SADC: Propylene Glycol Market 2024

Propylene Glycol Market Size in SADC

In 2022, the SADC propylene glycol market increased by 0.4% to $X, rising for the sixth consecutive year after two years of decline. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +71.3% against 2016 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Propylene Glycol Production in SADC

In value terms, propylene glycol production rose slightly to $X in 2022 estimated in export price. The total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -4.0% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by 35%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Propylene Glycol Exports

Exports in SADC

In 2022, exports of propylene glycol (propane-1,2-diol) in SADC reduced sharply to X tons, shrinking by -29.1% on 2021 figures. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2019 with an increase of 126%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, propylene glycol exports reduced to $X in 2022. Overall, exports showed a noticeable contraction. The most prominent rate of growth was recorded in 2019 with an increase of 124% against the previous year. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, South Africa (X tons) was the key exporter of propylene glycol (propane-1,2-diol), constituting 67% of total exports. It was distantly followed by Zambia (X tons), creating a 29% share of total exports. Namibia (X tons) held a little share of total exports.

Exports from South Africa decreased at an average annual rate of -5.8% from 2012 to 2022. At the same time, Namibia (+23.5%) and Zambia (+7.8%) displayed positive paces of growth. Moreover, Namibia emerged as the fastest-growing exporter exported in SADC, with a CAGR of +23.5% from 2012-2022. Zambia (+21 p.p.) and Namibia (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest propylene glycol supplier in SADC, comprising 67% of total exports. The second position in the ranking was held by Zambia ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at -3.5%. In the other countries, the average annual rates were as follows: Zambia (+12.9% per year) and Namibia (+21.0% per year).

Export Prices by Country

In 2022, the export price in SADC amounted to $X per ton, rising by 23% against the previous year. Export price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, propylene glycol export price increased by +84.5% against 2019 indices. The growth pace was the most rapid in 2017 when the export price increased by 54% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Zambia ($X per ton), while Namibia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zambia (+4.7%), while the other leaders experienced mixed trends in the export price figures.

Propylene Glycol Imports

Imports in SADC

Propylene glycol imports dropped markedly to X tons in 2022, shrinking by -24.6% on 2021 figures. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 69% against the previous year. As a result, imports attained the peak of X tons, and then shrank notably in the following year.

In value terms, propylene glycol imports declined to $X in 2022. Overall, imports, however, continue to indicate a measured increase. The growth pace was the most rapid in 2021 with an increase of 160%. As a result, imports reached the peak of $X, and then shrank slightly in the following year.

Imports by Country

South Africa dominates imports structure, recording X tons, which was approx. 84% of total imports in 2022. It was distantly followed by Democratic Republic of the Congo (X tons), achieving a 5.4% share of total imports. Swaziland (X tons), Tanzania (X tons), Angola (X tons) and Zimbabwe (X tons) followed a long way behind the leaders.

South Africa experienced a relatively flat trend pattern with regard to volume of imports of propylene glycol (propane-1,2-diol). At the same time, Angola (+14.6%), Democratic Republic of the Congo (+13.6%), Swaziland (+6.9%) and Zimbabwe (+6.1%) displayed positive paces of growth. Moreover, Angola emerged as the fastest-growing importer imported in SADC, with a CAGR of +14.6% from 2012-2022. By contrast, Tanzania (-5.0%) illustrated a downward trend over the same period. Democratic Republic of the Congo (+3.9 p.p.) significantly strengthened its position in terms of the total imports, while South Africa saw its share reduced by -5.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) constitutes the largest market for imported propylene glycol (propane-1,2-diol) in SADC, comprising 83% of total imports. The second position in the ranking was held by Democratic Republic of the Congo ($X), with a 4.6% share of total imports. It was followed by Zimbabwe, with a 3.2% share.

In South Africa, propylene glycol imports expanded at an average annual rate of +3.2% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Democratic Republic of the Congo (+9.2% per year) and Zimbabwe (+15.3% per year).

Import Prices by Country

The import price in SADC stood at $X per ton in 2022, with an increase of 27% against the previous year. Import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +3.7% 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 +95.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 54%. The level of import peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Zimbabwe (+8.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform