South-Eastern Asia: Propylene Oxide Market 2024

Propylene Oxide Market Size in South-Eastern Asia

In 2021, the Southeast Asian propylene oxide market decreased by -21.4% to $X, falling for the second year in a row after five years of growth. Over the period under review, consumption, however, recorded a prominent increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Propylene Oxide Production in South-Eastern Asia

In value terms, propylene oxide production expanded to $X in 2021 estimated in export price. In general, production continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2018 with an increase of 5.4% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Propylene Oxide Exports

Exports in South-Eastern Asia

In 2021, overseas shipments of methyloxirane (propylene oxide) increased by 22% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, showed a drastic downturn. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, propylene oxide exports surged to $X in 2021. Over the period under review, exports, however, showed a abrupt slump. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Thailand (X tons) was the largest exporter of methyloxirane (propylene oxide), constituting 73% of total exports. It was distantly followed by Singapore (X tons), achieving a 27% share of total exports.

Thailand was also the fastest-growing in terms of the methyloxirane (propylene oxide) exports, with a CAGR of -5.1% from 2012 to 2021. Singapore (-12.9%) illustrated a downward trend over the same period. While the share of Thailand (+17 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Singapore (-17.4 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) emerged as the largest propylene oxide supplier in South-Eastern Asia, comprising 79% of total exports. The second position in the ranking was held by Singapore ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Thailand totaled -6.5%.

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, growing by 65% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Singapore stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Singapore (-1.4%).

Propylene Oxide Imports

Imports in South-Eastern Asia

In 2021, overseas purchases of methyloxirane (propylene oxide) decreased by -36% to X tons, falling for the third consecutive year after three years of growth. Overall, imports continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2014 with an increase of 36%. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, propylene oxide imports declined notably to $X in 2021. In general, imports recorded a perceptible shrinkage. The growth pace was the most rapid in 2014 with an increase of 51% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Indonesia represented the major importing country with an import of around X tons, which amounted to 66% of total imports. Thailand (X tons) ranks second in terms of the total imports with a 23% share, followed by Singapore (11%).

Indonesia was also the fastest-growing in terms of the methyloxirane (propylene oxide) imports, with a CAGR of +1.5% from 2012 to 2021. Thailand (-2.1%) and Singapore (-21.0%) illustrated a downward trend over the same period. While the share of Indonesia (+34 p.p.) and Thailand (+7.2 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Singapore (-40.4 p.p.) displayed negative dynamics.

In value terms, Indonesia ($X) constitutes the largest market for imported methyloxirane (propylene oxide) in South-Eastern Asia, comprising 68% of total imports. The second position in the ranking was held by Thailand ($X), with a 22% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Indonesia totaled +4.5%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+0.7% per year) and Singapore (-20.6% per year).

Import Prices by Country

The import price in South-Eastern Asia stood at $X per ton in 2021, surging by 28% against the previous year. Over the last nine years, it increased at an average annual rate of +2.5%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Indonesia ($X per ton), while Singapore ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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