Propylene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data

Propylene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data

Report Format: PDF+Excel | Report ID: SR112024A22643
Buy Now

Propylene Prices December 2023

Product
Category Region Price
Propylene Feedstock Mexico 964 USD/MT
Propylene Feedstock South Korea 801 USD/MT
Propylene Feedstock Germany 833 USD/MT
Propylene Feedstock Saudi Arabia 605 USD/MT


The price of propylene in Mexico for Q4 2023 reached 964 USD/MT in December. Mexico's economic activities were affected by high inflation and a slowdown in the manufacturing sector, impacting the operations of the chemical industry. The propylene polymer grade CFR Manzanillo in Mexico witnessed a 43% increase in prices from the previous quarter, with a -7% price decline in the second half of the quarter as compared to the first half.

The price trend for propylene in South Korea reached 801 in Q4 of 20223. The market witnessed a moderate supply, which was ample enough to satisfy domestic and international demand, but the demand was low from downstream plastic industries.

In Germany, propylene market prices reached 833 USD/MT in Q4 of 2023. During October, the market stood out with a slight increase in prices despite low demand from the downstream propylene glycol sector, driven by expensive imports from overseas and the influence of an optimistic market situation.

Saudi Arabia’s propylene prices accounted for 605 USD/MT in December 2023. There was a notable 6.7% decrease in prices during November. The decline in prices was parallel to the drop in crude oil prices, which played a crucial role in driving market growth.

Propylene Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Propylene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data”, offers an in-depth analysis of propylene 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 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 Price Trend

Propylene Market Analysis

The global propylene market size reached 123.5 Million Tons in 2023. By 2032, IMARC Group expects the market to reach 200.6 Million Tons, at a projected CAGR of 5.50% during 2023-2032.

  • There is a rise in the employment of propylene in the automotive sector due to its enhanced chemical and heat resistance properties. It is used in bumpers, chemical tanks, cable insulation, and gas cans. It serves as a thermoplastic binder component for natural fiber composites. It is also used with a variety of vehicle applications, such as door panels, console, seatbacks, and trunk liners. Apart from this, manufacturers are adopting propylene to decrease the weight of vehicles to make them more economically appealing while lowering the carbon footprint. Furthermore, the increasing adoption of vehicles among the masses worldwide due to rapid urbanization is catalyzing the demand for polypropylene. According to the Association of European Automobile Manufacturers (ACEA), around 85.4 Million motor vehicles were produced across the globe in 2022, an increase of 5.7% as compared to 2021.  
  • Propylene finds applications in the construction sector. It is thermally stabilized, ultraviolet (UV)-resistant, acid rain-resistant, and has a non-reflective surface. Its UV stability prevents color fade and brittleness. It is suitable for roofing sheets and insulation and can be easily molded to form roofing products. It is durable and can withstand daily wear and tear. Additionally, building wraps and air and moisture barrier membranes enhanced with propylene can decrease air intrusion and heat transfer, thereby increasing the energy efficiency of buildings. Besides this, there is a rise in the construction of residential and commercial spaces around the world.    
  • Moreover, propylene-based materials are widely utilized to produce adhesives. They can be used to repair all kinds of plastics. The rising demand for plastic materials in numerous sectors is contributing to the market growth.   
  • The propylene demand is further propelled by its utilization to produce polypropylene, a thermoplastic polymer that is widely used in food packaging due to its durability, heat resistance, and resistance to water and chemicals. In addition, there is an increase in the need for convenient and durable packaging solutions among individuals. 

Propylene News

The report covers the latest developments, updates, and trends impacting the global propylene 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 production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that shape the industry landscape.

Latest developments in the propylene industry:

  • In 23 February 2022, Braskem S.A. announced the expansion of its circular polymer portfolio to include two new polypropylene (PP) grades with post-consumer recycled (PCR) content.    
  • In 6 December 2022, ExxonMobil declared the successful startup of its new polypropylene production unit at the Polyolefins Plant in Baton Rouge, Louisiana.

Product Description

Propylene is a colorless gas with a faint petroleum-like odor. It is shipped as a liquefied gas under its own vapor pressure. It is produced by the cracking of propane or higher hydrocarbons in the presence of steam under conditions very like those outlined for ethylene. It is also recovered as a by-product of other refinery operations, principally from the fluid catalytic cracking (FCC) of gas oils and, to a lesser extent, from the volatile products of coking. It is a building-block chemical base for more complex chemicals, such as propylene oxide, acrylonitrile, cumene, and acrylic acid.  

Apart from this, propylene is used across various industries, such as the petrochemical industry, where it serves as a raw material during production. It is utilized as a feedstock for the manufacture of polypropylene.

Regional Coverage

The report provides a detailed analysis of the propylene 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 Price

The report offers a holistic view of the global propylene 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 Price

The European region experienced notable pricing fluctuations in Q4 of 2023, influenced by abundant availability of the product in the global market, and low demand from downstream industries in December, while the high production costs surged the pricing dynamics during October and November. Moreover, during October, the German market stood out with a slight increase in prices despite lowered demand from the downstream propylene glycol sector. 

This analysis can be extended to include detailed propylene 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 Price

In North America, the propylene market witnessed enhanced demand in the downstream PP industry and expensive imports from overseas, such as from the USA, during October and November 2023. In addition, a plant shutdown occurred at the INVISTA plant in Houston and Enterprise Products Partners L.P, Texas, from 1 Nov to 22 Nov 2023, impacting the shipments during this timeframe.

Specific data on propylene 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 Price

The propylene market in the Middle East and Africa (MEA) region showcased stability throughout Q4 of 2023, with consistent supply and demand from downstream industries. The market was influenced by ample global availability of products, low demand from the downstream plastic industry, and destocking activities in the region. Among the MEA countries, Saudi Arabia witnessed the most changes in propylene prices, with a notable 6.7% decrease in prices during November.

In addition to region-wise data, information on propylene 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 Price

The propylene pricing in the Asia Pacific region remained challenging on account of the ongoing supply-demand imbalance influenced by the price of crude oil. The market experienced a bearish trend, driven by the sharp decline in the price of its feedstock and crude oil. The decline in demand led to a rise in upstream inventory levels, contributing to the supply-demand imbalance within the propylene market. Besides this, the market showcased a low demand from downstream industries.

This analysis can be further extended to include detailed propylene 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 Price

The analysis of propylene 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
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 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 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 industry.

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Propylene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Purchase options
For 2 Deliverables, Billed Annually

For 4 Deliverables, Billed Annually

For 12 Deliverables, Billed Annually


Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More