Israel: Propylene Glycol Market 2024

Propylene Glycol Market Size in Israel

The Israeli propylene glycol market surged to $X in 2022, jumping by 15% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, showed a prominent expansion. Propylene glycol consumption peaked in 2022 and is likely to see gradual growth in years to come.

Propylene Glycol Exports

Exports from Israel

In 2022, after four years of growth, there was significant decline in shipments abroad of propylene glycol (propane-1,2-diol), when their volume decreased by -48.5% to X tons. Overall, exports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2019 when exports increased by 470%. The exports peaked at X tons in 2021, and then dropped remarkably in the following year.

In value terms, propylene glycol exports reduced sharply to $X in 2022. In general, exports, however, saw a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 353% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then contracted significantly in the following year.

Exports by Country

The United States (X tons), Hong Kong SAR (X tons) and the Netherlands (X tons) were the main destinations of propylene glycol exports from Israel, together accounting for 67% of total exports. Germany, Ethiopia, Turkey, Japan and the UK lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +172.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Hong Kong SAR ($X) and the Netherlands ($X) were the largest markets for propylene glycol exported from Israel worldwide, together accounting for 67% of total exports. Germany, Ethiopia, Turkey, Japan and the UK lagged somewhat behind, together comprising a further 27%.

Japan, with a CAGR of +324.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average propylene glycol export price amounted to $X per ton, growing by 27% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. The growth pace was the most rapid in 2021 an increase of 38%. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were the UK ($X per ton) and Ethiopia ($X per ton), while the average price for exports to Turkey ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Japan (+55.9%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into Israel

In 2022, after two years of growth, there was significant decline in supplies from abroad of propylene glycol (propane-1,2-diol), when their volume decreased by -11.2% to X tons. Overall, total imports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 32%. Over the period under review, imports attained the maximum at X tons in 2021, and then declined in the following year.

In value terms, propylene glycol imports skyrocketed to $X in 2022. Over the period under review, imports, however, continue to indicate a strong increase. The pace of growth was the most pronounced in 2021 when imports increased by 81%. 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), China (X tons) and South Korea (X tons) were the main suppliers of propylene glycol imports to Israel, with a combined 88% share of total imports. Hong Kong SAR, Spain, the Netherlands and the UK lagged somewhat behind, together accounting for a further 9.9%.

From 2012 to 2022, the biggest increases were recorded for Hong Kong SAR (with a CAGR of +28.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest propylene glycol suppliers to Israel were Germany ($X), China ($X) and South Korea ($X), together comprising 88% of total imports. Hong Kong SAR, Spain, the Netherlands and the UK lagged somewhat behind, together accounting for a further 9.9%.

Among the main suppliers, Hong Kong SAR, with a CAGR of +33.7%, recorded the highest growth rate of 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 propylene glycol import price stood at $X per ton in 2022, with an increase of 42% against the previous year. In general, the import price posted a resilient increase. The pace of growth was the most pronounced in 2021 when the average import price increased by 73%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the UK ($X per ton) and Hong Kong SAR ($X per ton), while the price for China ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+5.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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