Belgium: 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 Belgium

The Belgian propyl and isopropyl alcohol market contracted remarkably to $X in 2022, waning by -24.3% against the previous year. In general, the total consumption indicated a mild increase from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +30.6% against 2020 indices. As a result, consumption attained the peak level of $X, and then dropped sharply in the following year.

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

In value terms, propyl and isopropyl alcohol production soared to $X in 2022 estimated in export price. In general, production, however, showed a remarkable increase. The pace of growth was the most pronounced in 2017 when the production volume increased by 156% against the previous year. Propyl and isopropyl alcohol production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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

Exports from Belgium

In 2022, overseas shipments of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -41.3% to X tons, falling for the second year in a row after two years of growth. In general, exports saw a pronounced decline. The growth pace was the most rapid in 2020 with an increase of 100% against the previous year. As a result, the exports reached 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 dropped markedly to $X in 2022. Overall, exports saw a slight curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 156%. 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

Spain (X tons), Germany (X tons) and the UK (X tons) were the main destinations of propyl and isopropyl alcohol exports from Belgium, together accounting for 58% of total exports. The Netherlands, Italy, Norway, France, Turkey, Russia, Poland, Ireland, Switzerland and Austria lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Norway (with a CAGR of +27.9%), while the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Germany ($X) and the UK ($X) appeared to be the largest markets for propyl and isopropyl alcohol exported from Belgium worldwide, with a combined 58% share of total exports. The Netherlands, Italy, Norway, France, Turkey, Poland, Russia, Ireland, Switzerland and Austria lagged somewhat behind, together comprising a further 33%.

Norway, with a CAGR of +33.2%, recorded the highest growth rate of 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 propyl and isopropyl alcohol export price stood at $X per ton in 2022, growing by 7.2% against the previous year. Overall, export price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.8% 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 export price increased by +50.9% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 31%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in years to come.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Norway ($X per ton) and Austria ($X per ton), while the average price for exports to Russia ($X per ton) and Turkey ($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 Norway (+4.1%), 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 Belgium

In 2022, approx. X tons of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) were imported into Belgium; falling by -39.9% compared with the previous year. Overall, imports continue to indicate a perceptible curtailment. The pace of growth appeared the most rapid in 2020 with an increase of 67% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports shrank remarkably to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 119%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of propyl and isopropyl alcohol to Belgium, accounting for a 61% share of total imports. Moreover, propyl and isopropyl alcohol imports from the United States exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. South Korea (X tons) ranked third in terms of total imports with an 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States amounted to -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+3.8% per year) and South Korea (+143.7% per year).

In value terms, the United States ($X) constituted the largest supplier of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) to Belgium, comprising 56% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 16% share of total imports. It was followed by South Korea, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+4.5% per year) and South Korea (+151.5% per year).

Import Prices by Country

The average propyl and isopropyl alcohol import price stood at $X per ton in 2022, growing by 24% against the previous year. Overall, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.3% 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 +61.3% against 2019 indices. The pace of growth was the most pronounced in 2017 an increase of 52% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and China ($X per ton), while the price for South Africa ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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