Price for Propylene, Other Olefin Polymers; Propylene Copolymers in Primary Forms in the United States - 2023

Contents:

1. Price for Propylene, Other Olefin Polymers; Propylene Copolymers in Primary Forms in the United States (FOB) - 2022
2. Price for Propylene, Other Olefin Polymers; Propylene Copolymers in Primary Forms in the United States (CIF) - 2023
3. Exports of Propylene, Other Olefin Polymers; Propylene Copolymers in Primary Forms in the United States
4. Imports of Propylene, Other Olefin Polymers; Propylene Copolymers in Primary Forms in the United States

Price for Propylene, Other Olefin Polymers; Propylene Copolymers in Primary Forms in the United States (FOB) - 2022

The average export price for propylene, other olefin polymers; propylene copolymers in primary formses stood at $2,677 per ton in 2022, approximately reflecting the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The pace of growth appeared the most rapid in 2021 an increase of 60%. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($5,502 per ton), while the average price for exports to Canada ($2,511 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 Singapore (+10.1%), while the prices for the other major destinations experienced more modest paces of growth.

Price for Propylene, Other Olefin Polymers; Propylene Copolymers in Primary Forms in the United States (CIF) - 2023

In November 2023, the average import price for propylene, other olefin polymers; propylene copolymers in primary formses amounted to $1,840 per ton, with an increase of 3% against the previous month. In general, the import price, however, saw a slight downturn. The pace of growth appeared the most rapid in April 2023 an increase of 10% m-o-m. Over the period under review, average import prices reached the peak figure at $2,155 per ton in January 2023; however, from February 2023 to November 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In November 2023, the country with the highest price was Japan ($3,445 per ton), while the price for Canada ($1,159 per ton) was amongst the lowest.

From December 2022 to November 2023, the most notable rate of growth in terms of prices was attained by South Korea (+0.8%), while the prices for the other major suppliers experienced a decline.

Exports of Propylene, Other Olefin Polymers; Propylene Copolymers in Primary Forms in the United States

For the third consecutive year, the United States recorded decline in shipments abroad of propylene, other olefin polymers; propylene copolymers in primary formses, which decreased by -3.9% to 620K tons in 2022. Overall, exports showed a perceptible descent. The smallest decline of -3.6% was in 2020.

In value terms, exports of propylene, other olefin polymers; propylene copolymers in primary formses dropped modestly to $1.7B in 2022. In general, total exports indicated a strong expansion from 2019 to 2022: its value increased at an average annual rate of +6.8% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 49% against the previous year. As a result, the exports reached the peak of $1.7B, and then contracted in the following year.

Top Export Markets for Propylene, Other Olefin Polymers; Propylene Copolymers in Primary Forms from the United States in 2022:

1. Mexico (303.3K tons)
2. Canada (235.6K tons)
3. Belgium (20.9K tons)
4. China (13.5K tons)

Imports of Propylene, Other Olefin Polymers; Propylene Copolymers in Primary Forms in the United States

In 2022, the amount of propylene, other olefin polymers; propylene copolymers in primary formses imported into the United States shrank notably to 235K tons, waning by -31.2% against the previous year. Overall, imports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when imports increased by 86%. As a result, imports attained the peak of 341K tons, and then reduced rapidly in the following year.

In value terms, imports of propylene, other olefin polymers; propylene copolymers in primary formses contracted rapidly to $489M in 2022. Over the period under review, imports, however, recorded a moderate increase. The pace of growth was the most pronounced in 2021 when imports increased by 123% against the previous year. As a result, imports reached the peak of $638M, and then reduced rapidly in the following year.

Top Suppliers of Propylene, Other Olefin Polymers; Propylene Copolymers in Primary Forms to the United States in 2022:

1. South Korea (76.3K tons)
2. Singapore (60.7K tons)
3. Canada (21.9K tons)
4. Netherlands (12.9K tons)
5. Belgium (12.9K tons)
6. Japan (11.8K tons)
7. Germany (9.2K tons)
8. Mexico (4.7K tons)
9. Brazil (2.7K tons)

Source: IndexBox Market Intelligence Platform