Asia-Pacific: Propylene Oxide Market 2024

Propylene Oxide Market Size in Asia-Pacific

The Asia-Pacific propylene oxide market surged to $X in 2021, increasing by 18% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Propylene Oxide Production in Asia-Pacific

In value terms, propylene oxide production rose to $X in 2021 estimated in export price. Overall, production, however, saw a noticeable decline. The pace of growth appeared the most rapid in 2019 when the production volume increased by 16% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Propylene Oxide Exports

Exports in Asia-Pacific

In 2021, the amount of methyloxirane (propylene oxide) exported in Asia-Pacific rose notably to X tons, with an increase of 10% compared with the previous year's figure. Overall, exports, however, continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2019 when exports increased by 27%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, propylene oxide exports skyrocketed to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt contraction. Over the period under review, the exports attained the maximum at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the main exporting country with an export of around X tons, which resulted at 49% of total exports. South Korea (X tons) took a 31% share (based on physical terms) of total exports, which put it in second place, followed by Singapore (18%).

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by South Korea (with a CAGR of +37.5%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest propylene oxide supplying countries in Asia-Pacific were Thailand ($X), South Korea ($X) and Singapore ($X), with a combined 98% share of total exports.

South Korea, with a CAGR of +38.7%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in Asia-Pacific amounted to $X per ton, jumping by 57% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. 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 origin: amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.9%), while the other leaders experienced a decline in the export price figures.

Propylene Oxide Imports

Imports in Asia-Pacific

In 2021, purchases abroad of methyloxirane (propylene oxide) decreased by -4.2% to X tons, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a pronounced slump. The growth pace was the most rapid in 2019 with an increase of 23% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, propylene oxide imports surged to $X in 2021. In general, imports saw a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China represented the largest importing country with an import of around X tons, which recorded 65% of total imports. Taiwan (Chinese) (X tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (9.3%). The following importers - Indonesia (X tons) and India (X tons) - each amounted to a 6.9% share of total imports.

Imports into China decreased at an average annual rate of -1.9% from 2012 to 2021. At the same time, India (+8.1%), Taiwan (Chinese) (+2.4%) and Indonesia (+1.5%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +8.1% from 2012-2021. By contrast, South Korea (-12.5%) illustrated a downward trend over the same period. While the share of China (+6.8 p.p.), Taiwan (Chinese) (+6.7 p.p.) and India (+2.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of South Korea (-13.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported methyloxirane (propylene oxide) in Asia-Pacific, comprising 67% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 17% share of total imports. It was followed by South Korea, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China was relatively modest. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (+4.7% per year) and South Korea (-13.3% per year).

Import Prices by Country

In 2021, the import price in Asia-Pacific amounted to $X per ton, rising by 59% against the previous year. Import price indicated a noticeable expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, propylene oxide import price increased by +63.7% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Indonesia ($X per ton) and India ($X per ton), while South Korea ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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