Portugal: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Portugal

The Portuguese polypropylene in primary forms market fell modestly to $X in 2022, approximately equating the previous year. Over the period under review, the total consumption indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +31.1% against 2020 indices. As a result, consumption reached the peak level of $X, leveling off in the following year.

Production of Polypropylene in Primary Forms in Portugal

In value terms, polypropylene in primary forms production skyrocketed to $X in 2022 estimated in export price. Overall, the total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +79.4% against 2020 indices. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Polypropylene in Primary Forms

Exports from Portugal

Polypropylene in primary forms exports from Portugal dropped significantly to X tons in 2022, which is down by -20.6% on 2021 figures. In general, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +26.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, polypropylene in primary forms exports dropped to $X in 2022. Over the period under review, exports, however, enjoyed a strong increase. The most prominent rate of growth was recorded in 2021 when exports increased by 91% against the previous year. As a result, the exports attained the peak of $X, and then shrank in the following year.

Exports by Country

Spain (X tons) was the main destination for polypropylene in primary forms exports from Portugal, with a 55% share of total exports. Moreover, polypropylene in primary forms exports to Spain exceeded the volume sent to the second major destination, Morocco (X tons), fourfold. Romania (X tons) ranked third in terms of total exports with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain amounted to +3.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+14.5% per year) and Romania (+5.6% per year).

In value terms, Spain ($X) remains the key foreign market for polypropylene in primary forms exports from Portugal, comprising 42% of total exports. The second position in the ranking was taken by Morocco ($X), with a 20% share of total exports. It was followed by Romania, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Spain amounted to +4.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Morocco (+11.4% per year) and Romania (+5.3% per year).

Export Prices by Country

In 2022, the average polypropylene in primary forms export price amounted to $X per ton, surging by 8.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 19%. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Tunisia ($X per ton), while the average price for exports to Spain ($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 China (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polypropylene in Primary Forms

Imports into Portugal

In 2022, purchases abroad of polypropylene in primary forms decreased by -0.1% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% 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 +87.8% against 2012 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 30%. Imports peaked at X tons in 2021, and then contracted modestly in the following year.

In value terms, polypropylene in primary forms imports reduced modestly to $X in 2022. Overall, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.9% 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 +53.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 59%. As a result, imports reached the peak of $X, and then shrank slightly in the following year.

Imports by Country

Spain (X tons), Saudi Arabia (X tons) and Greece (X tons) were the main suppliers of polypropylene in primary forms imports to Portugal, together accounting for 62% of total imports. India, South Africa, Egypt, South Korea, Russia, France, Germany, Italy, Belgium and the Netherlands lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +103.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), Saudi Arabia ($X) and Greece ($X) were the largest polypropylene in primary forms suppliers to Portugal, together comprising 61% of total imports. India, South Africa, Egypt, South Korea, France, Germany, Russia, Italy, Belgium and the Netherlands lagged somewhat behind, together comprising a further 32%.

Among the main suppliers, Russia, with a CAGR of +86.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average polypropylene in primary forms import price amounted to $X per ton, waning by -3.3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 56% against the previous year. As a result, import price attained the peak level of $X per ton, and then contracted modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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