Northern America: 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 Northern America

In 2022, after two years of growth, there was significant decline in the North American propyl and isopropyl alcohol market, when its value decreased by -5.4% to $X. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +11.2% against 2019 indices. The level of consumption peaked at $X in 2021, and then declined in the following year.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Northern America

In value terms, propyl and isopropyl alcohol production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 31%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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

Exports in Northern America

In 2022, propyl and isopropyl alcohol exports in Northern America reached X tons, picking up by 1.9% against 2021. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 12%. The volume of export peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, propyl and isopropyl alcohol exports amounted to $X in 2022. The total export value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 31%. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the United States (X tons) represented the main exporter of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), mixing up 79% of total exports. It was distantly followed by Canada (X tons), generating a 21% share of total exports.

The United States was also the fastest-growing in terms of the propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports, with a CAGR of +1.2% from 2012 to 2022. Canada experienced a relatively flat trend pattern. While the share of the United States (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Canada (-2.7 p.p.) displayed negative dynamics.

In value terms, the United States ($X) remains the largest propyl and isopropyl alcohol supplier in Northern America, comprising 82% of total exports. The second position in the ranking was held by Canada ($X), with an 18% share of total exports.

In the United States, propyl and isopropyl alcohol exports expanded at an average annual rate of +2.2% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, remaining stable against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the export price increased by 33%. Over the period under review, the export prices hit record highs at $X per ton in 2021, and then fell slightly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.0%).

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

Imports in Northern America

In 2022, purchases abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -10.1% to X tons, falling for the second year in a row after two years of growth. The total import volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 26%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports shrank to $X in 2022. Total imports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 41% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

The United States represented the largest importing country with an import of about X tons, which accounted for 79% of total imports. It was distantly followed by Canada (X tons), generating a 21% share of total imports.

Imports into the United States increased at an average annual rate of +1.8% from 2012 to 2022. At the same time, Canada (+4.0%) displayed positive paces of growth. Moreover, Canada emerged as the fastest-growing importer imported in Northern America, with a CAGR of +4.0% from 2012-2022. While the share of Canada (+3.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United States (-3.3 p.p.) displayed negative dynamics.

In value terms, the United States ($X) constitutes the largest market for imported propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in Northern America, comprising 78% of total imports. The second position in the ranking was taken by Canada ($X), with a 22% share of total imports.

In the United States, propyl and isopropyl alcohol imports increased at an average annual rate of +1.9% over the period from 2012-2022.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, approximately reflecting the previous year. In general, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by 25%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.1%).

Source: IndexBox Platform

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