Eastern Asia: Propylene Oxide Market 2024

Propylene Oxide Market Size in Eastern Asia

The East Asian propylene oxide market was estimated at $X in 2023, approximately reflecting the previous year. Over the period under review, consumption, however, showed a noticeable curtailment. The level of consumption peaked at $X in 2012; however, from 2013 to 2023, consumption stood at a somewhat lower figure.

Propylene Oxide Production in Eastern Asia

In value terms, propylene oxide production expanded modestly to $X in 2023 estimated in export price. In general, production, however, enjoyed a perceptible increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Propylene Oxide Exports

Exports in Eastern Asia

In 2023, shipments abroad of methyloxirane (propylene oxide) increased by X% to X tons for the first time since 2019, thus ending a three-year declining trend. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, propylene oxide exports skyrocketed to $X in 2023. Overall, exports recorded a relatively flat trend pattern. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

South Korea dominates exports structure, reaching X tons, which was near X% of total exports in 2023. The following exporters - China (X tons) and Japan (X tons) - each finished at an X% share of total exports.

Exports from South Korea increased at an average annual rate of X% from 2012 to 2023. At the same time, China (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, Japan (X%) illustrated a downward trend over the same period. South Korea (X p.p.) and China (X p.p.) significantly strengthened its position in terms of the total exports, while Japan saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, South Korea ($X) remains the largest propylene oxide supplier in Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by China ($X), with a X% share of total exports.

In South Korea, propylene oxide exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: China (X% per year) and Japan (X% per year).

Export Prices by Country

In 2023, the export price in Eastern Asia amounted to $X per ton, growing by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2022 to 2023, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced a decline in the export price figures.

Propylene Oxide Imports

Imports in Eastern Asia

In 2023, after three years of decline, there was significant growth in purchases abroad of methyloxirane (propylene oxide), when their volume increased by X% to X tons. Overall, imports, however, continue to indicate a perceptible slump. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, propylene oxide imports declined to $X in 2023. In general, imports, however, continue to indicate a deep contraction. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

China represented the largest importer of methyloxirane (propylene oxide) in Eastern Asia, with the volume of imports amounting to X tons, which was near X% of total imports in 2023. Taiwan (Chinese) (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%).

Imports into China decreased at an average annual rate of X% from 2012 to 2023. At the same time, Taiwan (Chinese) (X%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of X% from 2012-2023. By contrast, South Korea (X%) illustrated a downward trend over the same period. While the share of Taiwan (Chinese) (X p.p.) and China (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of South Korea (X p.p.) displayed negative dynamics.

In value terms, the largest propylene oxide importing markets in Eastern Asia were China ($X), Taiwan (Chinese) ($X) and South Korea ($X), together comprising X% of total imports.

Taiwan (Chinese), with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in Eastern Asia stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the import price recorded a perceptible descent. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform