Eastern Europe: Propene Market 2024

Propene Market Size in Eastern Europe

The East European propene market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption, however, posted a mild expansion. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Propene Production in Eastern Europe

In value terms, propene production surged to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 29%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Propene Exports

Exports in Eastern Europe

In 2021, approx. X tons of propene (propylene) were exported in Eastern Europe; growing by 39% against 2020 figures. Over the period under review, exports recorded a prominent increase. The pace of growth was the most pronounced in 2015 when exports increased by 96%. The volume of export peaked in 2021 and is expected to retain growth in the near future.

In value terms, propene exports surged to $X in 2021. In general, exports enjoyed buoyant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Russia (X tons), distantly followed by Hungary (X tons), Ukraine (X tons), Latvia (X tons), Romania (X tons), Poland (X tons) and Lithuania (X tons) were the key exporters of propene (propylene), together achieving 96% of total exports.

From 2012 to 2021, the biggest increases were recorded for Lithuania (with a CAGR of +2,755.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest propene supplying countries in Eastern Europe were Russia ($X), Hungary ($X) and Ukraine ($X), together comprising 56% of total exports. Latvia, Romania, Poland and Lithuania lagged somewhat behind, together accounting for a further 40%.

Among the main exporting countries, Lithuania, with a CAGR of +1,551.2%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Europe stood at $X per ton in 2021, with an increase of 44% against the previous year. Over the period under review, the export price, however, showed a noticeable reduction. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Latvia (+19.1%), while the other leaders experienced mixed trends in the export price figures.

Propene Imports

Imports in Eastern Europe

In 2021, the amount of propene (propylene) imported in Eastern Europe soared to X tons, increasing by 31% against 2020 figures. Total imports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +39.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 38% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, propene imports skyrocketed to $X in 2021. Total imports indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Poland (X tons) was the main importer of propene (propylene), creating 46% of total imports. Slovakia (X tons) took a 20% share (based on physical terms) of total imports, which put it in second place, followed by Latvia (15%), the Czech Republic (8.6%) and Romania (8.5%). Belarus (X tons) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to propene imports into Poland stood at +4.8%. At the same time, Latvia (+180.3%), the Czech Republic (+9.6%), Slovakia (+7.3%), Belarus (+6.0%) and Romania (+4.7%) displayed positive paces of growth. Moreover, Latvia emerged as the fastest-growing importer imported in Eastern Europe, with a CAGR of +180.3% from 2012-2021. From 2012 to 2021, the share of Latvia increased by +15 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X) constitutes the largest market for imported propene (propylene) in Eastern Europe, comprising 49% of total imports. The second position in the ranking was held by Slovakia ($X), with a 23% share of total imports. It was followed by the Czech Republic, with a 9.7% share.

From 2012 to 2021, the average annual growth rate of value in Poland amounted to +2.1%. In the other countries, the average annual rates were as follows: Slovakia (+5.8% per year) and the Czech Republic (+7.9% per year).

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2021, surging by 52% against the previous year. Overall, the import price, however, recorded a perceptible descent. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Slovakia ($X per ton), while Latvia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (-1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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