Asia: Propene Market 2024

Propene Market Size in Asia

The Asian propene market stood at $X in 2022, flattening at the previous year. Overall, consumption saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the market value increased by X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Propene Production in Asia

In value terms, propene production totaled $X in 2022 estimated in export price. In general, production, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Propene Exports

Exports in Asia

In 2022, propene exports in Asia contracted to X tons, waning by X% against the previous year's figure. In general, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, propene exports fell rapidly to $X in 2022. Over the period under review, exports recorded a noticeable reduction. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, South Korea (X tons) represented the major exporter of propene (propylene), generating X% of total exports. Taiwan (Chinese) (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Japan (X%) and Saudi Arabia (X%). Thailand (X tons), Malaysia (X tons) and the Philippines (X tons) took a minor share of total exports.

South Korea was also the fastest-growing in terms of the propene (propylene) exports, with a CAGR of X% from 2012 to 2022. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. The Philippines, Malaysia and Thailand experienced a relatively flat trend pattern. By contrast, Japan (X%) and Saudi Arabia (X%) illustrated a downward trend over the same period. While the share of South Korea (X p.p.) and Taiwan (Chinese) (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Japan (X p.p.) and Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Korea ($X) remains the largest propene supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

In South Korea, propene exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, shrinking by X% against the previous year. In general, the export price showed a noticeable contraction. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Philippines ($X per ton), while Japan ($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 Philippines (X%), while the other leaders experienced mixed trends in the export price figures.

Propene Imports

Imports in Asia

In 2022, approx. X tons of propene (propylene) were imported in Asia; reducing by X% on 2021. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, propene imports fell to $X in 2022. Over the period under review, imports continue to indicate a noticeable decline. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

China dominates imports structure, reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Taiwan (Chinese) (X tons), Indonesia (X tons) and Japan (X tons), together committing a X% share of total imports. Singapore (X tons), South Korea (X tons) and Thailand (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of imports of propene (propylene). At the same time, Thailand (X%), Singapore (X%) and Japan (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of X% from 2012-2022. By contrast, Indonesia (X%), Taiwan (Chinese) (X%) and South Korea (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Singapore, Japan and Thailand increased by X, X, X and X percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported propene (propylene) in Asia, comprising X% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to X%. In the other countries, the average annual rates were as follows: Taiwan (Chinese) (X% per year) and Indonesia (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, with a decrease of X% against the previous year. Over the period under review, the import price showed a pronounced downturn. The most prominent rate of growth was recorded in 2017 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Indonesia ($X per ton) and Singapore ($X per ton), while Thailand ($X per ton) and China ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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