Australia and Oceania: Propylene Glycol Market 2024

Propylene Glycol Market Size in Australia and Oceania

In 2022, the propylene glycol market in Australia and Oceania increased by 9.5% to $X, rising for the fifth year in a row after two years of decline. Over the period under review, consumption, however, saw buoyant growth. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in the immediate term.

Propylene Glycol Production in Australia and Oceania

In value terms, propylene glycol production reduced slightly to $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.1% against 2019 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 23% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Propylene Glycol Exports

Exports in Australia and Oceania

In 2022, the amount of propylene glycol (propane-1,2-diol) exported in Australia and Oceania fell markedly to X tons, which is down by -22% compared with 2021. Over the period under review, exports recorded a dramatic descent. The most prominent rate of growth was recorded in 2015 with an increase of 55% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, propylene glycol exports shrank to $X in 2022. Overall, exports faced a sharp decrease. The pace of growth was the most pronounced in 2020 when exports increased by 25% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

New Zealand was the largest exporter of propylene glycol (propane-1,2-diol) in Australia and Oceania, with the volume of exports amounting to X tons, which was approx. 76% of total exports in 2022. It was distantly followed by Australia (X tons), achieving a 24% share of total exports.

New Zealand was also the fastest-growing in terms of the propylene glycol (propane-1,2-diol) exports, with a CAGR of +5.3% from 2012 to 2022. Australia (-36.9%) illustrated a downward trend over the same period. While the share of New Zealand (+74 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Australia (-74.3 p.p.) displayed negative dynamics.

In value terms, New Zealand ($X) emerged as the largest propylene glycol supplier in Australia and Oceania, comprising 77% of total exports. The second position in the ranking was taken by Australia ($X), with a 23% share of total exports.

In New Zealand, propylene glycol exports expanded at an average annual rate of +6.5% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in Australia and Oceania amounted to $X per ton, with an increase of 11% against the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2021 an increase of 58% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+5.8%).

Propylene Glycol Imports

Imports in Australia and Oceania

After four years of growth, overseas purchases of propylene glycol (propane-1,2-diol) decreased by -8.3% to X tons in 2022. Overall, imports, however, saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 51%. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, propylene glycol imports surged to $X in 2022. Over the period under review, imports, however, saw strong growth. The pace of growth appeared the most rapid in 2021 when imports increased by 74%. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

Australia prevails in imports structure, resulting at X tons, which was near 90% of total imports in 2022. It was distantly followed by New Zealand (X tons), committing a 9.9% share of total imports.

Australia was also the fastest-growing in terms of the propylene glycol (propane-1,2-diol) imports, with a CAGR of +14.0% from 2012 to 2022. New Zealand (-1.5%) illustrated a downward trend over the same period. While the share of Australia (+23 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of New Zealand (-22.2 p.p.) displayed negative dynamics.

In value terms, Australia ($X) constitutes the largest market for imported propylene glycol (propane-1,2-diol) in Australia and Oceania, comprising 86% of total imports. The second position in the ranking was taken by New Zealand ($X), with a 14% share of total imports.

In Australia, propylene glycol imports increased at an average annual rate of +17.4% over the period from 2012-2022.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, increasing by 28% against the previous year. Import price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.8% 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 +95.8% against 2020 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by 53% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.2%).

Source: IndexBox Platform

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