Unsaturated Acyclic Hydrocarbons Market

The article analyzes the rising demand for unsaturated acyclic hydrocarbons globally, with an anticipated growth in market volume and value. It provides insights on key trends in consumption, production, imports, and exports, highlighting the top consuming and producing countries. The data shows fluctuations in consumption and production levels over the years, as well as changes in import and export prices. The United States, China, and Belgium emerge as key players in the market, with varying growth rates in import and export values. Overall, the article offers a comprehensive overview of the unsaturated acyclic hydrocarbons market and its expected trajectory in the near future.

Market Forecast

Driven by rising demand for unsaturated acyclic hydrocarbons worldwide, the market is expected to start an upward consumption trend over the next eight-year period. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +2.2% for the period from 2022 to 2030, which is projected to bring the market volume to 5.7M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2022 to 2030, which is projected to bring the market value to $14.9B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Unsaturated Acyclic Hydrocarbons

In 2022, the amount of unsaturated acyclic hydrocarbons consumed worldwide fell to 4.7M tons, with a decrease of -8.2% against the year before. In general, consumption recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of 1.3% against the previous year. Over the period under review, global consumption hit record highs at 5.9M tons in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

The global unsaturated acyclic hydrocarbons market value was estimated at $11.9B in 2022, approximately mirroring 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). Overall, consumption saw a slight curtailment. The most prominent rate of growth was recorded in 2018 with an increase of 3.4% against the previous year. Global consumption peaked at $14.4B in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Consumption By Country

China (884K tons) remains the largest unsaturated acyclic hydrocarbons consuming country worldwide, comprising approx. 19% of total volume. Moreover, unsaturated acyclic hydrocarbons consumption in China exceeded the figures recorded by the second-largest consumer, India (379K tons), twofold. The United States (322K tons) ranked third in terms of total consumption with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China amounted to -1.2%. In the other countries, the average annual rates were as follows: India (-1.1% per year) and the United States (-2.0% per year).

In value terms, China ($2.9B), India ($1.5B) and the United States ($501M) constituted the countries with the highest levels of market value in 2022, together accounting for 41% of the global market. Belgium, Japan, Russia, Pakistan, Singapore, Nigeria, Canada, the Czech Republic, Italy and Indonesia lagged somewhat behind, together comprising a further 17%.

Among the main consuming countries, Singapore, with a CAGR of +17.0%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of unsaturated acyclic hydrocarbons per capita consumption in 2022 were Belgium (26 kg per person), Singapore (18 kg per person) and the Czech Republic (9.9 kg per person).

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +15.2%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Unsaturated Acyclic Hydrocarbons

Global unsaturated acyclic hydrocarbons production shrank modestly to 5M tons in 2022, standing approx. at the previous year's figure. In general, production saw a slight downturn. The most prominent rate of growth was recorded in 2021 when the production volume increased by 1.9% against the previous year. Global production peaked at 5.9M tons in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, unsaturated acyclic hydrocarbons production fell slightly to $10.2B in 2022 estimated in export price. Overall, production showed a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of 3.9% against the previous year. Global production peaked at $13.2B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were China (804K tons), the United States (778K tons) and Iran (351K tons), with a combined 39% share of global production.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +8.7%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Unsaturated Acyclic Hydrocarbons

After three years of growth, supplies from abroad of unsaturated acyclic hydrocarbons decreased by -17.6% to 1.8M tons in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 16%. Global imports peaked at 2.2M tons in 2021, and then shrank notably in the following year.

In value terms, unsaturated acyclic hydrocarbons imports expanded significantly to $3.2B in 2022. The total import value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, 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 23% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports By Country

The United States (246K tons) and Belgium (229K tons) represented the key importers of unsaturated acyclic hydrocarbons in 2022, accounting for near 14% and 13% of total imports, respectively. It was followed by Singapore (143K tons), India (131K tons), China (120K tons), the Netherlands (115K tons), Thailand (102K tons), France (98K tons), South Korea (92K tons) and Canada (90K tons), together making up a 50% share of total imports. The following importers - Spain (58K tons), Germany (46K tons) and Italy (36K tons) - together made up 7.8% of total imports.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +16.1%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($401M), Belgium ($380M) and Singapore ($262M) were the countries with the highest levels of imports in 2022, with a combined 32% share of global imports.

Among the main importing countries, Singapore, with a CAGR of +11.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average unsaturated acyclic hydrocarbons import price stood at $1,800 per ton in 2022, growing by 32% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached 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 Germany ($2,226 per ton), while South Korea ($1,400 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Unsaturated Acyclic Hydrocarbons

In 2022, shipments abroad of unsaturated acyclic hydrocarbons increased by 0.7% to 2M tons, rising for the third consecutive year after two years of decline. The total export volume increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when exports increased by 18% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, unsaturated acyclic hydrocarbons exports soared to $3.3B in 2022. Overall, total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +60.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 27% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are expected to retain growth in the near future.

Exports By Country

In 2022, the United States (701K tons) represented the key exporter of unsaturated acyclic hydrocarbons, creating 35% of total exports. It was distantly followed by Iran (300K tons), South Africa (271K tons), Belgium (240K tons) and Canada (133K tons), together generating a 47% share of total exports. Saudi Arabia (83K tons) and Brazil (55K tons) held a little share of total exports.

Exports from the United States increased at an average annual rate of +5.9% from 2012 to 2022. At the same time, Iran (+17.0%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in the world, with a CAGR of +17.0% from 2012-2022. Belgium and Canada experienced a relatively flat trend pattern. By contrast, South Africa (-1.2%), Saudi Arabia (-5.4%) and Brazil (-6.4%) illustrated a downward trend over the same period. Iran (+11 p.p.) and the United States (+11 p.p.) significantly strengthened its position in terms of the global exports, while Belgium, Canada, Brazil, Saudi Arabia and South Africa saw its share reduced by -2.1%, -2.1%, -3.8%, -4.7% and -5.3% from 2012 to 2022, respectively.

In value terms, the United States ($1.1B) remains the largest unsaturated acyclic hydrocarbons supplier worldwide, comprising 35% of global exports. The second position in the ranking was held by Belgium ($502M), with a 15% share of global exports. It was followed by South Africa, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +5.8%. In the other countries, the average annual rates were as follows: Belgium (+1.2% per year) and South Africa (-1.4% per year).

Export Prices By Country

In 2022, the average unsaturated acyclic hydrocarbons export price amounted to $1,641 per ton, picking up by 23% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Belgium ($2,092 per ton), while Iran ($588 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+7.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform