Italy: Propylene Glycol Market 2024

Propylene Glycol Market Size in Italy

The Italian propylene glycol market declined remarkably to $X in 2022, with a decrease of -21% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then reduced rapidly in the following year.

Propylene Glycol Production in Italy

In value terms, propylene glycol production dropped to $X in 2022 estimated in export price. In general, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +18.6% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 37%. Propylene glycol production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Propylene Glycol Exports

Exports from Italy

Propylene glycol exports from Italy fell notably to X tons in 2022, declining by -33.4% on 2021. Over the period under review, exports continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 71% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, propylene glycol exports contracted to $X in 2022. Overall, exports, however, showed a notable expansion. The growth pace was the most rapid in 2021 with an increase of 148%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X tons), Slovenia (X tons) and Spain (X tons) were the main destinations of propylene glycol exports from Italy, together accounting for 59% of total exports. Croatia, Poland, Morocco, Algeria and Hungary lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of +65.5%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Slovenia ($X) and Spain ($X) appeared to be the largest markets for propylene glycol exported from Italy worldwide, together comprising 54% of total exports. Croatia, Poland, Morocco, Algeria and Hungary lagged somewhat behind, together accounting for a further 30%.

Poland, with a CAGR of +59.4%, recorded the highest rates of growth with regard to the value of exports, in terms of 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, rising by 33% against the previous year. Overall, the export price posted strong growth. The pace of growth appeared the most rapid in 2021 an increase of 52%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Algeria ($X per ton), while the average price for exports to Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Algeria (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into Italy

In 2022, imports of propylene glycol (propane-1,2-diol) into Italy reduced remarkably to X tons, with a decrease of -29.8% on the previous year's figure. Over the period under review, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 37% against the previous year. As a result, imports reached the peak of X tons, and then shrank rapidly in the following year.

In value terms, propylene glycol imports shrank to $X in 2022. In general, imports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2021 with an increase of 129% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

Spain (X tons), France (X tons) and Germany (X tons) were the main suppliers of propylene glycol imports to Italy, together comprising 70% of total imports. Belgium, China, Poland, South Korea and the Netherlands lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +272.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), France ($X) and Germany ($X) appeared to be the largest propylene glycol suppliers to Italy, together accounting for 73% of total imports. Belgium, Poland, China, South Korea and the Netherlands lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, Poland, with a CAGR of +270.7%, saw 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

In 2022, the average propylene glycol import price amounted to $X per ton, jumping by 29% against the previous year. In general, import price indicated a buoyant expansion from 2012 to 2022: its price increased at an average annual rate of +5.0% 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 +116.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 68% against the previous year. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and Poland ($X per ton), while the price for Belgium ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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