Propylene Oxide Prices December 2023
Product
|
Category |
Region |
Price |
Propylene Oxide |
Feedstock |
USA |
1305 USD/MT |
Propylene Oxide |
Feedstock |
China |
1307 USD/MT |
Propylene Oxide |
Feedstock |
Europe |
1625 USD/MT |
The price of propylene oxide in the United States for Q4 2023 reached 1305 USD/MT in December. The country’s focus on substantial energy transition policies, propel by Inflations Reductions Act, was driving the demand for propylene oxide.
The price of propylene oxide in Asia Pacific showed mixed sentiment, characterized by stability in October and November, followed by an abrupt fall in December. The trend was influenced by negative costs from feedstock propylene and low energy prices. These factors impacted the supply rates in China, resulting in the price of propylene oxide reaching 1307 USD/MT in the country.
In Europe, propylene oxide prices, reached 1625 USD/MT, influenced by the EU policies promoting the adaptation to substantial energy and the signs of recovery from resident construction chemical markets, with enhancing purchases of propylene oxide derivatives.
Propylene Oxide Price Trend, Market Analysis, and News
IMARC’s newly published report, titled Propylene Oxide Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data, offers an in-depth analysis of propylene oxide pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.
It encompasses an in-depth review of spot prices at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of price trends across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.
The report examines the elements influencing propylene oxide price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.
Propylene Oxide Market Analysis
The global propylene oxide market size reached US$ 21.0 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 32.4 Billion, at a projected CAGR of 4.80% during 2023-2032.
- The propylene oxide is largely utilized in the production of polyurethanes, which has extensive applications in foam insulation, bedding, and furniture.
- Stringent environmental regulations in several countries regrading emissions and sustainable practices are driving the market dynamics of propylene oxide.
- As per IMARC Group’s report, the global propylene glycol market size reached US$ 4.3 Million in 2023. Propylene oxide is gaining traction as a key raw material for producing propylene glycol, which is used as a solvent, antifreeze agent, and humectant in industries, such as pharmaceuticals, cosmetics, food processing, and automotive fluids.
- Ongoing research and development (R&D) activities are focusing on enhancing production processes, improving product quality, and reducing production costs of propylene oxide.
- The market share is also expanding due to propylene oxide's increased demand in the chemical, automotive, and electronic sectors, owing to rising industrialization and urbanization in emerging nations.
- The market is propelling due to the growing employment of propylene oxide in the synthesis of pharmaceutical intermediates and active pharmaceutical ingredients (APIs). It serves as a building block to produce antibiotics, antifungal agents, anesthetics, and other pharmaceutical compounds.
- A positive trend for the market is also being created by the increased use of propylene oxide in the wastewater treatment and disinfection applications, to control microbial growth and improve water quality. As per the United Nation (UN) report of 2021, globally 56% of household wastewater flows were safely treated in 2020.
- The growing shift towards bio-based propylene oxide, produced from renewable feedstocks like biomass or waste materials, is supporting the market growth.
- The increasing adoption of propylene oxide in the petrochemical industry as a fuel additive to improve the octane rating and combustion characteristics of gasoline, enhancing engine performance and reducing emissions.
- The growing demand for aerosol products, such as spray paints, insecticides, air fresheners, and personal care products is bolstering the growth of the market.
Propylene Oxide News
The report covers the latest developments, updates, and trends impacting the global propylene oxide market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in propylene oxide production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.
Latest developments in the propylene oxide industry:
- In 2022, AGC Chemicals Americas announced its collaboration with Deveraux Specialties due to their presence in the cosmetics and personal care industries and their focus on natural, functional and future-friendly products.
- In 2024, BASF Monomers and Xuchuan Chemical further strengthen strategic partnership to reduce carbon emissions in the production of polyurethanes for the industry.
Product Description
Propylene oxide (PO), formally 2-methyl oxirane, is a low-boiling liquid useful for making many commercial materials. It appears as a clear, colorless, volatile liquid with an ethereal odor. It can be produced through several technologies, like the Shell proprietary 'SM/PO' process. Due to its excellent chemical properties, it is known as a universal reagent.
The initial method for producing PO was chlorinating propylene in water to give a mixture of chlorohydrins, followed by dehydrochlorination with potassium hydroxide. Subsequently, this process developed was the direct result of oxidizing propylene with an organic hydroperoxide.
Propylene oxide is used in the production of polyethers and propylene glycol. It is also utilized in the fumigation of foodstuffs and plastic medical instruments. Besides this, it is employed in the production of di propylene glycol and glycol ethers, as herbicides, as solvents, and in the preparation of lubricants, surfactants, and oil demulsifiers.
Regional Coverage
The report provides a detailed analysis of the propylene oxide market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the price trends.
Global Propylene Oxide Price
The report offers a holistic view of the global propylene oxide pricing trends, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level.
Europe Propylene Oxide Price
The European region has experienced a mixed sentiment of price trend owing to force majeure and stoppage of the Repsol Quimica plant in Spain. The demand related to construction remained subdued, with pending orders accumulating. However, new procurements for propylene oxide-derived polyurethanes showed an increase from the commercial construction sector, slowing down gradually by the end of the quarter amidst strong winter and weakening of the supply chain due to lower logistical capacities seasonally.
This analysis can be extended to include detailed propylene oxide price information for a comprehensive list of countries.
Region |
Countries Covered |
Europe |
Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
North America Propylene Oxide Price
In North America, the propylene oxide market has witnessed negative cost provided by feedstock propylene, along with lower energy prices. Another two derivatives volume of propylene oxide is automotive and polymer sectors. By the end of the quarter, prices started rising due to Panama and Suez Crisis and container and shipping shortages in the region.
Specific data on propylene oxide prices within the United States and Canada can also be provided.
Region |
Countries Covered |
North America |
United States and Canada |
Middle East and Africa Propylene Oxide Price
The report explores the propylene oxide pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
In addition to region-wise data, information on propylene oxide prices for countries can also be provided.
Region |
Countries Covered |
Middle East & Africa |
Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Asia Pacific Propylene Oxide Price
The propylene oxide pricing in the Asia Pacific region is falling as the construction related demand remained low with pending orders accumulating new procurement for propylene oxide derived polyurethanes. The spending of individuals remained on the low end amidst high financial debts marginally offset by gain in consumption of India and Japan.
This analysis can be further extended to include detailed propylene oxide prices for a comprehensive list of countries within the region.
Region |
Countries Covered |
Asia Pacific |
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America Propylene Oxide Price
The analysis of propylene oxide prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.
This comprehensive review can be extended to include specific countries within the region.
Region |
Countries Covered |
Latin America |
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
Report Coverage
Key Attributes |
Details |
Product Name |
Propylene Oxide |
Report Features |
Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Price Analysis, and Segment-Wise Assessment. |
Currency/Units |
US$ (Data can also be provided in local currency) or Metric Tons |
Region/Countries Covered |
The current coverage includes analysis at the global and regional levels only.
Based on your requirements, we can also customize the report and provide specific information for the following countries:
Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand*
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece*
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru*
Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco*
*The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
Information Covered for Key Suppliers |
- Company Overview
- Business Description
- Product Portfolio
- Recent Trends and Developments
|
Customization Scope |
The report can be customized as per the requirements of the customer |
Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
- Scope
- Historical Data for the Current Month
- Forecast for Next Month
- Total Deliverables Per Year: 12 (One Per Month)
- Includes: One PDF and Excel datasheet per month, Post Purchase Analyst Support throughout the year
Plan B: Quarterly Updates - Annual Subscription
- Scope
- Historical Data for the Current Quarter
- Forecast for Next Quarter
- Total Deliverables Per Year: 4 (One Per Quarter)
- Includes: One PDF and Excel datasheet per Quarter, Post Purchase Analyst Support throughout the year
Plan C: Biannually Updates - Annual Subscription
- Scope
- Historical Data for the Current Half
- Forecast for the Next Half
- Total Deliverables Per Year: 2 (One Per 6 Months)
- Includes: One PDF and Excel datasheet per Half, Post Purchase Analyst Support throughout the year
|
Post-Sale Analyst Support |
360-degree analyst support after report delivery |
Delivery Format |
PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders:
- IMARC’s report presents a detailed analysis of propylene oxide pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
- The study examines factors affecting propylene oxide price volatility, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
- The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
- IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights, ensuring they remain at the forefront of the propylene oxide industry.