Singapore: 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 Singapore

After two years of decline, the Singaporean propyl and isopropyl alcohol market increased by 801,676% to $X in 2022. In general, consumption recorded significant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

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

In value terms, propyl and isopropyl alcohol production contracted to $X in 2022 estimated in export price. Over the period under review, production saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 when the production volume increased by 450% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

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

Exports from Singapore

After two years of growth, shipments abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -77.8% to X tons in 2022. Overall, exports saw a deep setback. The pace of growth appeared the most rapid in 2017 with an increase of 49%. Over the period under review, the exports reached the peak figure at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, propyl and isopropyl alcohol exports reduced sharply to $X in 2022. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2017 with an increase of 69% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Malaysia (X tons), Vietnam (X tons) and Sri Lanka (X tons) were the main destinations of propyl and isopropyl alcohol exports from Singapore, with a combined 48% share of total exports. Bangladesh, Taiwan (Chinese), Australia, Thailand, Indonesia, the Philippines, Myanmar, China, India and Japan lagged somewhat behind, together accounting for a further 43%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (with a CAGR of +65.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for propyl and isopropyl alcohol exported from Singapore were Vietnam ($X), Malaysia ($X) and Sri Lanka ($X), together accounting for 52% of total exports. Bangladesh, Taiwan (Chinese), Thailand, Australia, Indonesia, the Philippines, China, Myanmar, India and Japan lagged somewhat behind, together comprising a further 39%.

Taiwan (Chinese), with a CAGR of +51.4%, saw the highest rates of growth with regard to the value of exports, in terms of 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 propyl and isopropyl alcohol export price amounted to $X per ton, picking up by 67% against the previous year. Overall, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, propyl and isopropyl alcohol export price increased by +99.1% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Myanmar ($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 Vietnam (+4.1%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Singapore

In 2022, supplies from abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -5.6% to X tons, falling for the second year in a row after two years of growth. Overall, total imports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -21.5% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 78%. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, propyl and isopropyl alcohol imports dropped to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 87%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Japan (X tons), South Africa (X tons) and South Korea (X tons) were the main suppliers of propyl and isopropyl alcohol imports to Singapore, with a combined 84% 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 South Korea (with a CAGR of +39.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), South Africa ($X) and China ($X) appeared to be the largest propyl and isopropyl alcohol suppliers to Singapore, together accounting for 75% of total imports. South Korea, Taiwan (Chinese) and the United States lagged somewhat behind, together comprising a further 21%.

Among the main suppliers, South Korea, with a CAGR of +35.2%, saw 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

The average propyl and isopropyl alcohol import price stood at $X per ton in 2022, declining by -3.5% against the previous year. In general, the import price showed a slight shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 43%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for South Africa ($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 United States (+12.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :