Romania: Propylene Glycol Market 2024

Propylene Glycol Market Size in Romania

In 2022, the Romanian propylene glycol market decreased by -4.5% to $X, falling for the second consecutive year after five years of growth. Over the period under review, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -11.0% against 2020 indices. Propylene glycol consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Propylene Glycol Production in Romania

In value terms, propylene glycol production amounted to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 42%. Propylene glycol production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Propylene Glycol Exports

Exports from Romania

In 2022, shipments abroad of propylene glycol (propane-1,2-diol) increased by 15% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2017 with an increase of 265%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, propylene glycol exports soared to $X in 2022. Overall, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 319% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Poland (X tons), Germany (X tons) and Bulgaria (X tons) were the main destinations of propylene glycol exports from Romania, with a combined 49% share of total exports. The Netherlands, Greece, Belgium, Hungary, Italy, Belarus, Serbia, Austria, Turkey and Slovenia lagged somewhat behind, together accounting for a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +97.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for propylene glycol exported from Romania were Poland ($X), Germany ($X) and Bulgaria ($X), together comprising 47% of total exports. The Netherlands, Greece, Belgium, Hungary, Italy, Serbia, Belarus, Austria, Turkey and Slovenia lagged somewhat behind, together accounting for a further 43%.

The Netherlands, with a CAGR of +117.4%, saw the highest rates of growth with regard to 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 2022, the average propylene glycol export price amounted to $X per ton, increasing by 35% against the previous year. Overall, the export price recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 when the average export price increased by 73% against the previous year. The export price peaked in 2022 and is expected to retain growth in years to come.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Serbia ($X per ton) and Germany ($X per ton), while the average price for exports to Austria ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into Romania

In 2022, after two years of growth, there was significant decline in overseas purchases of propylene glycol (propane-1,2-diol), when their volume decreased by -36.5% to X tons. Overall, imports, however, saw a pronounced increase. The growth pace was the most rapid in 2021 with an increase of 89% against the previous year. As a result, imports reached the peak of X tons, and then shrank markedly in the following year.

In value terms, propylene glycol imports shrank significantly to $X in 2022. Over the period under review, imports, however, saw resilient growth. The pace of growth was the most pronounced in 2021 when imports increased by 258% against the previous year. As a result, imports reached the peak of $X, and then shrank rapidly in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of propylene glycol to Romania, accounting for a 49% share of total imports. Moreover, propylene glycol imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Poland (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (+39.0% per year) and Poland (+45.8% per year).

In value terms, the largest propylene glycol suppliers to Romania were Germany ($X), China ($X) and Poland ($X), with a combined 83% share of total imports.

Poland, with a CAGR of +50.0%, recorded 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 more modest paces of growth.

Import Prices by Country

The average propylene glycol import price stood at $X per ton in 2022, growing by 4.1% against the previous year. Over the period under review, import price indicated a notable 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 import price increased by +97.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 90%. The import price peaked in 2022 and is likely to continue growth in the near future.

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 Belgium ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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