China: 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 China

The Chinese propyl and isopropyl alcohol market reached $X in 2022, surging by 6.6% against the previous year. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

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

In value terms, propyl and isopropyl alcohol production rose sharply to $X in 2022 estimated in export price. Overall, production saw a resilient increase. The most prominent rate of growth was recorded in 2020 with an increase of 70% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

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

Exports from China

In 2022, propyl and isopropyl alcohol exports from China skyrocketed to X tons, rising by 34% compared with 2021. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 188%. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 191%. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

India (X tons) was the main destination for propyl and isopropyl alcohol exports from China, with a 41% share of total exports. Moreover, propyl and isopropyl alcohol exports to India exceeded the volume sent to the second major destination, Indonesia (X tons), threefold. The third position in this ranking was taken by Thailand (X tons), with a 9.6% share.

From 2012 to 2022, the average annual growth rate of volume to India stood at +120.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+178.8% per year) and Thailand (+50.6% per year).

In value terms, India ($X) remains the key foreign market for propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports from China, comprising 38% of total exports. The second position in the ranking was taken by Indonesia ($X), with a 15% share of total exports. It was followed by Thailand, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to +110.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Indonesia (+167.4% per year) and Thailand (+46.2% per year).

Export Prices by Country

The average propyl and isopropyl alcohol export price stood at $X per ton in 2022, waning by -6.8% against the previous year. Overall, the export price saw a noticeable descent. The most prominent rate of growth was recorded in 2020 an increase of 67%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Russia ($X per ton) and Venezuela ($X per ton), while the average price for exports to India ($X per ton) and Thailand ($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 Russia (+6.3%), while the prices for the other major destinations experienced a decline.

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

Imports into China

In 2022, after two years of decline, there was significant growth in overseas purchases of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), when their volume increased by 22% to X tons. Over the period under review, imports, however, continue to indicate a mild descent. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports expanded markedly to $X in 2022. In general, imports, however, showed a noticeable slump. The pace of growth was the most pronounced in 2018 when imports increased by 26%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United States (X tons) constituted the largest propyl and isopropyl alcohol supplier to China, with a 30% share of total imports. Moreover, propyl and isopropyl alcohol imports from the United States exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was held by South Africa (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at -1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-2.7% per year) and South Africa (+3.8% per year).

In value terms, the United States ($X), South Korea ($X) and South Africa ($X) were the largest propyl and isopropyl alcohol suppliers to China, together accounting for 44% of total imports.

South Africa, with a CAGR of +1.4%, 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 mixed trend patterns.

Import Prices by Country

In 2022, the average propyl and isopropyl alcohol import price amounted to $X per ton, falling by -6.3% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 18% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Japan ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+5.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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