Malaysia: Propene Market 2024

Propene Market Size in Malaysia

In 2021, the Malaysian propene market increased by 8.3% to $X, rising for the third year in a row after two years of decline. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Propene Production in Malaysia

In value terms, propene production declined to $X in 2021 estimated in export price. In general, production continues to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by 16% against the previous year. Propene production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Propene Exports

Exports from Malaysia

In 2021, exports of propene (propylene) from Malaysia shrank significantly to X tons, declining by -71.8% compared with the year before. In general, exports recorded a abrupt decline. The most prominent rate of growth was recorded in 2020 with an increase of 219% against the previous year. As a result, the exports attained the peak of X tons, and then plummeted in the following year.

In value terms, propene exports declined sharply to $X in 2021. Overall, exports saw a abrupt decrease. The most prominent rate of growth was recorded in 2020 with an increase of 205% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for propene exports from Malaysia, with a 45% share of total exports. Moreover, propene exports to Indonesia exceeded the volume sent to the second major destination, Singapore (X tons), twofold. The third position in this ranking was taken by China (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Indonesia amounted to -9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-0.1% per year) and China (-0.6% per year).

In value terms, Indonesia ($X) remains the key foreign market for propene (propylene) exports from Malaysia, comprising 46% of total exports. The second position in the ranking was taken by Singapore ($X), with an 18% share of total exports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia amounted to -12.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (-3.1% per year) and China (-5.1% per year).

Export Prices by Country

The average propene export price stood at $X per ton in 2021, rising by 17% against the previous year. Over the period under review, the export price, however, recorded a pronounced descent. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Belgium ($X per ton) and Vietnam ($X per ton), while the average price for exports to China ($X per ton) and Taiwan (Chinese) ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+39.6%), while the prices for the other major destinations experienced a decline.

Propene Imports

Imports into Malaysia

For the third consecutive year, Malaysia recorded growth in supplies from abroad of propene (propylene), which increased by 31% to X tons in 2021. Over the period under review, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 213% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2017; however, from 2018 to 2021, imports failed to regain momentum.

In value terms, propene imports skyrocketed to $X in 2021. Overall, imports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 163%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Saudi Arabia (X tons), Singapore (X tons) and Thailand (X tons) were the main suppliers of propene imports to Malaysia, together accounting for 65% of total imports. These countries were followed by the Philippines, South Korea, the United Arab Emirates and Vietnam, which together accounted for a further 34%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +206.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest propene suppliers to Malaysia were Saudi Arabia ($X), Singapore ($X) and Thailand ($X), together comprising 67% of total imports. These countries were followed by the Philippines, the United Arab Emirates, South Korea and Vietnam, which together accounted for a further 31%.

South Korea, with a CAGR of +163.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average propene import price amounted to $X per ton, rising by 30% against the previous year. In general, the import price, however, saw a mild downturn. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Singapore ($X per ton) and Saudi Arabia ($X per ton), while the price for South Korea ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+18.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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