Serbia: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2025

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Serbia

In 2022, the Serbian propyl and isopropyl alcohol market decreased by -6.5% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +37.0% against 2019 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Exports from Serbia

In 2022, approx. X tons of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) were exported from Serbia; which is down by -46.2% against 2021. In general, exports, however, enjoyed a strong expansion. The pace of growth appeared the most rapid in 2018 with an increase of 172%. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, propyl and isopropyl alcohol exports reduced remarkably to $X in 2022. Over the period under review, exports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2018 with an increase of 239% against the previous year. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Bosnia and Herzegovina (X tons), North Macedonia (X tons) and Montenegro (X tons) were the main destinations of propyl and isopropyl alcohol exports from Serbia, together accounting for 96% of total exports. Russia lagged somewhat behind, comprising a further 3.6%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +60.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bosnia and Herzegovina ($X), North Macedonia ($X) and Russia ($X) were the largest markets for propyl and isopropyl alcohol exported from Serbia worldwide, together accounting for 83% of total exports.

Among the main countries of destination, Russia, with a CAGR of +94.2%, saw the highest growth rate of 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

In 2022, the average propyl and isopropyl alcohol export price amounted to $X per ton, growing by 34% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, propyl and isopropyl alcohol export price increased by +89.3% against 2017 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Imports into Serbia

In 2022, after two years of growth, there was significant decline in supplies from abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), when their volume decreased by -16.3% to X tons. Overall, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 43%. Over the period under review, imports hit record highs at X tons in 2021, and then reduced dramatically in the following year.

In value terms, propyl and isopropyl alcohol imports reduced to $X in 2022. In general, total imports indicated a noticeable expansion from 2012 to 2022: its value 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. The pace of growth appeared the most rapid in 2017 when imports increased by 75% against the previous year. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Russia (X tons), the Netherlands (X tons) and the United States (X tons) were the main suppliers of propyl and isopropyl alcohol imports to Serbia, with a combined 70% share of total imports. Germany, China, the UK, South Korea, South Africa and Austria lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +120.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), the Netherlands ($X) and Germany ($X) were the largest propyl and isopropyl alcohol suppliers to Serbia, together accounting for 60% of total imports. The United States, China, the UK, South Korea, Austria and South Africa lagged somewhat behind, together accounting for a further 31%.

In terms of the main suppliers, China, with a CAGR of +99.6%, recorded the highest growth rate of 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

The average propyl and isopropyl alcohol import price stood at $X per ton in 2022, picking up by 7.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 34% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform