Asia: 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 Asia

The Asian propyl and isopropyl alcohol market rose markedly to $X in 2022, increasing by 7.4% against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in the immediate term.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Asia

In value terms, propyl and isopropyl alcohol production expanded sharply to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the production volume increased by 47% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

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

Exports in Asia

In 2022, shipments abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -10.7% to X tons, falling for the second consecutive year after four years of growth. In general, exports, however, showed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of 35% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, propyl and isopropyl alcohol exports fell to $X in 2022. Overall, exports, however, recorded notable growth. The pace of growth appeared the most rapid in 2020 when exports increased by 78% against the previous year. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, China (X tons), distantly followed by South Korea (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) represented the main exporters of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol), together achieving 90% of total exports. The following exporters - Singapore (X tons), India (X tons) and Turkey (X tons) - together made up 7.1% of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +47.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest propyl and isopropyl alcohol supplying countries in Asia were China ($X), Taiwan (Chinese) ($X) and South Korea ($X), with a combined 70% share of total exports.

Among the main exporting countries, China, with a CAGR of +43.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, approximately mirroring the previous year. Overall, the export price continues to indicate a slight decline. The growth pace was the most rapid in 2020 an increase of 46% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Singapore ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+1.8%), while the other leaders experienced a decline in the export price figures.

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

Imports in Asia

In 2022, purchases abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -2.1% to X tons, falling for the second consecutive year after six years of growth. Total imports indicated a perceptible expansion from 2012 to 2022: its volume increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.1% against 2020 indices. The growth pace was the most rapid in 2019 when imports increased by 11% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports fell modestly to $X in 2022. Total imports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -9.3% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 35%. 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, India (X tons) and China (X tons) were the key importers of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) in Asia, together recording approx. 38% of total imports. Malaysia (X tons) took a 7.6% share (based on physical terms) of total imports, which put it in second place, followed by Indonesia (6.6%), Thailand (5.7%), Turkey (5.6%), Singapore (5.1%), the United Arab Emirates (5%), the Philippines (4.6%) and Taiwan (Chinese) (4.6%).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +12.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Malaysia ($X) were the countries with the highest levels of imports in 2022, together comprising 44% of total imports.

In terms of the main importing countries, India, with a CAGR of +9.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, dropping by -2.2% against the previous year. In general, the import price showed a slight slump. The pace of growth was the most pronounced in 2017 an increase of 24%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Malaysia ($X per ton), while the United Arab Emirates ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+2.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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