China: Propene Market 2024

Propene Market Size in China

In 2021, after four years of growth, there was decline in the Chinese propene market, when its value decreased by -3.7% to $X. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Propene Production in China

In value terms, propene production shrank slightly to $X in 2021 estimated in export price. Overall, production continues to indicate a slight slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 24%. As a result, production attained the peak level of $X. From 2015 to 2021, production growth remained at a somewhat lower figure.

Propene Exports

Exports from China

For the sixth year in a row, China recorded growth in shipments abroad of propene (propylene), which increased by 640% to X tons in 2021. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 2,507% against the previous year. The exports peaked in 2021 and are likely to continue growth in years to come.

In value terms, propene exports skyrocketed to $X in 2021. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 1,275%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Aruba (X tons), Mexico (X tons) and South Korea (X tons) were the main destinations of propene exports from China, with a combined 79% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +3,640.0%), while the other leaders experienced more modest paces of growth.

In value terms, Aruba ($X), Mexico ($X) and Colombia ($X) constituted the largest markets for propene exported from China worldwide, together comprising 76% of total exports.

Colombia, with a CAGR of +2,227.8%, saw 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 propene export price stood at $X per ton in 2021, rising by 1.8% against the previous year. Over the period under review, the export price, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2019 an increase of 40%. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-3.0%), while the prices for the other major destinations experienced a decline.

Propene Imports

Imports into China

Propene imports into China shrank to X tons in 2021, remaining relatively unchanged against 2020 figures. The total import volume increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of 23% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, propene imports surged to $X in 2021. Over the period under review, imports recorded a slight decline. The pace of growth appeared the most rapid in 2017 when imports increased by 30%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of propene to China, accounting for a 57% share of total imports. Moreover, propene imports from South Korea exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was taken by Japan (X tons), with an 18% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Korea amounted to +2.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+2.9% per year) and Japan (-0.2% per year).

In value terms, South Korea ($X) constituted the largest supplier of propene (propylene) to China, comprising 57% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 20% share of total imports. It was followed by Japan, with a 17% share.

From 2012 to 2021, the average annual growth rate of value from South Korea was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (-0.3% per year) and Japan (-3.2% per year).

Import Prices by Country

The average propene import price stood at $X per ton in 2021, picking up by 29% against the previous year. Overall, the import price, however, saw a perceptible descent. The pace of growth was the most pronounced in 2017 an increase of 33% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were South Korea ($X per ton) and the Philippines ($X per ton), while the price for Japan ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (-2.9%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :