South Africa: Propylene Glycol Market 2024

Propylene Glycol Market Size in South Africa

The South African propylene glycol market fell to $X in 2022, declining by -9.4% 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). In general, consumption, however, saw a noticeable expansion. As a result, consumption reached the peak level of $X, and then shrank in the following year.

Propylene Glycol Exports

Exports from South Africa

For the third year in a row, South Africa recorded decline in overseas shipments of propylene glycol (propane-1,2-diol), which decreased by -8.9% to X tons in 2022. Over the period under review, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2019 when exports increased by 161%. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, propylene glycol exports skyrocketed to $X in 2022. Overall, exports recorded a noticeable curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 147% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Zimbabwe (X tons), Botswana (X tons) and Zambia (X tons) were the main destinations of propylene glycol exports from South Africa, together accounting for 62% of total exports. Democratic Republic of the Congo, Malawi, Namibia, Ghana, Kenya, Mozambique, Swaziland and Tanzania lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kenya (with a CAGR of +62.7%), while the other leaders experienced more modest paces of growth.

In value terms, Zimbabwe ($X) remains the key foreign market for propylene glycol (propane-1,2-diol) exports from South Africa, comprising 33% of total exports. The second position in the ranking was held by Botswana ($X), with a 15% share of total exports. It was followed by Democratic Republic of the Congo, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Zimbabwe stood at +3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (+17.2% per year) and Democratic Republic of the Congo (+1.8% per year).

Export Prices by Country

In 2022, the average propylene glycol export price amounted to $X per ton, surging by 32% against the previous year. Over the period under review, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% 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 +99.3% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 82%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Tanzania ($X per ton), while the average price for exports to Botswana ($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 Tanzania (+11.6%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into South Africa

In 2022, propylene glycol imports into South Africa contracted sharply to X tons, waning by -26.7% compared with the year before. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 71% against the previous year. As a result, imports reached the peak of X tons, and then shrank sharply in the following year.

In value terms, propylene glycol imports contracted modestly to $X in 2022. Overall, imports, however, continue to indicate a measured expansion. The growth pace was the most rapid in 2021 with an increase of 176%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

China (X tons), Saudi Arabia (X tons) and South Korea (X tons) were the main suppliers of propylene glycol imports to South Africa, with a combined 87% 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 Saudi Arabia (with a CAGR of +42.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Saudi Arabia ($X) and South Korea ($X) appeared to be the largest propylene glycol suppliers to South Africa, together comprising 85% of total imports.

Saudi Arabia, with a CAGR of +64.0%, recorded the highest rates of growth with regard to the value of imports, among 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, jumping by 35% against the previous year. In general, import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.0% 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 +118.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 61%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Singapore ($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 Netherlands (+33.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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