Portugal: Propene Market 2024

Propene Market Size in Portugal

The Portuguese propene market shrank to $X in 2021, falling by -10.8% against the previous year. Over the period under review, consumption saw a perceptible contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Propene Production in Portugal

In value terms, propene production surged to $X in 2021 estimated in export price. Overall, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -14.6% against 2017 indices. The pace of growth appeared the most rapid in 2013 with an increase of 65%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Propene Exports

Exports from Portugal

In 2021, approx. X tons of propene (propylene) were exported from Portugal; picking up by 12% compared with the year before. Over the period under review, total exports indicated a resilient increase from 2012 to 2021: its volume increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +34.3% against 2018 indices. The pace of growth was the most pronounced in 2013 when exports increased by 62%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, propene exports surged to $X in 2021. Overall, total exports indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Germany (X tons), the UK (X tons) and Spain (X tons) were the main destinations of propene exports from Portugal, with a combined 89% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +85.1%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Spain ($X) and the UK ($X) constituted the largest markets for propene exported from Portugal worldwide, together comprising 89% of total exports.

The UK, with a CAGR of +111.3%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average propene export price amounted to $X per ton, rising by 55% against the previous year. Over the period under review, the export price, however, continues to indicate a mild shrinkage. Over the period under review, the average export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Spain ($X per ton) and Germany ($X per ton), while the average price for exports to Belgium ($X per ton) and the UK ($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 the UK (+14.1%), while the prices for the other major destinations experienced a decline.

Propene Imports

Imports into Portugal

In 2021, approx. X tons of propene (propylene) were imported into Portugal; flattening at 2020 figures. In general, imports continue to indicate a perceptible descent. The most prominent rate of growth was recorded in 2018 with an increase of 116,710% against the previous year. Over the period under review, imports reached the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, propene imports surged to $X in 2021. Overall, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2018 with an increase of 118,102%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of propene to Portugal, with a 60% share of total imports. Moreover, propene imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Spain (X kg), twofold. France (X kg) ranked third in terms of total imports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands amounted to +247.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+11.2% per year) and France (+20.2% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of propene (propylene) to Portugal, comprising 77% of total imports. The second position in the ranking was taken by Spain ($X), with a 14% share of total imports. It was followed by France, with a 5.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Netherlands totaled +371.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+12.2% per year) and France (+18.7% per year).

Import Prices by Country

In 2021, the average propene import price amounted to $X per ton, jumping by 44% against the previous year. Overall, the import price posted prominent growth. The most prominent rate of growth was recorded in 2013 an increase of 100% against the previous year. Over the period under review, average import prices attained the maximum in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+35.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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