Azerbaijan: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Azerbaijan

In 2022, the Azerbaijani polypropylene in primary forms market was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2019 with an increase of 9.4% against the previous year. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Polypropylene in Primary Forms in Azerbaijan

In value terms, polypropylene in primary forms production declined modestly to $X in 2022 estimated in export price. In general, the total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +4.1% 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 -3.7% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 36% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Exports of Polypropylene in Primary Forms

Exports from Azerbaijan

In 2022, shipments abroad of polypropylene in primary forms decreased by -16.9% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2018 when exports increased by 2,392%. The exports peaked at X tons in 2021, and then reduced dramatically in the following year.

In value terms, polypropylene in primary forms exports fell sharply to $X in 2022. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,885% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then contracted significantly in the following year.

Exports by Country

Russia (X tons), Turkey (X tons) and Kazakhstan (X tons) were the main destinations of polypropylene in primary forms exports from Azerbaijan, together accounting for 99% 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 Turkey (with a CAGR of +310.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polypropylene in primary forms exported from Azerbaijan were Russia ($X), Turkey ($X) and Kazakhstan ($X), with a combined 99% share of total exports.

Turkey, with a CAGR of +301.7%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polypropylene in primary forms export price stood at $X per ton in 2022, waning by -8.4% against the previous year. Over the period under review, export 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, polypropylene in primary forms export price increased by +55.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 70%. As a result, the export price reached the peak level of $X per ton, and then shrank in the following year.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Kazakhstan ($X per ton) and Ukraine ($X per ton), while the average price for exports to Belarus ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Ukraine (+11.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polypropylene in Primary Forms

Imports into Azerbaijan

In 2022, purchases abroad of polypropylene in primary forms increased by 19% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 67% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, polypropylene in primary forms imports surged to $X in 2022. Overall, imports, however, showed a mild decline. The most prominent rate of growth was recorded in 2017 when imports increased by 48%. Imports peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

South Korea (X tons), Saudi Arabia (X tons) and Iran (X tons) were the main suppliers of polypropylene in primary forms imports to Azerbaijan, together comprising 89% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Korea (with a CAGR of +28.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Saudi Arabia ($X) and Iran ($X) constituted the largest polypropylene in primary forms suppliers to Azerbaijan, together comprising 90% of total imports.

South Korea, with a CAGR of +38.3%, recorded 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 more modest paces of growth.

Import Prices by Country

In 2022, the average polypropylene in primary forms import price amounted to $X per ton, rising by 2% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 36% against the previous year. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from South Korea ($X per ton) and Turkey ($X per ton), while the price for Turkmenistan ($X per ton) and Iran ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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