Guatemala: Propylene Glycol Market 2024

Propylene Glycol Market Size in Guatemala

For the third year in a row, the Guatemalan propylene glycol market recorded growth in sales value, which increased by 53% to $X in 2022. Overall, consumption recorded a remarkable increase. Over the period under review, the market attained the maximum level in 2022 and is likely to see steady growth in years to come.

Propylene Glycol Exports

Exports from Guatemala

In 2022, after two years of growth, there was significant decline in overseas shipments of propylene glycol (propane-1,2-diol), when their volume decreased by -14.7% to X tons. Overall, exports, however, saw perceptible growth. The most prominent rate of growth was recorded in 2015 when exports increased by 113%. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, propylene glycol exports surged to $X in 2022. In general, exports, however, showed a resilient expansion. The growth pace was the most rapid in 2021 when exports increased by 142% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Nicaragua (X tons), Costa Rica (X tons) and El Salvador (X tons) were the main destinations of propylene glycol exports from Guatemala, together accounting for 75% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Nicaragua (with a CAGR of +15.7%), while the other leaders experienced more modest paces of growth.

In value terms, Nicaragua ($X), Costa Rica ($X) and El Salvador ($X) appeared to be the largest markets for propylene glycol exported from Guatemala worldwide, with a combined 72% share of total exports.

Among the main countries of destination, Nicaragua, with a CAGR of +20.0%, saw the highest growth rate of 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

In 2022, the average propylene glycol export price amounted to $X per ton, rising by 42% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2022: its price 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, propylene glycol export price increased by +131.0% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 63%. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to El Salvador ($X 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 Honduras (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into Guatemala

For the third consecutive year, Guatemala recorded growth in supplies from abroad of propylene glycol (propane-1,2-diol), which increased by 6.5% to X tons in 2022. Over the period under review, imports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 34% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, propylene glycol imports skyrocketed to $X in 2022. Overall, imports enjoyed strong growth. The pace of growth appeared the most rapid in 2021 with an increase of 87%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

China (X tons), South Korea (X tons) and the United States (X tons) were the main suppliers of propylene glycol imports to Guatemala, with a combined 80% share of total imports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +50.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest propylene glycol suppliers to Guatemala were South Korea ($X), China ($X) and the United States ($X), together comprising 78% of total imports.

Among the main suppliers, the United States, with a CAGR of +52.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average propylene glycol import price amounted to $X per ton, picking up by 56% against the previous year. In general, import price indicated moderate growth from 2012 to 2022: its price increased at an average annual rate of +4.4% 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 +117.4% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the United States ($X per ton) and Germany ($X per ton), while the price for China ($X per ton) and South Korea ($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 Netherlands (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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