Asia-Pacific: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2024

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Asia-Pacific

The Asia-Pacific propyl and isopropyl alcohol market rose notably to $X in 2022, surging by 7.8% against the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2022 and is likely to see steady growth in the near future.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Asia-Pacific

In value terms, propyl and isopropyl alcohol production expanded remarkably to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.0% over the period 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 2020 with an increase of 49%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

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Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Exports in Asia-Pacific

In 2022, shipments abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -10.7% to X tons, falling for the second consecutive year after four years of growth. Over the period under review, exports, however, showed buoyant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 34%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, propyl and isopropyl alcohol exports shrank to $X in 2022. In general, exports, however, saw a measured increase. The most prominent rate of growth was recorded in 2020 with an increase of 75% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, China (X tons) was the largest exporter of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), making up 36% of total exports. South Korea (X tons) ranks second in terms of the total exports with a 20% share, followed by Taiwan (Chinese) (19%) and Japan (18%). Singapore (X tons) and India (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +47.6%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Taiwan (Chinese) ($X) and South Korea ($X) were the countries with the highest levels of exports in 2022, with a combined 74% share of total exports.

Among the main exporting countries, China, with a CAGR of +43.2%, 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

The export price in Asia-Pacific stood at $X per ton in 2022, almost unchanged from the previous year. Overall, the export price showed a mild descent. The pace of growth was the most pronounced in 2020 an increase of 46%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Singapore ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.8%), while the other leaders experienced a decline in the export price figures.

Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Imports in Asia-Pacific

In 2022, overseas purchases of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -3.6% to X tons, falling for the second consecutive year after six years of growth. Total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.6% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 12% against the previous year. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports declined to $X in 2022. Total imports indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -9.3% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 34%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) and China (X tons) were the key importers of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in Asia-Pacific, together amounting to approx. 44% of total imports. It was distantly followed by Malaysia (X tons), Indonesia (X tons), Thailand (X tons), Singapore (X tons), the Philippines (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons), together generating a 44% share of total imports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +12.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest propyl and isopropyl alcohol importing markets in Asia-Pacific were India ($X), China ($X) and Malaysia ($X), with a combined 51% share of total imports.

India, with a CAGR of +9.8%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, shrinking by -2.6% against the previous year. Over the period under review, the import price saw a mild decline. The pace of growth appeared the most rapid in 2020 when the import price increased by 23% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Malaysia ($X per ton), while India ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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