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Propylene Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data
Report Format: PDF+Excel | Report ID: SR112024A22643
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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 USD/MT in Q4 of 2023. 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 price of propylene at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of propylene price trend 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 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 impact the propylene price trend.
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, price forecast 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 propylene price trend.
Global Propylene Price
The report offers a holistic view of the global propylene pricing trends in the form of propylene price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of propylene but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.
The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed propylene demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
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 propylene historical data 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 propylene price analysis can be expanded to include 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, Propylene 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 |
|
| 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
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
|
| 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 trend, 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. The propylene price charts ensure our clients remain at the forefront of the 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.
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