South-Eastern Asia: Propene Market 2024

Propene Market Size in South-Eastern Asia

The Southeast Asian propene market was finally on the rise to reach $X in 2021, after two years of decline. Over the period under review, consumption recorded a noticeable descent. The most prominent rate of growth was recorded in 2018 when the market value increased by 9.5%. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Propene Production in South-Eastern Asia

In value terms, propene production expanded to $X in 2021 estimated in export price. Over the period under review, production saw a pronounced downturn. The pace of growth appeared the most rapid in 2018 when the production volume increased by 10% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Propene Exports

Exports in South-Eastern Asia

In 2021, approx. X tons of propene (propylene) were exported in South-Eastern Asia; with a decrease of -3.5% on the year before. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 34% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, propene exports surged to $X in 2021. Over the period under review, exports saw a mild downturn. The growth pace was the most rapid in 2017 when exports increased by 46% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Thailand was the key exporting country with an export of about X tons, which recorded 58% of total exports. Singapore (X tons) held the second position in the ranking, distantly followed by Malaysia (X tons) and the Philippines (X tons). All these countries together held approx. 39% share of total exports. Myanmar (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to propene exports from Thailand stood at +6.7%. At the same time, Myanmar (+325.2%) and Singapore (+1.4%) displayed positive paces of growth. Moreover, Myanmar emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +325.2% from 2012-2021. By contrast, the Philippines (-1.8%) and Malaysia (-10.9%) illustrated a downward trend over the same period. While the share of Thailand (+25 p.p.), Singapore (+2.1 p.p.) and Myanmar (+1.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the Philippines (-1.8 p.p.) and Malaysia (-17.8 p.p.) displayed negative dynamics.

In value terms, Thailand ($X) remains the largest propene supplier in South-Eastern Asia, comprising 57% of total exports. The second position in the ranking was taken by Singapore ($X), with a 21% share of total exports. It was followed by Malaysia, with a 9.1% share.

From 2012 to 2021, the average annual growth rate of value in Thailand totaled +4.7%. In the other countries, the average annual rates were as follows: Singapore (+0.6% per year) and Malaysia (-13.7% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2021, with an increase of 28% against the previous year. Over the period under review, the export price, however, recorded a perceptible setback. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Myanmar ($X per ton) and Singapore ($X per ton), while the Philippines ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Myanmar (-0.7%), while the other leaders experienced a decline in the export price figures.

Propene Imports

Imports in South-Eastern Asia

Propene imports dropped modestly to X tons in 2021, which is down by -3.8% against the year before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 51% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, propene imports skyrocketed to $X in 2021. In general, imports continue to indicate a pronounced contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 39% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Indonesia was the main importing country with an import of around X tons, which finished at 39% of total imports. Singapore (X tons) took the second position in the ranking, distantly followed by Malaysia (X tons), the Philippines (X tons) and Thailand (X tons). All these countries together took approx. 61% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Singapore (with a CAGR of +29.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Indonesia ($X), Singapore ($X) and Malaysia ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 79% of total imports.

Among the main importing countries, Singapore, with a CAGR of +26.0%, 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

In 2021, the import price in South-Eastern Asia amounted to $X per ton, surging by 21% against the previous year. Over the period under review, the import price, however, recorded a pronounced reduction. Over the period under review, import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Malaysia ($X per ton) and Thailand ($X per ton), while the Philippines ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Thailand (-1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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