Northern America: Propene Market 2024

Propene Market Size in Northern America

The North American propene market fell to $X in 2021, waning by -9.5% against the previous year. Over the period under review, consumption continues to indicate a perceptible shrinkage. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Propene Production in Northern America

In value terms, propene production contracted to $X in 2021 estimated in export price. Over the period under review, production saw a pronounced curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 23% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Propene Exports

Exports in Northern America

In 2021, overseas shipments of propene (propylene) decreased by -19.8% to X tons, falling for the second year in a row after five years of growth. Overall, exports, however, continue to indicate a modest increase. The pace of growth was the most pronounced in 2015 when exports increased by 59% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, propene exports reached $X in 2021. Total exports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -16.6% against 2018 indices. The pace of growth was the most pronounced in 2017 when exports increased by 34%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, the United States (X tons) represented the key exporter of propene (propylene), comprising 85% of total exports. It was distantly followed by Canada (X tons), committing a 15% share of total exports.

The United States was also the fastest-growing in terms of the propene (propylene) exports, with a CAGR of +14.3% from 2012 to 2021. Canada (-14.7%) illustrated a downward trend over the same period. The United States (+56 p.p.) significantly strengthened its position in terms of the total exports, while Canada saw its share reduced by -56.2% from 2012 to 2021, respectively.

In value terms, the United States ($X) remains the largest propene supplier in Northern America, comprising 85% of total exports. The second position in the ranking was held by Canada ($X), with a 15% share of total exports.

In the United States, propene exports expanded at an average annual rate of +16.0% over the period from 2012-2021.

Export Prices by Country

The export price in Northern America stood at $X per ton in 2021, with an increase of 34% against the previous year. Export price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, propene export price increased by +78.3% against 2019 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the United States stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+2.2%).

Propene Imports

Imports in Northern America

In 2021, purchases abroad of propene (propylene) decreased by -45.8% to X tons, falling for the eighth year in a row after two years of growth. Over the period under review, imports saw a abrupt contraction. The growth pace was the most rapid in 2013 when imports increased by 21% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, propene imports contracted to $X in 2021. In general, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2018 when imports increased by 27% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The countries with the highest levels of propene imports in 2021 were the United States (X tons), together resulting at 99% of total import.

The United States was also the fastest-growing in terms of the propene (propylene) imports, with a CAGR of -13.1% from 2012 to 2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported propene (propylene) in Northern America.

In the United States, propene imports plunged by an average annual rate of -12.8% over the period from 2012-2021.

Import Prices by Country

In 2021, the import price in Northern America amounted to $X per ton, jumping by 61% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +0.3% per year.

Source: IndexBox Platform

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