United Arab Emirates: Propylene Glycol Market 2024

Propylene Glycol Market Size in the United Arab Emirates

In 2022, the propylene glycol market in the United Arab Emirates decreased by -34.3% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, continues to indicate a temperate increase. As a result, consumption attained the peak level of $X, and then reduced dramatically in the following year.

Propylene Glycol Exports

Exports from the United Arab Emirates

In 2022, overseas shipments of propylene glycol (propane-1,2-diol) decreased by -6.7% to X tons, falling for the second year in a row after two years of growth. Over the period under review, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 179% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, propylene glycol exports shrank significantly to $X in 2022. In general, exports, however, continue to indicate a strong expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 188% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then fell sharply in the following year.

Exports by Country

India (X tons) was the main destination for propylene glycol exports from the United Arab Emirates, with a 87% share of total exports. Moreover, propylene glycol exports to India exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold. Egypt (X tons) ranked third in terms of total exports with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled +58.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+68.7% per year) and Egypt (+22.7% per year).

In value terms, India ($X) remains the key foreign market for propylene glycol (propane-1,2-diol) exports from the United Arab Emirates, comprising 79% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 7.6% share of total exports. It was followed by Egypt, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India stood at +61.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+106.1% per year) and Egypt (+33.0% per year).

Export Prices by Country

The average propylene glycol export price stood at $X per ton in 2022, dropping by -10.5% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 99% against the previous year. As a result, the export price reached the peak level of $X per ton, and then contracted in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while the average price for exports to India ($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 the Netherlands (+22.1%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into the United Arab Emirates

In 2022, after two years of growth, there was significant decline in purchases abroad of propylene glycol (propane-1,2-diol), when their volume decreased by -41.8% to X tons. Overall, imports, however, continue to indicate tangible growth. The most prominent rate of growth was recorded in 2021 with an increase of 74% against the previous year. As a result, imports attained the peak of X tons, and then fell dramatically in the following year.

In value terms, propylene glycol imports contracted markedly to $X in 2022. Over the period under review, imports, however, showed a notable increase. The pace of growth appeared the most rapid in 2021 with an increase of 112% against the previous year. As a result, imports reached the peak of $X, and then fell notably in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest propylene glycol supplier to the United Arab Emirates, with a 56% share of total imports. Moreover, propylene glycol imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was taken by the Netherlands (X tons), with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +19.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+7.6% per year) and the Netherlands (-11.5% per year).

In value terms, the largest propylene glycol suppliers to the United Arab Emirates were China ($X), South Korea ($X) and the Netherlands ($X), with a combined 87% share of total imports.

China, with a CAGR of +20.0%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average propylene glycol import price amounted to $X per ton, surging by 27% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2018 when the average import price increased by 28% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($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 United States (+29.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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