Azerbaijan: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2022

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

In 2021, after four years of growth, there was significant decline in the Azerbaijani propyl and isopropyl alcohol market, when its value decreased by -X% to $X. Over the period under review, consumption showed a dramatic decline. Propyl and isopropyl alcohol consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Propan-X (Propyl Alcohol) And Propan-X (Isopropyl Alcohol) in Azerbaijan

In value terms, propyl and isopropyl alcohol production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

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

Exports from Azerbaijan

In 2021, overseas shipments of propan-X (propyl alcohol) and propan-X (isopropyl alcohol) were finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports showed a moderate expansion. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

In value terms, propyl and isopropyl alcohol exports skyrocketed to $X in 2021. Over the period under review, exports showed a mild descent. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Russia (X tons), Turkey (X tons) and Bulgaria (X tons) were the main destinations of propyl and isopropyl alcohol exports from Azerbaijan, with a combined X% share of total exports.

From 2012 to 2021, the biggest increases were in Bulgaria (with a CAGR of +X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Turkey ($X) and Bulgaria ($X) appeared to be the largest markets for propyl and isopropyl alcohol exported from Azerbaijan worldwide, together accounting for X% of total exports.

Bulgaria, with a CAGR of +X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average propyl and isopropyl alcohol export price amounted to $X per ton, declining by -X% against the previous year. Over the period under review, the export price showed a deep downturn. The pace of growth was the most pronounced in 2020 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2021, the countries with the highest prices were Bulgaria ($X per ton) and Ukraine ($X per ton), while the average price for exports to Turkey ($X per ton) and Russia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Israel (X%), while the prices for the other major destinations experienced a decline.

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

Imports into Azerbaijan

In 2021, supplies from abroad of propan-X (propyl alcohol) and propan-X (isopropyl alcohol) decreased by -X% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, imports faced a deep slump. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, propyl and isopropyl alcohol imports declined significantly to $X in 2021. Over the period under review, imports faced a abrupt downturn. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tons) constituted the largest propyl and isopropyl alcohol supplier to Azerbaijan, accounting for a X% share of total imports. Moreover, propyl and isopropyl alcohol imports from Turkey exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold. The third position in this ranking was occupied by the United States (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+X% per year) and the United States (-X% per year).

In value terms, Turkey ($X) constituted the largest supplier of propyl and isopropyl alcohol to Azerbaijan, comprising X% of total imports. The second position in the ranking was occupied by the UK ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Turkey totaled -X%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+X% per year) and the United States (-X% per year).

Import Prices by Country

The average propyl and isopropyl alcohol import price stood at $X per ton in 2021, with an increase of X% against the previous year. In general, import price indicated a perceptible expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, propyl and isopropyl alcohol import price increased by +X% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform