Eastern Europe: Propylene Glycol Market 2024

Propylene Glycol Market Size in Eastern Europe

The East European propylene glycol market dropped remarkably to $X in 2022, which is down by -27.6% against the previous year. The total consumption indicated modest growth from 2012 to 2022: its value increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then declined markedly in the following year.

Propylene Glycol Production in Eastern Europe

In value terms, propylene glycol production declined to $X in 2022 estimated in export price. The total production indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.7% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 29% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Propylene Glycol Exports

Exports in Eastern Europe

In 2022, overseas shipments of propylene glycol (propane-1,2-diol) increased by 61% to X tons, rising for the second year in a row after two years of decline. Overall, exports enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 156% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, propylene glycol exports surged to $X in 2022. In general, exports posted a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 286% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Poland was the main exporting country with an export of about X tons, which finished at 60% of total exports. It was distantly followed by Romania (X tons), generating a 30% share of total exports. The following exporters - Russia (X tons), Lithuania (X tons) and the Czech Republic (X tons) - together made up 7.8% of total exports.

From 2012 to 2022, average annual rates of growth with regard to propylene glycol exports from Poland stood at +27.6%. At the same time, Lithuania (+30.8%), Russia (+11.7%), Romania (+6.9%) and the Czech Republic (+6.5%) displayed positive paces of growth. Moreover, Lithuania emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of +30.8% from 2012-2022. While the share of Poland (+38 p.p.) and Lithuania (+1.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Russia (-1.6 p.p.), the Czech Republic (-2.6 p.p.) and Romania (-35.8 p.p.) displayed negative dynamics.

In value terms, Poland ($X) emerged as the largest propylene glycol supplier in Eastern Europe, comprising 61% of total exports. The second position in the ranking was held by Romania ($X), with a 28% share of total exports. It was followed by Russia, with a 3.1% share.

In Poland, propylene glycol exports expanded at an average annual rate of +33.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Romania (+14.3% per year) and Russia (+14.1% per year).

Export Prices by Country

In 2022, the export price in Eastern Europe amounted to $X per ton, surging by 29% against the previous year. Export price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, propylene glycol export price increased by +95.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 51%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

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 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+7.0%), while the other leaders experienced more modest paces of growth.

Propylene Glycol Imports

Imports in Eastern Europe

In 2022, purchases abroad of propylene glycol (propane-1,2-diol) decreased by -37.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated a noticeable increase from 2012 to 2022: its volume 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. The pace of growth was the most pronounced in 2021 with an increase of 48%. As a result, imports reached the peak of X tons, and then fell dramatically in the following year.

In value terms, propylene glycol imports fell remarkably to $X in 2022. In general, imports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of 123%. As a result, imports reached the peak of $X, and then reduced remarkably in the following year.

Imports by Country

Russia (X tons) and Poland (X tons) dominates imports structure, together constituting 74% of total imports. The Czech Republic (X tons) ranks next in terms of the total imports with a 6.5% share, followed by Hungary (4.6%). The following importers - Ukraine (X tons), Bulgaria (X tons) and Belarus (X tons) - each resulted at an 8.6% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Belarus (with a CAGR of +9.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Russia ($X) and the Czech Republic ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 79% share of total imports.

Among the main importing countries, the Czech Republic, with a CAGR of +12.0%, 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 import price in Eastern Europe amounted to $X per ton, surging by 30% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +3.2% 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 +96.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 51% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hungary ($X per ton), while Belarus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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