Northern America: Propylene Glycol Market 2024

Propylene Glycol Market Size in Northern America

The North American propylene glycol market contracted slightly to $X in 2022, dropping by -2.2% against the previous year. Overall, consumption, however, enjoyed a buoyant expansion. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Propylene Glycol Production in Northern America

In value terms, propylene glycol production fell to $X in 2022 estimated in export price. Overall, production, however, posted a strong increase. The growth pace was the most rapid in 2018 when the production volume increased by 41% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Propylene Glycol Exports

Exports in Northern America

In 2022, overseas shipments of propylene glycol (propane-1,2-diol) decreased by -8.1% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 9.6% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, propylene glycol exports amounted to $X in 2022. In general, exports continue to indicate a mild contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 64%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) represented roughly 99% of total exports in 2022.

The United States was also the fastest-growing in terms of the propylene glycol (propane-1,2-diol) exports, with a CAGR of -5.5% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) also remains the largest propylene glycol supplier in Northern America.

From 2012 to 2022, the average annual growth rate of value in the United States stood at -1.9%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, surging by 14% against the previous year. Export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, propylene glycol export price increased by +91.7% against 2020 indices. The pace of growth appeared the most rapid in 2021 an increase of 68%. Over the period under review, the export prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to +3.8% per year.

Propylene Glycol Imports

Imports in Northern America

Propylene glycol imports totaled X tons in 2022, growing by 11% compared with 2021 figures. Total imports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +75.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 58%. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, propylene glycol imports surged to $X in 2022. In general, imports saw a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 176% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The countries with the highest levels of propylene glycol imports in 2022 were the United States (X tons) and Canada (X tons), together resulting at 99.9% of total import.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +6.2%).

In value terms, the largest propylene glycol importing markets in Northern America were the United States ($X) and Canada ($X).

Among the main importing countries, the United States, with a CAGR of +11.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, with an increase of 23% against the previous year. Import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% 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 +114.2% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 74%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+5.9%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :