Denmark: Propylene Glycol Market 2024

Propylene Glycol Market Size in Denmark

The Danish propylene glycol market was estimated at $X in 2022, flattening at the previous year. In general, consumption, however, recorded prominent growth. Propylene glycol consumption peaked in 2022 and is likely to see steady growth in years to come.

Propylene Glycol Production in Denmark

In value terms, propylene glycol production declined rapidly to $X in 2022 estimated in export price. Overall, production continues to indicate a deep setback. The pace of growth appeared the most rapid in 2021 when the production volume increased by 130%. As a result, production reached the peak level of $X, and then contracted dramatically in the following year.

Propylene Glycol Exports

Exports from Denmark

In 2022, the amount of propylene glycol (propane-1,2-diol) exported from Denmark contracted markedly to X tons, which is down by -49.5% on the year before. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 60%. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, propylene glycol exports fell sharply to $X in 2022. Over the period under review, exports, however, posted tangible growth. The pace of growth appeared the most rapid in 2014 with an increase of 56% against the previous year. The exports peaked at $X in 2021, and then reduced sharply in the following year.

Exports by Country

Sweden (X tons) was the main destination for propylene glycol exports from Denmark, with a 48% share of total exports. Moreover, propylene glycol exports to Sweden exceeded the volume sent to the second major destination, the United States (X tons), threefold. The UK (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Sweden stood at -5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+54.8% per year) and the UK (+56.4% per year).

In value terms, Sweden ($X) remains the key foreign market for propylene glycol (propane-1,2-diol) exports from Denmark, comprising 48% of total exports. The second position in the ranking was held by the United States ($X), with a 20% share of total exports. It was followed by the UK, with a 9.3% share.

From 2012 to 2022, the average annual growth rate of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+43.1% per year) and the UK (+53.9% per year).

Export Prices by Country

In 2022, the average propylene glycol export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.5%. The most prominent rate of growth was recorded in 2021 an increase of 51%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Iceland ($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 Norway (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into Denmark

In 2022, overseas purchases of propylene glycol (propane-1,2-diol) decreased by -18.1% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2013 when imports increased by 44% against the previous year. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, propylene glycol imports amounted to $X in 2022. Overall, imports, however, continue to indicate a resilient increase. The growth pace was the most rapid in 2021 when imports increased by 68% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Sweden (X tons) were the main suppliers of propylene glycol imports to Denmark, with a combined 87% share of total imports. Belgium, the UK and Poland lagged somewhat behind, together comprising a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +53.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Sweden ($X) appeared to be the largest propylene glycol suppliers to Denmark, with a combined 87% share of total imports. Belgium, the UK and Poland lagged somewhat behind, together comprising a further 13%.

Among the main suppliers, Poland, with a CAGR of +58.9%, 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

In 2022, the average propylene glycol import price amounted to $X per ton, rising by 24% against the previous year. Overall, the import price saw a prominent expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 84% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Belgium ($X per ton) and the Netherlands ($X per ton), while the price for Sweden ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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