Spain: 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 Spain

In 2022, after two years of growth, there was significant decline in the Spanish propyl and isopropyl alcohol market, when its value decreased by -18.9% to $X. Overall, consumption, however, saw a relatively flat trend pattern. Propyl and isopropyl alcohol consumption peaked at $X in 2021, and then declined remarkably in the following year.

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

In value terms, propyl and isopropyl alcohol production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period 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 2021 when the production volume increased by 7.9%. As a result, production reached the peak level of $X, and then declined in the following year.

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

Exports from Spain

Propyl and isopropyl alcohol exports from Spain surged to X tons in 2022, rising by 20% on the previous year. Over the period under review, exports, however, recorded a noticeable reduction. The growth pace was the most rapid in 2020 with an increase of 51% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports failed to regain momentum.

In value terms, propyl and isopropyl alcohol exports rose notably to $X in 2022. Overall, exports, however, recorded a mild shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 114% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Portugal (X tons), France (X tons) and Italy (X tons) were the main destinations of propyl and isopropyl alcohol exports from Spain, together accounting for 75% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +15.1%), while the other leaders experienced more modest paces of growth.

In value terms, Portugal ($X) remains the key foreign market for propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports from Spain, comprising 35% of total exports. The second position in the ranking was taken by France ($X), with a 17% share of total exports. It was followed by Morocco, with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Portugal stood at -2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (-0.8% per year) and Morocco (-6.8% per year).

Export Prices by Country

In 2022, the average propyl and isopropyl alcohol export price amounted to $X per ton, dropping by -4.1% 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 +3.2% 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 when the average export price increased by 44%. The export price peaked at $X per ton in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Cuba ($X per ton), while the average price for exports to France ($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 Cuba (+6.4%), 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 Spain

In 2022, supplies from abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -26.7% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports saw a noticeable descent. The pace of growth appeared the most rapid in 2018 when imports increased by 33%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports fell to $X in 2022. Overall, total imports indicated slight growth from 2012 to 2022: its value 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, imports decreased by -12.6% against 2020 indices. The pace of growth appeared the most rapid in 2020 with an increase of 64%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Belgium (X tons), France (X tons) and the United States (X tons) were the main suppliers of propyl and isopropyl alcohol imports to Spain, together accounting for 86% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +36.7%), while purchases for the other leaders experienced a decline.

In value terms, the largest propyl and isopropyl alcohol suppliers to Spain were Belgium ($X), France ($X) and Germany ($X), together comprising 84% of total imports.

Belgium, with a CAGR of +39.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average propyl and isopropyl alcohol import price amounted to $X per ton, jumping by 21% against the previous year. Over the period under review, import price indicated a notable expansion from 2012 to 2022: its price increased at an average annual rate of +3.6% 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 import price increased by +71.0% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 57% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per ton) and the Netherlands ($X per ton), while the price for the United States ($X per ton) and France ($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 Netherlands (+4.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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