Japan: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2024

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Japan

The Japanese propyl and isopropyl alcohol market surged to $X in 2022, growing by 19% against the previous year. Overall, consumption saw a slight increase. Propyl and isopropyl alcohol consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Japan

In value terms, propyl and isopropyl alcohol production rose rapidly to $X in 2022 estimated in export price. Over the period under review, the total production indicated tangible growth from 2012 to 2022: its value 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. Based on 2022 figures, production decreased by -7.9% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 81%. Propyl and isopropyl alcohol production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Exports from Japan

In 2022, the amount of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exported from Japan shrank to X tons, waning by -6.3% against 2021 figures. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +6.3% 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 2013 with an increase of 61% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, propyl and isopropyl alcohol exports declined to $X in 2022. In general, total exports indicated a notable expansion from 2012 to 2022: its value 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 pace of growth was the most pronounced in 2017 when exports increased by 61% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2021, and then reduced in the following year.

Exports by Country

Taiwan (Chinese) (X tons), Malaysia (X tons) and Singapore (X tons) were the main destinations of propyl and isopropyl alcohol exports from Japan, with a combined 52% share of total exports. The Philippines, Thailand, South Korea, Vietnam, Indonesia, China and the United States lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Vietnam (with a CAGR of +20.4%), while the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports from Japan, comprising 29% of total exports. The second position in the ranking was taken by Singapore ($X), with a 13% share of total exports. It was followed by Malaysia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Taiwan (Chinese) stood at +10.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (+3.4% per year) and Malaysia (+3.7% per year).

Export Prices by Country

In 2022, the average propyl and isopropyl alcohol export price amounted to $X per ton, with a decrease of -6.4% against the previous year. Over the period under review, the export price recorded a mild shrinkage. The growth pace was the most rapid in 2020 when the average export price increased by 33%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Indonesia ($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 China (+5.1%), while the prices for the other major destinations experienced a decline.

Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Imports into Japan

In 2022, the amount of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) imported into Japan shrank rapidly to X tons, dropping by -15.9% compared with the previous year's figure. Overall, imports recorded a drastic downturn. The most prominent rate of growth was recorded in 2021 when imports increased by 29%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports fell to $X in 2022. Over the period under review, imports showed a abrupt decrease. The pace of growth was the most pronounced in 2021 with an increase of 41% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United States (X tons), South Africa (X tons) and Taiwan (Chinese) (X tons) were the main suppliers of propyl and isopropyl alcohol imports to Japan, together comprising 85% of total imports.

From 2012 to 2022, the biggest increases were recorded for South Africa (with a CAGR of +8.4%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest propyl and isopropyl alcohol suppliers to Japan were the United States ($X), South Africa ($X) and Taiwan (Chinese) ($X), together accounting for 83% of total imports.

South Africa, with a CAGR of +6.2%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average propyl and isopropyl alcohol import price amounted to $X per ton, increasing by 2.6% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of 21%. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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