Peru: Propylene Glycol Market 2024

Propylene Glycol Market Size in Peru

The Peruvian propylene glycol market dropped significantly to $X in 2022, reducing by -28.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then fell markedly in the following year.

Propylene Glycol Exports

Exports from Peru

In 2022, approx. X tons of propylene glycol (propane-1,2-diol) were exported from Peru; waning by -8.8% on 2021. Over the period under review, exports recorded a pronounced decrease. The pace of growth was the most pronounced in 2013 with an increase of 273%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, propylene glycol exports fell markedly to $X in 2022. In general, exports recorded a slight downturn. The growth pace was the most rapid in 2013 with an increase of 180% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Bolivia (X tons) was the main destination for propylene glycol exports from Peru, accounting for a 100% share of total exports. It was followed by Ecuador (X kg), with a 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Bolivia totaled -2.1%.

In value terms, Bolivia ($X) remains the key foreign market for propylene glycol (propane-1,2-diol) exports from Peru, comprising 100% of total exports. The second position in the ranking was taken by Ecuador ($X), with a 0.1% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Bolivia stood at -1.1%.

Export Prices by Country

In 2022, the average propylene glycol export price amounted to $X per ton, shrinking by -20.2% against the previous year. Overall, export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.0% 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 +44.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 81%. As a result, the export price attained the peak level of $X per ton, and then contracted markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bolivia ($X per ton), while the average price for exports to Ecuador amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (+1.0%).

Propylene Glycol Imports

Imports into Peru

In 2022, the amount of propylene glycol (propane-1,2-diol) imported into Peru dropped notably to X tons, which is down by -33% compared with 2021 figures. Over the period under review, total imports indicated mild growth from 2012 to 2022: its volume increased at an average annual rate of +1.5% 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 +4.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 55%. As a result, imports reached the peak of X tons, and then shrank dramatically in the following year.

In value terms, propylene glycol imports dropped dramatically to $X in 2022. Overall, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 121%. As a result, imports reached the peak of $X, and then declined markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest propylene glycol supplier to Peru, with a 45% share of total imports. Moreover, propylene glycol imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by South Korea (X tons), with an 18% share.

From 2012 to 2022, the average annual growth rate of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.5% per year) and South Korea (+35.7% per year).

In value terms, the largest propylene glycol suppliers to Peru were China ($X), Germany ($X) and South Korea ($X), together accounting for 84% of total imports.

South Korea, with a CAGR of +38.1%, saw 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 mixed trend patterns.

Import Prices by Country

In 2022, the average propylene glycol import price amounted to $X per ton, rising by 8.3% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 42% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were South Korea ($X per ton) and the United States ($X per ton), while the price for China ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+1.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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