Esters

In 2022, the amount of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters imported worldwide contracted to 389K tons, flattening at 2021. The total import volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 27% against the previous year. As a result, imports reached the peak of 436K tons. From 2015 to 2022, the growth of global imports of remained at a lower figure.

In value terms, imports of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters skyrocketed to $825M in 2022. The total import value increased at an average annual rate of +4.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 18% against the previous year. Over the period under review, global imports of reached the maximum in 2022 and are expected to retain growth in the near future.

Imports By Country

Belgium (48K tons) and France (47K tons) were the main importers of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters in 2022, amounting to near 12% and 12% of total imports, respectively. It was distantly followed by Germany (21K tons), constituting a 5.4% share of total imports. Saudi Arabia (16K tons), the United States (16K tons), China (14K tons), Senegal (13K tons), Japan (11K tons), the UK (11K tons), Egypt (10K tons), Romania (10K tons), Canada (9.9K tons) and Spain (9K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +71.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, France ($99M), Belgium ($81M) and the United States ($41M) constituted the countries with the highest levels of imports in 2022, with a combined 27% share of global imports. China, Germany, Japan, Egypt, Romania, Canada, Senegal, the UK, Spain and Saudi Arabia lagged somewhat behind, together comprising a further 27%.

Senegal, with a CAGR of +67.5%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average import price for derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters amounted to $2,121 per ton, rising by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.9%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($2,726 per ton), while Saudi Arabia ($681 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+2.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Derivatives Of Hydrocarbons Containing Only Sulpho Groups; Their Salts And Ethyl Esters

In 2022, the amount of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters exported worldwide shrank to 363K tons, with a decrease of -10% against 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 35%. As a result, the exports attained the peak of 519K tons. From 2019 to 2022, the growth of the global exports of failed to regain momentum.

In value terms, exports of derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters totaled $701M in 2022. The total export value increased at an average annual rate of +1.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 37%. As a result, the exports attained the peak of $794M. From 2019 to 2022, the growth of the global exports of failed to regain momentum.

Exports By Country

The biggest shipments were from Italy (50K tons), Germany (43K tons), Belgium (41K tons), Spain (39K tons), the Czech Republic (29K tons), Russia (27K tons), France (20K tons), China (19K tons), the United States (19K tons) and India (14K tons), together accounting for 83% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Russia (with a CAGR of +40.9%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($98M), Italy ($94M) and China ($80M) were the countries with the highest levels of exports in 2022, with a combined 39% share of global exports. Belgium, the United States, India, France, Spain, the Czech Republic and Russia lagged somewhat behind, together comprising a further 43%.

Among the main exporting countries, Russia, with a CAGR of +37.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average export price for derivatives of hydrocarbons containing only sulpho groups; their salts and ethyl esters amounted to $1,933 per ton, jumping by 17% against the previous year. In general, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $1,979 per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was China ($4,140 per ton), while Russia ($905 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.0%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform