Brazil: Propylene Glycol Market 2024

Propylene Glycol Market Size in Brazil

The Brazilian propylene glycol market shrank to $X in 2022, waning by -10.4% against the previous year. In general, consumption, however, recorded a mild increase. Propylene glycol consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Propylene Glycol Production in Brazil

In value terms, propylene glycol production dropped modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 34%. Propylene glycol production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Propylene Glycol Exports

Exports from Brazil

In 2022, the amount of propylene glycol (propane-1,2-diol) exported from Brazil skyrocketed to X tons, jumping by 75% compared with 2021 figures. In general, exports, however, saw a relatively flat trend pattern. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, propylene glycol exports soared to $X in 2022. Overall, exports showed modest growth. The pace of growth was the most pronounced in 2021 when exports increased by 167% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

Argentina (X tons), Belgium (X tons) and the United States (X tons) were the main destinations of propylene glycol exports from Brazil, together comprising 97% 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 Belgium (with a CAGR of +147.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for propylene glycol exported from Brazil were Argentina ($X), Belgium ($X) and the United States ($X), with a combined 95% share of total exports.

Belgium, with a CAGR of +165.7%, 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 propylene glycol export price stood at $X per ton in 2022, increasing by 24% against the previous year. Overall, the export price saw a tangible expansion. The most prominent rate of growth was recorded in 2021 an increase of 70%. The export price peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while the average price for exports to the United States ($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 South Korea (+22.6%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into Brazil

After three years of growth, purchases abroad of propylene glycol (propane-1,2-diol) decreased by -27.3% to X tons in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by 46% against the previous year. As a result, imports reached the peak of X tons, and then shrank markedly in the following year.

In value terms, propylene glycol imports contracted to $X in 2022. Overall, imports, however, enjoyed a perceptible expansion. The pace of growth was the most pronounced in 2021 when imports increased by 128%. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

In 2022, the United States (X tons) constituted the largest propylene glycol supplier to Brazil, accounting for a 63% share of total imports. Moreover, propylene glycol imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by South Korea (X tons), with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-1.3% per year) and South Korea (-6.6% per year).

In value terms, the United States ($X) constituted the largest supplier of propylene glycol (propane-1,2-diol) to Brazil, comprising 55% of total imports. The second position in the ranking was taken by China ($X), with a 27% share of total imports. It was followed by South Korea, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +5.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.3% per year) and South Korea (-1.3% per year).

Import Prices by Country

In 2022, the average propylene glycol import price amounted to $X per ton, picking up by 19% against the previous year. In general, import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.5% 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 +85.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 56%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :