Overview of the Global Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

The global propyl and isopropyl alcohol market rose markedly to $X in 2022, surging by 6.4% against the previous year. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the global market remained at a lower figure.

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

In value terms, propyl and isopropyl alcohol production expanded remarkably to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 30%. As a result, production reached the peak level of $X. From 2021 to 2022, global production growth failed to regain momentum.

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

Exports

In 2022, shipments abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -10.6% to X tons, falling for the second year in a row after six years of growth. The total export volume increased at an average annual rate of +2.1% 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 2020 when exports increased by 25% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the global exports failed to regain momentum.

In value terms, propyl and isopropyl alcohol exports fell to $X in 2022. Over the period under review, total exports indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -15.8% against 2020 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 62% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the global exports remained at a lower figure.

Exports by Country

In 2022, the United States (X tons), distantly followed by China (X tons), South Africa (X tons), the Netherlands (X tons), South Korea (X tons), Taiwan (Chinese) (X tons), Japan (X tons), Canada (X tons) and Germany (X tons) were the major exporters of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), together making up 84% of total exports. Belgium (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by China (with a CAGR of +47.6%), while the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the largest propyl and isopropyl alcohol supplier worldwide, comprising 23% of global exports. The second position in the ranking was taken by China ($X), with a 10% share of global exports. It was followed by the Netherlands, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +2.2%. The remaining exporting countries recorded the following average annual rates of exports growth: China (+43.2% per year) and the Netherlands (-1.8% per year).

Export Prices by Country

In 2022, the average propyl and isopropyl alcohol export price amounted to $X per ton, increasing by 1.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average export price increased by 31% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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 Germany ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.0%), while the other global leaders experienced more modest paces of growth.

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

Imports

In 2022, purchases abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -6.2% to X tons, falling for the second year in a row after six years of growth. The total import volume increased at an average annual rate of +2.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by 23% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of global imports remained at a lower figure.

In value terms, propyl and isopropyl alcohol imports dropped to $X in 2022. Overall, total imports indicated perceptible growth from 2012 to 2022: its value 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 -13.2% against 2020 indices. The pace of growth was the most pronounced in 2020 when imports increased by 54%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of global imports failed to regain momentum.

Imports by Country

The purchases of the twelve major importers of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), namely India, the United States, China, Germany, Belgium, Mexico, Malaysia, Indonesia, Spain, Italy, Thailand and Turkey, represented more than half of total import. Singapore (X tons) held a minor share of total imports.

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

In value terms, the largest propyl and isopropyl alcohol importing markets worldwide were India ($X), the United States ($X) and China ($X), with a combined 22% share of global imports.

India, with a CAGR of +9.8%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average propyl and isopropyl alcohol import price amounted to $X per ton, with an increase of 3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 29%. Over the period under review, average import prices reached the maximum at $X per ton in 2014; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Italy ($X per ton) and Spain ($X per ton), while India ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+3.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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