New Zealand: Propylene Glycol Market 2024

Propylene Glycol Market Size in New Zealand

The New Zealand propylene glycol market contracted dramatically to $X in 2022, falling by -28.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.9% 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 +21.8% against 2020 indices. As a result, consumption attained the peak level of $X, and then contracted markedly in the following year.

Propylene Glycol Exports

Exports from New Zealand

In 2022, overseas shipments of propylene glycol (propane-1,2-diol) were finally on the rise to reach X tons after two years of decline. In general, exports showed buoyant growth. The most prominent rate of growth was recorded in 2016 when exports increased by 433% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, propylene glycol exports soared to $X in 2022. Over the period under review, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 393% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Australia (X tons), Fiji (X tons) and Samoa (X tons) were the main destinations of propylene glycol exports from New Zealand, with a combined 92% share of total exports. Papua New Guinea and New Caledonia lagged somewhat behind, together accounting for a further 7%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Papua New Guinea (with a CAGR of +24.9%), while the other leaders experienced more modest paces of growth.

In value terms, Australia ($X), Fiji ($X) and Samoa ($X) were the largest markets for propylene glycol exported from New Zealand worldwide, with a combined 92% share of total exports. Papua New Guinea and New Caledonia lagged somewhat behind, together accounting for a further 7%.

Papua New Guinea, with a CAGR of +44.1%, recorded the highest growth rate of the value of exports, among 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 2022, the average propylene glycol export price amounted to $X per ton, picking up by 26% against the previous year. Overall, export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.2% 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 +120.6% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 75% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Australia ($X per ton) and New Caledonia ($X per ton), while the average price for exports to Papua New Guinea ($X per ton) and Samoa ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Papua New Guinea (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

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Propylene Glycol Imports

Imports into New Zealand

In 2022, approx. X tons of propylene glycol (propane-1,2-diol) were imported into New Zealand; which is down by -44.3% against the year before. Over the period under review, imports saw a mild slump. The most prominent rate of growth was recorded in 2015 when imports increased by 24% against the previous year. Imports peaked at X tons in 2021, and then fell rapidly in the following year.

In value terms, propylene glycol imports declined markedly to $X in 2022. In general, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +66.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 104%. As a result, imports attained the peak of $X, and then fell significantly in the following year.

Imports by Country

China (X tons), Thailand (X tons) and South Korea (X tons) were the main suppliers of propylene glycol imports to New Zealand, with a combined 88% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +59.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Thailand ($X) and South Korea ($X) were the largest propylene glycol suppliers to New Zealand, together accounting for 88% of total imports.

Thailand, with a CAGR of +83.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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, growing by 46% against the previous year. In general, the import price recorded a buoyant increase. The growth pace was the most rapid in 2021 an increase of 66%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Australia ($X per ton) and the United States ($X per ton), while the price for Singapore ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+14.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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