Lithuania: 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 Lithuania

In 2022, the Lithuanian propyl and isopropyl alcohol market decreased by -2.2% to $X, falling for the fifth year in a row after two years of growth. In general, consumption continues to indicate a abrupt descent. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

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

In value terms, propyl and isopropyl alcohol production declined to $X in 2022 estimated in export price. In general, production faced a deep reduction. The pace of growth was the most pronounced in 2017 when the production volume increased by 23%. Propyl and isopropyl alcohol production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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

Exports from Lithuania

In 2022, exports of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) from Lithuania skyrocketed to X tons, growing by 22% compared with 2021. Over the period under review, exports showed strong growth. The pace of growth appeared the most rapid in 2018 when exports increased by 77% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, propyl and isopropyl alcohol exports skyrocketed to $X in 2022. Overall, exports saw a resilient increase. The growth pace was the most rapid in 2017 with an increase of 102%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Belarus (X tons) was the main destination for propyl and isopropyl alcohol exports from Lithuania, with a 76% share of total exports. Moreover, propyl and isopropyl alcohol exports to Belarus exceeded the volume sent to the second major destination, Latvia (X tons), eightfold. Finland (X tons) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Belarus amounted to +19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+11.6% per year) and Finland (+25.5% per year).

In value terms, Belarus ($X) remains the key foreign market for propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports from Lithuania, comprising 72% of total exports. The second position in the ranking was taken by Latvia ($X), with a 10% share of total exports. It was followed by Finland, with a 5.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Belarus totaled +19.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Latvia (+13.1% per year) and Finland (+28.0% per year).

Export Prices by Country

In 2022, the average propyl and isopropyl alcohol export price amounted to $X per ton, growing by 14% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 98% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Finland ($X per ton) and Estonia ($X per ton), while the average price for exports to Poland ($X per ton) and Belarus ($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 the Czech Republic (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

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

Imports into Lithuania

For the sixth year in a row, Lithuania recorded growth in supplies from abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), which increased by 17% to X tons in 2022. Overall, imports showed a prominent expansion. The pace of growth appeared the most rapid in 2018 with an increase of 52%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, propyl and isopropyl alcohol imports skyrocketed to $X in 2022. Over the period under review, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by 86%. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in the near future.

Imports by Country

In 2022, Belgium (X tons) constituted the largest propyl and isopropyl alcohol supplier to Lithuania, with a 70% share of total imports. Moreover, propyl and isopropyl alcohol imports from Belgium exceeded the figures recorded by the second-largest supplier, Russia (X tons), eightfold. The Netherlands (X tons) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium stood at +173.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+93.9% per year) and the Netherlands (-2.6% per year).

In value terms, Belgium ($X) constituted the largest supplier of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) to Lithuania, comprising 62% of total imports. The second position in the ranking was held by Russia ($X), with a 10% share of total imports. It was followed by Germany, with an 8.9% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium stood at +163.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+84.2% per year) and Germany (+5.5% per year).

Import Prices by Country

In 2022, the average propyl and isopropyl alcohol import price amounted to $X per ton, with an increase of 10% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by 48% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform