Europe: Propylene Glycol Market 2024

Propylene Glycol Market Size in Europe

The Europe propylene glycol market shrank modestly to $X in 2022, with a decrease of -4.4% against the previous year. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +24.6% against 2020 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Propylene Glycol Production in Europe

In value terms, propylene glycol production declined slightly to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +30.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by 36%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Propylene Glycol Exports

Exports in Europe

In 2022, exports of propylene glycol (propane-1,2-diol) in Europe dropped markedly to X tons, waning by -32.8% compared with the previous year. Overall, exports showed a slight decrease. The pace of growth was the most pronounced in 2021 with an increase of 34%. As a result, the exports reached the peak of X tons, and then shrank rapidly in the following year.

In value terms, propylene glycol exports declined to $X in 2022. In general, exports, however, posted a temperate expansion. The pace of growth was the most pronounced in 2021 with an increase of 119% against the previous year. As a result, the exports reached the peak of $X, and then contracted in the following year.

Exports by Country

Germany represented the key exporting country with an export of around X tons, which resulted at 47% of total exports. The Netherlands (X tons) took the second position in the ranking, followed by France (X tons), Spain (X tons) and Belgium (X tons). All these countries together held approx. 45% share of total exports. Poland (X tons) and Romania (X tons) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to propylene glycol exports from Germany stood at -3.1%. At the same time, Poland (+27.6%), Spain (+7.0%), Romania (+6.9%) and France (+2.1%) displayed positive paces of growth. Moreover, Poland emerged as the fastest-growing exporter exported in Europe, with a CAGR of +27.6% from 2012-2022. By contrast, the Netherlands (-3.4%) and Belgium (-4.2%) illustrated a downward trend over the same period. While the share of Spain (+6.4 p.p.), France (+3.8 p.p.) and Poland (+3.3 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Belgium (-2.1 p.p.), the Netherlands (-3.4 p.p.) and Germany (-9.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Germany ($X) remains the largest propylene glycol supplier in Europe, comprising 48% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 14% share of total exports. It was followed by Spain, with a 12% share.

In Germany, propylene glycol exports expanded at an average annual rate of +2.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the Netherlands (+1.8% per year) and Spain (+12.7% per year).

Export Prices by Country

The export price in Europe stood at $X per ton in 2022, increasing by 33% against the previous year. Over the period under review, the export price recorded prominent growth. The pace of growth appeared the most rapid in 2021 when the export price increased by 63% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Belgium ($X per ton) and Poland ($X per ton), while France ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+6.9%), while the other leaders experienced more modest paces of growth.

Propylene Glycol Imports

Imports in Europe

After two years of growth, overseas purchases of propylene glycol (propane-1,2-diol) decreased by -24.6% to X tons in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 25%. As a result, imports reached the peak of X tons, and then shrank remarkably in the following year.

In value terms, propylene glycol imports declined to $X in 2022. In general, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2021 when imports increased by 101%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

The purchases of the twelve major importers of propylene glycol (propane-1,2-diol), namely France, Italy, Belgium, Spain, the Netherlands, the UK, Germany, Russia, Poland, Sweden, Ireland and Finland, represented more than two-thirds of total import.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +12.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest propylene glycol importing markets in Europe were France ($X), Italy ($X) and Spain ($X), together accounting for 35% of total imports. Belgium, the Netherlands, the UK, Germany, Poland, Ireland, Russia, Sweden and Finland lagged somewhat behind, together comprising a further 51%.

Ireland, with a CAGR of +18.9%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 Europe amounted to $X per ton, surging by 25% against the previous year. Import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, propylene glycol import price increased by +100.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 61%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ireland ($X per ton), while Russia ($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 (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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