United Kingdom: Propylene Glycol Market 2024

Propylene Glycol Market Size in the UK

The UK propylene glycol market reduced to $X in 2022, falling by -11.8% against the previous year. Over the period under review, the total consumption indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +10.1% against 2020 indices. Propylene glycol consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Propylene Glycol Production in the UK

In value terms, propylene glycol production dropped to $X in 2022 estimated in export price. Overall, production, however, showed a resilient expansion. The growth pace was the most rapid in 2017 when the production volume increased by 62% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Propylene Glycol Exports

Exports from the UK

Propylene glycol exports from the UK expanded significantly to X tons in 2022, surging by 5.3% compared with the year before. Overall, exports, however, continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of 42%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, propylene glycol exports soared to $X in 2022. In general, exports, however, recorded a noticeable downturn. The pace of growth was the most pronounced in 2018 with an increase of 18%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Ireland (X tons) was the main destination for propylene glycol exports from the UK, with a 40% share of total exports. Moreover, propylene glycol exports to Ireland exceeded the volume sent to the second major destination, Denmark (X tons), twofold. The third position in this ranking was held by France (X tons), with a 9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Ireland totaled -9.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+18.8% per year) and France (+9.6% per year).

In value terms, Ireland ($X) remains the key foreign market for propylene glycol (propane-1,2-diol) exports from the UK, comprising 43% of total exports. The second position in the ranking was held by Denmark ($X), with a 12% share of total exports. It was followed by France, with a 9.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Ireland totaled -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+22.4% per year) and France (+15.7% per year).

Export Prices by Country

The average propylene glycol export price stood at $X per ton in 2022, surging by 11% against the previous year. Over the period under review, the export price recorded a resilient increase. The pace of growth was the most pronounced in 2021 an increase of 83% against the previous year. The export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Sweden ($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 Austria (+16.1%), while the prices for the other major destinations experienced more modest paces of growth.

Propylene Glycol Imports

Imports into the UK

In 2022, propylene glycol imports into the UK dropped to X tons, falling by -13.2% compared with the previous year. In general, imports recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 when imports increased by 20% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, propylene glycol imports expanded markedly to $X in 2022. Over the period under review, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 75% against the previous year. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of propylene glycol to the UK, with a 48% share of total imports. Moreover, propylene glycol imports from Germany exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), fourfold. The third position in this ranking was taken by France (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled -4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-15.0% per year) and France (-2.6% per year).

In value terms, Germany ($X) constituted the largest supplier of propylene glycol (propane-1,2-diol) to the UK, comprising 53% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total imports. It was followed by France, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-11.6% per year) and France (+2.8% per year).

Import Prices by Country

In 2022, the average propylene glycol import price amounted to $X per ton, growing by 31% against the previous year. In general, the import price recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 an increase of 66%. The import price peaked in 2022 and is likely to see steady growth in the near future.

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 Belgium ($X per ton), while the price for Ireland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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