Belgium: Propylene Glycol Market 2024

Propylene Glycol Market Size in Belgium

In 2022, the Belgian propylene glycol market increased by 5.4% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption, however, saw a remarkable increase. Propylene glycol consumption peaked in 2022 and is likely to continue growth in the near future.

Propylene Glycol Production in Belgium

In value terms, propylene glycol production fell markedly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 when the production volume increased by 174% against the previous year. As a result, production attained the peak level of $X, and then dropped rapidly in the following year.

Propylene Glycol Exports

Exports from Belgium

In 2022, shipments abroad of propylene glycol (propane-1,2-diol) decreased by -56% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, exports recorded a noticeable contraction. The most prominent rate of growth was recorded in 2020 with an increase of 51%. Over the period under review, the exports reached the maximum at X tons in 2021, and then contracted rapidly in the following year.

In value terms, propylene glycol exports declined significantly to $X in 2022. Over the period under review, exports, however, continue to indicate modest growth. The pace of growth was the most pronounced in 2021 when exports increased by 94%. As a result, the exports reached the peak of $X, and then shrank rapidly in the following year.

Exports by Country

France (X tons), the United States (X tons) and the UK (X tons) were the main destinations of propylene glycol exports from Belgium, together comprising 45% of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +70.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X) remains the key foreign market for propylene glycol (propane-1,2-diol) exports from Belgium, comprising 24% of total exports. The second position in the ranking was held by the United States ($X), with an 11% share of total exports. It was followed by Germany, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France amounted to +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+71.4% per year) and Germany (-3.3% per year).

Export Prices by Country

The average propylene glycol export price stood at $X per ton in 2022, with an increase of 30% against the previous year. In general, the export price enjoyed strong growth. The growth pace was the most rapid in 2021 an increase of 70%. The export price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into Belgium

In 2022, purchases abroad of propylene glycol (propane-1,2-diol) decreased by -44.6% to X tons for the first time since 2015, thus ending a six-year rising trend. Overall, imports continue to indicate a mild decline. The most prominent rate of growth was recorded in 2019 with an increase of 48% against the previous year. Imports peaked at X tons in 2021, and then plummeted in the following year.

In value terms, propylene glycol imports fell markedly to $X in 2022. Over the period under review, imports, however, recorded a perceptible increase. The most prominent rate of growth was recorded in 2021 when imports increased by 102%. As a result, imports reached the peak of $X, and then dropped rapidly in the following year.

Imports by Country

Germany (X tons), the Netherlands (X tons) and South Korea (X tons) were the main suppliers of propylene glycol imports to Belgium, with a combined 61% share of total imports. Ireland, France, Thailand, Spain, Saudi Arabia and the United States lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +211.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and South Korea ($X) constituted the largest propylene glycol suppliers to Belgium, with a combined 66% share of total imports. France, Ireland, Spain, Thailand, Saudi Arabia and the United States lagged somewhat behind, together comprising a further 23%.

In terms of the main suppliers, Ireland, with a CAGR of +208.0%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average propylene glycol import price stood at $X per ton in 2022, picking up by 25% against the previous year. Over the period under review, the import price saw a noticeable expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 72%. The import price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was France ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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