South Africa: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2024

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

In 2022, the South African propyl and isopropyl alcohol market decreased by -13.8% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption showed a pronounced curtailment. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in South Africa

In value terms, propyl and isopropyl alcohol production expanded notably to $X in 2022 estimated in export price. Over the period under review, the total production indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 -4.6% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 32% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

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

Exports from South Africa

Propyl and isopropyl alcohol exports from South Africa expanded markedly to X tons in 2022, increasing by 8.5% against the previous year. In general, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +73.3% against 2018 indices. The growth pace was the most rapid in 2019 with an increase of 44% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, propyl and isopropyl alcohol exports totaled $X in 2022. Overall, exports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 61%. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Belgium (X tons), the United States (X tons) and the United Arab Emirates (X tons) were the main destinations of propyl and isopropyl alcohol exports from South Africa, with a combined 55% share of total exports. Singapore, China, India, Nigeria and Hong Kong SAR lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of +54.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the United States ($X) and Singapore ($X) appeared to be the largest markets for propyl and isopropyl alcohol exported from South Africa worldwide, with a combined 60% share of total exports. The United Arab Emirates, India, Nigeria, China and Hong Kong SAR lagged somewhat behind, together comprising a further 25%.

In terms of the main countries of destination, Nigeria, with a CAGR of +51.4%, recorded 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

The average propyl and isopropyl alcohol export price stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 34% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Hong Kong SAR ($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 the United States (+1.7%), 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 South Africa

In 2022, the amount of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) imported into South Africa shrank rapidly to X tons, waning by -15.7% against the previous year. In general, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2020 when imports increased by 68% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports remained at a lower figure.

In value terms, propyl and isopropyl alcohol imports amounted to $X in 2022. Overall, imports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2020 with an increase of 83% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest propyl and isopropyl alcohol supplier to South Africa, accounting for a 45% share of total imports. Moreover, propyl and isopropyl alcohol imports from Malaysia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Belgium (X tons), with a 9.9% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia stood at +13.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+92.2% per year) and Belgium (-17.5% per year).

In value terms, Malaysia ($X), Spain ($X) and the UK ($X) appeared to be the largest propyl and isopropyl alcohol suppliers to South Africa, together comprising 64% of total imports. Belgium, China, Germany, the United States, India and the Netherlands lagged somewhat behind, together comprising a further 33%.

China, with a CAGR of +86.7%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average propyl and isopropyl alcohol import price amounted to $X per ton, increasing by 35% against the previous year. In general, the import price saw a strong increase. The most prominent rate of growth was recorded in 2021 an increase of 50%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+34.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :