Europe: Propene Market 2024

Propene Market Size in Europe

After two years of decline, the Europe propene market increased by 0.8% to $X in 2021. Overall, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Propene Production in Europe

In value terms, propene production rose markedly to $X in 2021 estimated in export price. Over the period under review, production saw a mild descent. The most prominent rate of growth was recorded in 2018 when the production volume increased by 22%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Propene Exports

Exports in Europe

In 2021, shipments abroad of propene (propylene) increased by 17% to X tons, rising for the seventh consecutive year after two years of decline. The total export volume increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, propene exports soared to $X in 2021. Total exports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, the Netherlands (X tons), distantly followed by Germany (X tons), Spain (X tons), Italy (X tons), Belgium (X tons), Portugal (X tons) and Russia (X tons) represented the major exporters of propene (propylene), together mixing up 69% of total exports. The UK (X tons), France (X tons), Hungary (X tons), Ukraine (X tons), Serbia (X tons) and Norway (X tons) held a minor share of total exports.

From 2012 to 2021, average annual rates of growth with regard to propene exports from the Netherlands stood at +3.5%. At the same time, Serbia (+32.4%), Russia (+21.3%), Portugal (+8.4%), Germany (+7.4%), Ukraine (+6.6%), Hungary (+6.1%) and Norway (+2.5%) displayed positive paces of growth. Moreover, Serbia emerged as the fastest-growing exporter exported in Europe, with a CAGR of +32.4% from 2012-2021. Italy, Belgium and Spain experienced a relatively flat trend pattern. By contrast, France (-2.7%) and the UK (-10.7%) illustrated a downward trend over the same period. Russia (+3.9 p.p.), Germany (+3.3 p.p.), Serbia (+2.6 p.p.) and Portugal (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Italy, Belgium, France, Spain and the UK saw its share reduced by -2.2%, -2.3%, -2.6%, -3% and -11.8% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest propene supplying countries in Europe were the Netherlands ($X), Germany ($X) and Spain ($X), together accounting for 44% of total exports. These countries were followed by Italy, Belgium, Portugal, the UK, Russia, France, Hungary, Ukraine, Serbia and Norway, which together accounted for a further 44%.

In terms of the main exporting countries, Serbia, with a CAGR of +31.2%, recorded the highest rates of growth with regard to 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

In 2021, the export price in Europe amounted to $X per ton, jumping by 50% against the previous year. Over the period under review, the export price, however, saw a slight setback. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Portugal ($X per ton) and Norway ($X per ton), while Russia ($X per ton) and Serbia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-0.1%), while the other leaders experienced a decline in the export price figures.

Propene Imports

Imports in Europe

In 2021, approx. X tons of propene (propylene) were imported in Europe; jumping by 16% against 2020. The total import volume increased at an average annual rate of +2.1% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, propene imports soared to $X in 2021. In general, imports recorded a relatively flat trend pattern. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

The purchases of the three major importers of propene (propylene), namely Germany, the Netherlands and Belgium, represented more than half of total import. It was distantly followed by France (X tons) and Poland (X tons), together mixing up a 19% share of total imports. The following importers - Slovakia (X tons) and Spain (X tons) - each accounted for a 6.2% share of total imports.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +12.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the Netherlands ($X) and Belgium ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 64% of total imports. France, Poland, Spain and Slovakia lagged somewhat behind, together comprising a further 25%.

In terms of the main importing countries, France, with a CAGR of +11.1%, 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 2021, the import price in Europe amounted to $X per ton, jumping by 47% against the previous year. Overall, the import price, however, showed a mild decline. The level of import peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Spain ($X per ton) and Belgium ($X per ton), while Poland ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (-0.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform