Propylene Prices

Propylene Prices September 2024

The propylene prices in the United States for Q3 2024 reached 1130 USD/MT in September. The region faced supply issues and increased demand, with maintenance shutdowns and delays tightening availability. July saw prices surge with higher feedstock costs. Furthermore, September showed a dip due to decreased automotive sector orders, but an overall upward trend remained.

The price trend for propylene in Japan for Q3 2024 settled at 825 USD/MT in September. The market was marked by fluctuating prices, initially pushed higher by supply shortages and logistical issues. However, by September, with South Korea's plants resuming operations, oversupply in the region pressured prices downward, signaling a softening market stance as the quarter ended.

In Germany, the propylene prices for Q3 2024 reached 975 USD/MT in September. The market experienced price variations driven by economic uncertainties and limited downstream demand. The market saw a mid-quarter price rebound influenced by freight costs, while resuming plant operations maintained supply in September. The quarter ended stable with no significant price shifts.

The price trend for propylene in Saudi Arabia for Q3 2024 settled at 830 USD/MT in September. The market experienced a downward trend due to cautious market behavior and seasonal inactivity in July. August saw logistical challenges briefly bolster prices, but by September, falling crude oil prices and reduced polypropylene demand brought renewed declines, marking a bearish quarter close.

In Brazil, the propylene prices for Q3 2024 reached 1130 USD/MT in September. The market witnessed significant increases in prices due to surging crude oil costs and logistical challenges, especially in August. While initial demand was low, disruptions led to higher prices. September’s resumed plant operations eased supply pressure, but the quarter maintained its overall upward trend.

Propylene Prices June 2024

The propylene prices in the United States for Q2 2024 reached 1040 USD/MT in June. The market began with a drop in prices due to the restart of PDH units after Q1 maintenance, boosting supply. This shifted as demand surged, spurred by the packaging sector and summer driving season. Geopolitical conflicts and disruptions also led to increased freight charges and tight supply.

The price trend for propylene in Japan for Q2 2024 settled at 825 USD/MT in June. The market followed a mixed trend. April's low prices were due to increased supply across Asia and reduced demand. By June, the market rebounded as seasonal demand from sectors, such as textiles and packaging, rose, coinciding with heightened buying interest and the onset of summer.

In Brazil, the propylene prices for Q2 2024 reached 1015 USD/MT in June. The market shifted from bearish to bullish. Initially, prices fell due to increased imports from the US after a supply surge. However, severe weather in June disrupted logistics, tightening supply and driving prices higher, showcasing notable volatility influenced by regional and external conditions.

Propylene Prices December 2023

The propylene prices in the Mexico for Q4 2023 reached 964 USD/MT in December. In Mexico, propylene prices surged in the fourth quarter due to increased demand and plant shutdowns affecting supply. High inflation and a slowing manufacturing sector influenced market dynamics, leading to fluctuating prices. By the end of December, prices moderated as traders adjusted to global market conditions.

The price trend for propylene in South Korea for Q4 2023, reached 801 USD/MT in December. South Korea's propylene market witnessed a decline in November due to lower demand and a drop in crude oil prices. The market experienced a slight price increase in December, supported by new inventories and some recovery in demand. Overall, the supply remained adequate, but downstream demand was subdued.

The price trend for propylene in Germany for Q4 2023, reached 833 USD/MT in December. In Germany, propylene prices rose at the beginning of Q4 2023 due to high production costs and demand from various industries. However, by December, prices fell as the market adjusted to lower downstream demand and an oversupply situation. The price fluctuations reflected the challenges of balancing supply with shifting demand.

The price trend for propylene in Saudi Arabia for Q4 2023, reached 605 USD/MT in December. Saudi Arabia experienced a significant drop in propylene prices during Q4 2023, influenced by lower crude oil prices and increased OPEC exports. The market witnessed a decrease in prices due to these global factors, reflecting the impact of international oil market trends on regional pricing.

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 the current price but also provides insights into propylene historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into propylene 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

Q3 2024:

During Q3 2024, Europe witnessed varied propylene pricing. Early in the quarter, prices fell amid lower downstream demand, economic uncertainties, and limited customer interest in polymers. Manufacturers optimized production to manage rising freight expenses. By August, increased freight charges influenced price rebounds despite limited urgency from buyers to restock. Furthermore, September saw stability, with supply bolstered by plant restarts post-maintenance. Additionally, Germany reflected the most substantial changes, following broader regional trends, ending the quarter on a steady note with no major price shifts.

Q2 2024:

Q2 2024 was challenging for Europe’s propylene market, dominated by a consistent decline in prices. This was fueled by subdued demand from the plastics and automotive sectors, exacerbating an already oversupplied market. In addition, producers struggled with high inventory levels, further pressured by low economic activity despite efforts by the European Central Bank to stimulate growth. Moreover, seasonality failed to boost demand, with summer driving season expectations unmet due to economic lethargy and increased imports from the MEA and Asia. Germany particularly reflected these challenges, experiencing significant price drops amid surplus inventories and sluggish investment.

Q4 2023:

The market in Europe Q4 2023 experienced notable volatility. Prices increased early in the quarter due to high production costs and expensive imports, particularly impacting the German market. This was driven by rising upstream material costs and strong demand from various sectors. However, as the quarter progressed, the market faced a downturn due to an oversupply and lower demand from downstream industries. By December, prices fell as the market adjusted to reduced demand and high supply. The overall trend highlighted the challenges of balancing supply with fluctuating demand and cost pressures.

This analysis can be extended to include detailed propylene price information for a comprehensive list of countries.

North America Propylene Price

Q3 2024:

Throughout the third quarter of 2024, propylene prices in North America showed a significant rise influenced by supply strains and amplified demand from related industries. Shutdowns for maintenance, unexpected production outages, and delayed shipments contributed to tightened availability. In addition to this, higher feedstock costs, especially propane, further escalated prices in July. Market sentiment remained positive, with renewed consumer confidence boosting orders, especially in the polypropylene industry. Despite a slowdown in demand from the automotive sector in September, which led to lower quotations, prices still recorded a slight rise by the end of the quarter.

Q2 2024:

Throughout the second quarter of 2024, the North American propylene market demonstrated notable fluctuations, moving from an initial drop in prices to a subsequent bullish sentiment. The price decrease in April was attributed to a boost in supply following the restart of one of two PDH units that had been under maintenance in Q1. This was followed by a surge in demand, especially from packaging sectors during the summer driving season, paired with geopolitical strains impacting key trade routes and elevated freight charges. Moreover, operational shutdowns at petrochemical plants led to lower inventory levels, compounded by weather-related disruptions from an active hurricane season in June.

Q4 2023:

In the fourth quarter of 2023, the market witnessed significant price fluctuations across the region. Early in the quarter, prices surged due to heightened demand from the high-priced imports and downstream polypropylene industry, particularly from the United States. Disruptions caused by plant shutdowns in Houston and Texas impacted market shipments. Additionally, high inflation and a decline in manufacturing sector in Mexico affected the chemical industry, leading to increased prices in the region. Despite these challenges, cautious trading and high import costs helped moderate the market. By December, prices had stabilized as traders adjusted their strategies in response to global uncertainties and overproduction.

Specific propylene historical data within the United States and Canada can also be provided.

Middle East and Africa Propylene Price

Q3 2024:

In Q3 2024, the MEA region experienced declining propylene prices, with significant impacts noted in Saudi Arabia. Market participants showed caution, rolling over price quotations in July as weak downstream demand and a seasonal summer lull curbed activity. Furthermore, August brought a shift with logistical challenges and freight increases pushing prices slightly higher. September witnessed further price declines, driven by reduced crude oil prices and limited polypropylene demand. The overall sentiment was bearish, with minor downward trends marking the end of the quarter.

