Thailand: 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 Thailand

In 2022, after two years of growth, there was significant decline in the Thai propyl and isopropyl alcohol market, when its value decreased by -22.2% to $X. In general, consumption, however, showed a relatively flat trend pattern. Propyl and isopropyl alcohol consumption peaked at $X in 2021, and then declined markedly in the following year.

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

Exports from Thailand

Propyl and isopropyl alcohol exports from Thailand surged to X tons in 2022, picking up by 29% against the year before. In general, exports showed a significant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 724% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, propyl and isopropyl alcohol exports totaled $X in 2022. Over the period under review, exports saw a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 338% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for propyl and isopropyl alcohol exports from Thailand, accounting for a 62% share of total exports. Moreover, propyl and isopropyl alcohol exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Vietnam (X tons), twofold. Myanmar (X tons) ranked third in terms of total exports with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume to Lao People's Democratic Republic amounted to +146.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+64.3% per year) and Myanmar (+59.0% per year).

In value terms, the largest markets for propyl and isopropyl alcohol exported from Thailand were Lao People's Democratic Republic ($X), Vietnam ($X) and Myanmar ($X), with a combined 92% share of total exports.

Lao People's Democratic Republic, with a CAGR of +107.7%, saw 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 propyl and isopropyl alcohol export price amounted to $X per ton, dropping by -11.1% against the previous year. Over the period under review, the export price saw a perceptible slump. The pace of growth appeared the most rapid in 2018 when the average export price increased by 76%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 South Africa (+40.2%), while the prices for the other major destinations experienced mixed trend patterns.

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

Imports into Thailand

In 2022, purchases abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -20.4% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 with an increase of 27% against the previous year. Imports peaked at X tons in 2021, and then contracted sharply in the following year.

In value terms, propyl and isopropyl alcohol imports shrank remarkably to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then contracted notably in the following year.

Imports by Country

China (X tons), Japan (X tons) and South Korea (X tons) were the main suppliers of propyl and isopropyl alcohol imports to Thailand, together accounting for 91% of total imports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +47.9%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest propyl and isopropyl alcohol suppliers to Thailand were China ($X), Japan ($X) and South Korea ($X), with a combined 88% share of total imports.

Among the main suppliers, China, with a CAGR of +43.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average propyl and isopropyl alcohol import price stood at $X per ton in 2022, reducing by -2.4% against the previous year. Overall, the import price showed a slight slump. The most prominent rate of growth was recorded in 2017 an increase of 22% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Japan ($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 (+35.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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