Sri Lanka: 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 Sri Lanka

The Sri Lankan propyl and isopropyl alcohol market shrank rapidly to $X in 2022, reducing by -29.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, posted a measured increase. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

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

Exports from Sri Lanka

In 2022, propyl and isopropyl alcohol exports from Sri Lanka soared to X tons, with an increase of 194% on the previous year. Over the period under review, exports, however, saw a perceptible decline. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, propyl and isopropyl alcohol exports surged to $X in 2022. In general, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 202%. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Kenya (X kg), Maldives (X kg) and India (X kg) were the main destinations of propyl and isopropyl alcohol exports from Sri Lanka.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kenya (with a CAGR of 0.0%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for propyl and isopropyl alcohol exported from Sri Lanka were Maldives ($X), Kenya ($X) and India ($X).

In terms of the main countries of destination, Kenya, with a CAGR of 0.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average propyl and isopropyl alcohol export price stood at $X per ton in 2022, reducing by -30.9% against the previous year. Over the period under review, the export price, however, showed a perceptible expansion. The pace of growth was the most pronounced in 2021 when the average export price increased by 68% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted sharply in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Kenya ($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 Oman (+10.3%).

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

Imports into Sri Lanka

In 2022, purchases abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -31.2% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate a moderate increase. The most prominent rate of growth was recorded in 2020 with an increase of 59%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, propyl and isopropyl alcohol imports dropped dramatically to $X in 2022. Overall, imports, however, saw a pronounced increase. The most prominent rate of growth was recorded in 2020 with an increase of 113%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, South Korea (X tons) constituted the largest propyl and isopropyl alcohol supplier to Sri Lanka, accounting for a 34% share of total imports. Moreover, propyl and isopropyl alcohol imports from South Korea exceeded the figures recorded by the second-largest supplier, South Africa (X tons), threefold. The third position in this ranking was taken by China (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from South Korea stood at +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+45.4% per year) and China (+44.7% per year).

In value terms, South Korea ($X) constituted the largest supplier of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) to Sri Lanka, comprising 34% of total imports. The second position in the ranking was taken by South Africa ($X), with a 15% share of total imports. It was followed by Japan, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea totaled +13.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Africa (+45.2% per year) and Japan (+34.0% per year).

Import Prices by Country

The average propyl and isopropyl alcohol import price stood at $X per ton in 2022, with an increase of 3% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 34% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+1.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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