Eastern Europe: 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 Eastern Europe

The East European propyl and isopropyl alcohol market rose markedly to $X in 2022, picking up by 13% against the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Eastern Europe

In value terms, propyl and isopropyl alcohol production totaled $X in 2022 estimated in export price. In general, production continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2018 with an increase of 17%. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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

Exports in Eastern Europe

After two years of growth, overseas shipments of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -17.4% to X tons in 2022. In general, exports, however, continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 158% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced notably in the following year.

In value terms, propyl and isopropyl alcohol exports fell modestly to $X in 2022. Overall, exports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2020 when exports increased by 206%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced in the following year.

Exports by Country

Russia was the key exporter of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in Eastern Europe, with the volume of exports recording X tons, which was approx. 54% of total exports in 2022. Bulgaria (X tons) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by Poland (12%) and Lithuania (11%). The following exporters - the Czech Republic (X tons) and Hungary (X tons) - together made up 6.8% of total exports.

Exports from Russia increased at an average annual rate of +17.4% from 2012 to 2022. At the same time, Bulgaria (+57.8%), Lithuania (+15.7%), Poland (+14.3%), Hungary (+9.9%) and the Czech Republic (+4.4%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +57.8% from 2012-2022. Russia (+19 p.p.), Bulgaria (+14 p.p.), Lithuania (+2.7 p.p.) and Poland (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while the Czech Republic saw its share reduced by -4.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) remains the largest propyl and isopropyl alcohol supplier in Eastern Europe, comprising 43% of total exports. The second position in the ranking was held by Poland ($X), with a 16% share of total exports. It was followed by Bulgaria, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Russia totaled +15.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Poland (+16.7% per year) and Bulgaria (+52.6% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, growing by 18% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the export price increased by 38%. As a result, the export price attained the peak level of $X per ton. From 2021 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 the Czech Republic ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+2.0%), while the other leaders experienced more modest paces of growth.

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

Imports in Eastern Europe

In 2022, the amount of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) imported in Eastern Europe skyrocketed to X tons, increasing by 18% on 2021 figures. Over the period under review, imports enjoyed strong growth. The growth pace was the most rapid in 2020 when imports increased by 61%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, propyl and isopropyl alcohol imports skyrocketed to $X in 2022. In general, imports enjoyed buoyant growth. The pace of growth was the most pronounced in 2020 when imports increased by 137%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Russia was the largest importer of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in Eastern Europe, with the volume of imports amounting to X tons, which was approx. 47% of total imports in 2022. It was distantly followed by Poland (X tons), Hungary (X tons), Bulgaria (X tons) and the Czech Republic (X tons), together comprising a 37% share of total imports. The following importers - Lithuania (X tons) and Belarus (X tons) - each resulted at a 7.6% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to propyl and isopropyl alcohol imports into Russia stood at +12.7%. At the same time, Lithuania (+16.9%), Bulgaria (+12.9%), Poland (+4.4%), Hungary (+4.2%) and Belarus (+4.1%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +16.9% from 2012-2022. By contrast, the Czech Republic (-2.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Russia, Bulgaria and Lithuania increased by +20, +2.4 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Russia ($X) constitutes the largest market for imported propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in Eastern Europe, comprising 45% of total imports. The second position in the ranking was held by Poland ($X), with a 19% share of total imports. It was followed by Hungary, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Russia amounted to +12.2%. The remaining importing countries recorded the following average annual rates of imports growth: Poland (+6.1% per year) and Hungary (+5.4% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2022, rising by 2.1% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by 47% against the previous year. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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