India: Propene Market 2024

Propene Market Size in India

The Indian propene market expanded to $X in 2021, increasing by 3.4% against the previous year. Over the period under review, consumption, however, showed a mild shrinkage. Propene consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Propene Production in India

In value terms, propene production amounted to $X in 2021 estimated in export price. Overall, production, however, showed a pronounced setback. The growth pace was the most rapid in 2018 with an increase of 16% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Propene Exports

Exports from India

In 2021, shipments abroad of propene (propylene) decreased by -17.8% to X tons, falling for the third year in a row after seven years of growth. Overall, exports, however, saw a prominent increase. The pace of growth was the most pronounced in 2017 when exports increased by 130%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, propene exports shrank significantly to $X in 2021. Over the period under review, exports, however, showed a strong increase. The pace of growth was the most pronounced in 2018 with an increase of 141% against the previous year. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The Philippines (X tons), China (X tons) and Indonesia (X tons) were the main destinations of propene exports from India, together accounting for 100% 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 Indonesia (with a CAGR of +19.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for propene exported from India were the Philippines ($X), China ($X) and Indonesia ($X), with a combined 99% share of total exports.

Among the main countries of destination, the Philippines, with a CAGR of +16.7%, 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 average propene export price stood at $X per ton in 2021, reducing by -4% against the previous year. Over the period under review, the export price saw a deep downturn. The pace of growth appeared the most rapid in 2018 an increase of 14% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while the average price for exports to Indonesia ($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 the Philippines (-1.2%), while the prices for the other major destinations experienced a decline.

Propene Imports

Imports into India

In 2021, approx. X tons of propene (propylene) were imported into India; with an increase of 786% compared with 2020. Over the period under review, imports continue to indicate a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, propene imports surged to $X in 2021. Overall, imports enjoyed a significant increase. The most prominent rate of growth was recorded in 2019 with an increase of 338%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest propene supplier to India, accounting for a 61% share of total imports. Moreover, propene imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), threefold. Thailand (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +675.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+38.8% per year) and Thailand (+382,176.0% per year).

In value terms, Saudi Arabia ($X), Israel ($X) and the United Arab Emirates ($X) were the largest propene suppliers to India, with a combined 89% share of total imports. These countries were followed by Thailand, which accounted for a further 3.5%.

In terms of the main suppliers, Thailand, with a CAGR of +59,836.9%, recorded 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

The average propene import price stood at $X per ton in 2021, falling by -52.6% against the previous year. Over the period under review, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2018 when the average import price increased by 76% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Israel ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Israel (+1.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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