Spain: Propylene Glycol Market 2025

Propylene Glycol Market Size in Spain

In 2022, after three years of decline, there was significant growth in the Spanish propylene glycol market, when its value increased by 56% to $X. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Propylene Glycol Production in Spain

In value terms, propylene glycol production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +53.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by 52%. Over the period under review, production hit record highs in 2022 and is likely to continue growth in the immediate term.

Propylene Glycol Exports

Exports from Spain

In 2022, shipments abroad of propylene glycol (propane-1,2-diol) decreased by -30.2% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 54%. Over the period under review, the exports reached the peak figure at X tons in 2021, and then fell significantly in the following year.

In value terms, propylene glycol exports dropped modestly to $X in 2022. Overall, exports, however, saw a resilient increase. The growth pace was the most rapid in 2021 with an increase of 123% against the previous year. As a result, the exports attained the peak of $X, and then fell modestly in the following year.

Exports by Country

Italy (X tons), France (X tons) and Germany (X tons) were the main destinations of propylene glycol exports from Spain, with a combined 71% share of total exports. The Netherlands, Belgium, Portugal, Poland, Morocco, Turkey, the UK, Switzerland and Austria lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +51.4%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for propylene glycol exported from Spain were France ($X), Italy ($X) and Germany ($X), with a combined 71% share of total exports. The Netherlands, Portugal, Belgium, Poland, Morocco, Turkey, the UK, Switzerland and Austria lagged somewhat behind, together comprising a further 25%.

Poland, with a CAGR of +57.9%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average propylene glycol export price stood at $X per ton in 2022, with an increase of 37% against the previous year. Overall, the export price posted resilient growth. The growth pace was the most rapid in 2021 when the average export price increased by 64% against the previous year. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Austria ($X per ton) and Portugal ($X per ton), while the average price for exports to Belgium ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (+6.8%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into Spain

Propylene glycol imports into Spain dropped to X tons in 2022, shrinking by -7.7% compared with 2021 figures. The total import volume increased at an average annual rate of +2.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when imports increased by 29% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, propylene glycol imports totaled $X in 2022. In general, imports, however, showed a resilient increase. The pace of growth appeared the most rapid in 2021 with an increase of 80% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of propylene glycol to Spain, accounting for a 62% share of total imports. Moreover, propylene glycol imports from Germany exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. The third position in this ranking was held by China (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+4.8% per year) and China (+7.9% per year).

In value terms, Germany ($X) constituted the largest supplier of propylene glycol (propane-1,2-diol) to Spain, comprising 57% of total imports. The second position in the ranking was held by France ($X), with a 19% share of total imports. It was followed by China, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+10.5% per year) and China (+13.0% per year).

Import Prices by Country

The average propylene glycol import price stood at $X per ton in 2022, growing by 12% against the previous year. Overall, import price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of +4.5% 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 +74.6% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 56% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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