South-Eastern Asia: 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 South-Eastern Asia

In 2022, the Southeast Asian propyl and isopropyl alcohol market increased by 13% to $X, rising for the seventh year in a row after two years of decline. In general, consumption posted a remarkable increase. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in South-Eastern Asia

In value terms, propyl and isopropyl alcohol production fell to $X in 2022 estimated in export price. Overall, production showed a abrupt shrinkage. The pace of growth was the most pronounced in 2017 when the production volume increased by 450% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

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

Exports in South-Eastern Asia

After two years of growth, overseas shipments of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -73.5% to X tons in 2022. Overall, exports showed a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 50% against the previous year. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol exports plummeted to $X in 2022. In general, exports recorded a deep downturn. The growth pace was the most rapid in 2020 when exports increased by 71% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Singapore represented the key exporting country with an export of about X tons, which resulted at 80% of total exports. It was distantly followed by Malaysia (X tons), making up a 13% share of total exports. The following exporters - Vietnam (X tons) and Thailand (X tons) - each resulted at a 6.1% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to propyl and isopropyl alcohol exports from Singapore stood at -16.1%. At the same time, Thailand (+21.5%), Vietnam (+14.9%) and Malaysia (+7.3%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +21.5% from 2012-2022. Malaysia (+12 p.p.), Vietnam (+3.3 p.p.) and Thailand (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Singapore saw its share reduced by -18.1% from 2012 to 2022, respectively.

In value terms, Singapore ($X) remains the largest propyl and isopropyl alcohol supplier in South-Eastern Asia, comprising 81% of total exports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total exports. It was followed by Thailand, with a 4.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to -14.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+7.0% per year) and Thailand (+16.0% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, rising by 60% against the previous year. Export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.7% 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 +93.7% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.8%), while the other leaders experienced a decline in the export price figures.

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

Imports in South-Eastern Asia

In 2022, purchases abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -8.7% to X tons, falling for the second year in a row after three years of growth. Total imports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 -11.9% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 35%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, propyl and isopropyl alcohol imports contracted to $X in 2022. Total imports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 61%. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, Malaysia (X tons), Indonesia (X tons), Thailand (X tons), Singapore (X tons), the Philippines (X tons) and Vietnam (X tons) was the major importer of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in South-Eastern Asia, constituting 99% of total import.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of +12.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest propyl and isopropyl alcohol importing markets in South-Eastern Asia were Malaysia ($X), Indonesia ($X) and Thailand ($X), together accounting for 58% of total imports. Singapore, the Philippines and Vietnam lagged somewhat behind, together accounting for a further 41%.

Among the main importing countries, Vietnam, with a CAGR of +9.0%, recorded the highest growth rate of 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 import price in South-Eastern Asia stood at $X per ton in 2022, falling by -2.6% against the previous year. Over the period under review, the import price recorded a mild setback. The most prominent rate of growth was recorded in 2017 an increase of 26% against the previous year. The level of import peaked 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, major importing countries recorded the following prices: in Malaysia ($X per ton) and the Philippines ($X per ton), while Indonesia ($X per ton) and Thailand ($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 Philippines (+2.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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