Luxembourg: Propylene Glycol Market 2024

Propylene Glycol Market Size in Luxembourg

In 2022, after two years of growth, there was significant decline in the Luxembourg propylene glycol market, when its value decreased by -26% to $X. Over the period under review, consumption, however, posted buoyant growth. Propylene glycol consumption peaked at $X in 2021, and then contracted rapidly in the following year.

Propylene Glycol Exports

Exports from Luxembourg

In 2022, the amount of propylene glycol (propane-1,2-diol) exported from Luxembourg skyrocketed to X tons, increasing by 248% compared with 2021. Overall, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 3,224%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, propylene glycol exports skyrocketed to $X in 2022. In general, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 3,123%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Hungary (X tons), Belgium (X tons) and Germany (X kg) were the main destinations of propylene glycol exports from Luxembourg, with a combined 100% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +49.3%), while the other leaders experienced mixed trend patterns.

In value terms, Hungary ($X), Belgium ($X) and Germany ($X) were the largest markets for propylene glycol exported from Luxembourg worldwide, together comprising 99% of total exports.

In terms of the main countries of destination, Belgium, with a CAGR of +46.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average propylene glycol export price stood at $X per ton in 2022, with a decrease of -20.9% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of 114%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Belgium ($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 Hungary (+11.5%), while the prices for the other major destinations experienced mixed trend patterns.

Propylene Glycol Imports

Imports into Luxembourg

In 2022, the amount of propylene glycol (propane-1,2-diol) imported into Luxembourg shrank sharply to X tons, declining by -31.1% compared with 2021. Over the period under review, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 91%. Imports peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, propylene glycol imports shrank sharply to $X in 2022. Overall, imports, however, posted strong growth. The pace of growth appeared the most rapid in 2014 when imports increased by 142% against the previous year. Over the period under review, imports reached the maximum at $X in 2021, and then shrank sharply in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of propylene glycol to Luxembourg, with a 66% share of total imports. Moreover, propylene glycol imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +42.1%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+66.4% per year) and Belgium (-7.0% per year).

In value terms, Germany ($X) constituted the largest supplier of propylene glycol (propane-1,2-diol) to Luxembourg, comprising 60% of total imports. The second position in the ranking was held by Belgium ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +32.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-2.8% per year) and France (+66.8% per year).

Import Prices by Country

The average propylene glycol import price stood at $X per ton in 2022, increasing by 18% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2022: its price 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, propylene glycol import price increased by +85.4% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of 43%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+4.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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