Q2 2024:

In the MEA region, propylene prices remained stable throughout Q2 2024, despite occasional disruptions from geopolitical issues. This equilibrium stemmed from a balanced supply-demand scenario, underpinned by prudent trading strategies. Furthermore, production costs declined in May due to lower crude oil prices, though temporary hikes occurred in June due to increased freight charges and plant maintenance turnarounds. Additionally, Saudi Arabia saw the most pronounced price adjustments, influenced by seasonal demand fluctuations driven by festivals like ramadan, which brought brief but anticipated changes in trading volumes.

Q4 2023:

In the fourth quarter of 2023, the market in the Middle East and Africa remained stable. Consistent supply and steady demand characterized the market, although global factors influenced pricing. A significant price decrease in Saudi Arabia was noted, driven by falling crude oil prices and increased OPEC exports. The market saw a reduction in prices due to these factors, with the overall trend reflecting the impact of global oil market dynamics and regional supply-demand conditions. The stability in supply was contrasted by the fluctuations in pricing driven by broader market influences.

In addition to region-wise data, information on propylene prices for countries can also be provided.

Asia Pacific Propylene Price

Q3 2024:

Propylene prices in the Asia Pacific region saw fluctuations during Q3 2024, initially rising in July due to container shortages and increased freight costs, alongside supply constraints from maintenance activities. Typhoon Gaemi and other adverse weather conditions impacted industrial operations in several areas in August. Furthermore, by September, the market turned bearish due to weakened demand from the polypropylene sector, though Japan's supply remained steady with South Korea’s plants resuming operations. This oversupply in Japan affected prices, leading to a slight dip towards the end of the quarter.

Q2 2024:

The second quarter of 2024 saw a varied trajectory for propylene prices in the Asia Pacific region. April marked a period of soft prices due to heightened supply and reduced buying interest, bolstered by the restart of multiple PDH plants amid falling propane prices. The market shifted in June, however, as active buying in Japan spurred price recoveries. This resurgence was driven by seasonal demand from industries such as textiles and packaging, aligning with the onset of summer, a traditionally peak period for propylene consumption. Furthermore, uncertainties around downstream procurement and changing priorities also influenced regional market dynamics.

Q4 2023:

The market faced a turbulent fourth quarter of 2023. In October, demand was bolstered by colder weather, driving up prices. However, by November, prices declined due to a fall in crude oil prices and a surplus in upstream inventories. The market experienced reduced demand from downstream industries, which further pressured prices. As December progressed, a slight increase in prices was observed due to new inventories and a minor uptick in demand. South Korea managed a moderate propylene supply, yet low demand from the plastic sector impacted the market. The overall trend reflected ongoing supply-demand imbalances and fluctuating crude oil prices.

This propylene price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Propylene Price

Q3 2024:

Latin America's propylene market in Q3 2024 recorded notable price hikes, with Brazil being particularly affected. Higher production costs driven by rising crude oil prices set the stage for increased rates in July. In addition, the market faced logistical hurdles, including heightened freight rates and container shortages impacted by weather disruptions in the USA, leading to stronger seller positioning in August. September brought some relief as resumed plant operations created an oversupply, though the quarter still closed on an upward trajectory, underlining consistent price growth in the region.

Q2 2024:

The Latin America propylene market in Q2 2024 showcased a shift from bearish to bullish sentiment. In April, propylene prices in Brazil dipped due to an increased supply influx from the US, following eased availability in the preceding months. However, adverse weather conditions disrupted logistics in June, creating tighter supply and driving prices up. Additionally, Brazil experienced the most significant price variations, mirroring regional dynamics shaped by supply chain challenges, rising production expenses, and fluctuating demand. Overall, the market displayed a positive tilt by quarter-end, highlighting the region's volatility influenced by both external and local factors.

Q4 2023:

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.

Propylene Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Propylene Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” 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.

Report Coverage

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.