Sweden: Propylene Glycol Market 2024

Propylene Glycol Market Size in Sweden

In 2022, the Swedish propylene glycol market increased by 87% to $X, rising for the second consecutive year after two years of decline. In general, consumption showed prominent growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Propylene Glycol Production in Sweden

In value terms, propylene glycol production surged to $X in 2022 estimated in export price. Overall, production, however, faced a abrupt shrinkage. Propylene glycol production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Propylene Glycol Exports

Exports from Sweden

In 2022, exports of propylene glycol (propane-1,2-diol) from Sweden declined markedly to X tons, dropping by -48.9% compared with 2021. Overall, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 when exports increased by 222% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2021, and then dropped notably in the following year.

In value terms, propylene glycol exports reduced rapidly to $X in 2022. In general, exports, however, continue to indicate buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 433%. As a result, the exports attained the peak of $X, and then reduced markedly in the following year.

Exports by Country

Denmark (X tons) was the main destination for propylene glycol exports from Sweden, accounting for a 44% share of total exports. Moreover, propylene glycol exports to Denmark exceeded the volume sent to the second major destination, Norway (X tons), twofold. The third position in this ranking was held by Finland (X tons), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Denmark totaled +31.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Norway (+0.4% per year) and Finland (+53.8% per year).

In value terms, Denmark ($X), Norway ($X) and Finland ($X) were the largest markets for propylene glycol exported from Sweden worldwide, together accounting for 84% of total exports. Estonia and Belgium lagged somewhat behind, together accounting for a further 13%.

Belgium, with a CAGR of +67.9%, recorded the highest growth rate of the value of exports, among 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

In 2022, the average propylene glycol export price amounted to $X per ton, with an increase of 13% against the previous year. Over the period under review, export price indicated a temperate increase from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, propylene glycol export price increased by +95.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 73% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to Estonia ($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 Belgium (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into Sweden

In 2022, purchases abroad of propylene glycol (propane-1,2-diol) increased by 54% to X tons, rising for the second consecutive year after two years of decline. Overall, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 58%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, propylene glycol imports soared to $X in 2022. In general, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 111% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), Ireland (X tons) and the Netherlands (X tons) were the main suppliers of propylene glycol imports to Sweden, together comprising 87% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ireland (with a CAGR of +470.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of propylene glycol (propane-1,2-diol) to Sweden, comprising 51% of total imports. The second position in the ranking was held by Ireland ($X), with a 21% share of total imports. It was followed by the Netherlands, with a 19% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +8.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+333.5% per year) and the Netherlands (+3.8% per year).

Import Prices by Country

The average propylene glycol import price stood at $X per ton in 2022, declining by -5.1% against the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.5% 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 +74.5% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 70%. As a result, import price attained the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Norway ($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 UK (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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