Russian Federation: Propene Market 2024

Propene Market Size in the Russian Federation

The Russian propene market rose slightly to $X in 2021, growing by 3.3% against the previous year. In general, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -11.1% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Propene Production in the Russian Federation

In value terms, propene production surged to $X in 2021 estimated in export price. In general, the total production indicated a tangible increase from 2012 to 2021: its value increased at an average annual rate of +3.3% 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 -15.5% against 2019 indices. The most prominent rate of growth was recorded in 2018 with an increase of 45%. Propene production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Propene Exports

Exports from the Russian Federation

In 2021, overseas shipments of propene (propylene) were finally on the rise to reach X tons after three years of decline. Overall, exports continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 255%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, propene exports skyrocketed to $X in 2021. Over the period under review, exports saw a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Finland (X tons), Poland (X tons) and China (X tons) were the main destinations of propene exports from Russia, together comprising 90% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +1,943.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for propene exported from Russia were Finland ($X), Poland ($X) and China ($X), together accounting for 89% of total exports.

China, with a CAGR of +2,576.1%, saw the highest growth rate of the value of exports, among 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

The average propene export price stood at $X per ton in 2021, jumping by 47% against the previous year. Over the period under review, the export price, however, showed a perceptible descent. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Finland (+68.8%), while the prices for the other major destinations experienced more modest paces of growth.

Propene Imports

Imports into the Russian Federation

In 2021, after two years of growth, there was significant decline in supplies from abroad of propene (propylene), when their volume decreased by -52.5% to X tons. In general, imports saw a precipitous slump. The most prominent rate of growth was recorded in 2020 when imports increased by 553%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, propene imports fell rapidly to $X in 2021. Over the period under review, imports continue to indicate a sharp curtailment. The pace of growth was the most pronounced in 2020 with an increase of 891% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of propene to Russia, accounting for a 62% share of total imports. Moreover, propene imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The United States (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +50.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+166.8% per year) and the United States (+17.9% per year).

In value terms, the largest propene suppliers to Russia were Italy ($X), China ($X) and the United States ($X), with a combined 99% share of total imports.

In terms of the main suppliers, Italy, with a CAGR of +114.8%, recorded the highest rates of growth with regard to 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 2021, the average propene import price amounted to $X per ton, declining by -32.9% against the previous year. Overall, the import price, however, posted resilient growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 357% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Belarus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (+0.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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