Puerto Rico: Propene Market 2024

Propene Market Size in Puerto Rico

After two years of decline, the Puerto Rican propene market increased by 20% to $X in 2021. In general, consumption, however, continues to indicate a perceptible shrinkage. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Propene Production in Puerto Rico

In value terms, propene production soared to $X in 2021 estimated in export price. Over the period under review, production, however, saw a perceptible decline. Puerto Rico production peaked at $X in 2016; however, from 2017 to 2021, production stood at a somewhat lower figure.

Propene Exports

Exports from Puerto Rico

In 2021, exports of propene (propylene) from Puerto Rico totaled less than X kg, flattening at the previous year. In general, exports saw a relatively flat trend pattern.

In value terms, propene exports totaled less than $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern.

Exports by Country

In 2021, South Korea (X tons), distantly followed by the Netherlands (X tons), Taiwan (Chinese) (X tons), Japan (X tons), the United States (X tons) and Germany (X tons) represented the key exporters of propene (propylene), together achieving 57% of total exports. The United Arab Emirates (X tons), Spain (X tons), Italy (X tons), Thailand (X tons), Belgium (X tons), Saudi Arabia (X tons) and Portugal (X tons) took a minor share of total exports.

Exports from South Korea increased at an average annual rate of +3.6% from 2012 to 2021. At the same time, the United Arab Emirates (+33.3%), the United States (+14.3%), Portugal (+8.4%), Germany (+7.4%), Thailand (+6.7%), the Netherlands (+3.5%) and Taiwan (Chinese) (+2.1%) displayed positive paces of growth. Moreover, the United Arab Emirates emerged as the fastest-growing exporter exported in the world, with a CAGR of +33.3% from 2012-2021. Italy, Belgium and Spain experienced a relatively flat trend pattern. By contrast, Japan (-4.1%) and Saudi Arabia (-12.0%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea, the United Arab Emirates, the United States, Germany and the Netherlands increased by +3.9, +3.8, +3.7, +2 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest propene supplying countries from Puerto Rico were South Korea ($X), the Netherlands ($X) and the United States ($X), together comprising 37% of total exports. These countries were followed by Taiwan (Chinese), Japan, Germany, the United Arab Emirates, Spain, Italy, Belgium, Thailand, Saudi Arabia and Portugal, which together accounted for a further 41%.

Among the main exporting countries, the United Arab Emirates, with a CAGR of +30.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Puerto Rico stood at less than $X per ton in 2021, almost unchanged from the previous year. Overall, the export price recorded a relatively flat trend pattern.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Japan ($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 United States (+1.5%), while the other leaders experienced a decline in the export price figures.

Propene Imports

Imports into Puerto Rico

In 2021, approx. less than X kg of propene (propylene) were imported into Puerto Rico; remaining relatively unchanged against the previous year's figure. Over the period under review, imports continue to indicate a relatively flat trend pattern.

In value terms, propene imports stood at less than $X in 2021. In general, imports showed a relatively flat trend pattern.

Imports by Country

In 2021, China (X tons) represented the key importer of propene (propylene), making up 34% of total imports. Germany (X tons) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by the Netherlands (9.4%), Belgium (8.3%), France (5.3%) and Colombia (4.5%). Taiwan (Chinese) (X tons), Poland (X tons), Indonesia (X tons), Mexico (X tons), Japan (X tons), the United States (X tons) and South Korea (X tons) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to propene imports into China stood at +1.7%. At the same time, France (+12.8%), Japan (+7.4%), the Netherlands (+4.9%), Poland (+4.8%), Mexico (+4.3%) and Colombia (+1.3%) displayed positive paces of growth. Moreover, France emerged as the fastest-growing importer imported in the world, with a CAGR of +12.8% from 2012-2021. By contrast, Belgium (-2.0%), Germany (-2.5%), Taiwan (Chinese) (-4.3%), Indonesia (-8.2%), South Korea (-8.9%) and the United States (-13.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of France, the Netherlands and China increased by +3.3, +2.7 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported propene (propylene) into Puerto Rico, comprising 32% of global imports. The second position in the ranking was taken by Germany ($X), with an 11% share of global imports. It was followed by the Netherlands, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value in China amounted to -1.3%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (-4.5% per year) and the Netherlands (+4.0% per year).

Import Prices by Country

The import price in Puerto Rico stood at less than $X per ton in 2021, therefore, remained relatively stable against the previous year. Overall, the import price showed a relatively flat trend pattern.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Mexico ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mexico (+3.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :