Propylene Glycol Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Propylene Glycol in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Propylene Glycol Price Trend for the Q1 of 2024

Asia

During the said period of the year 2024, propylene glycol observed a very confined price trajectory as the prices mostly remained consolidated within narrow limits. However, since the changes were not very substantial, the trend appeared to be wavering. Initially, the inventories were already heavy as the poor performance of the previous months kept the stockpiles flooded.

Propylene Glycol Gas Price Chart

Please Login or Subscribe to Access the Propylene Glycol Price Chart Data
 

Further, the downstream sectors procured poorly because of the ongoing Chinese New Year holidays. Because of this, a mild downward tilt was noticed in the price graph in the early months of the quarter. However, to some respite for the market stakeholders, the consumers started showing feeble interest in the second half of the quarter. The rising crude oil prices, too, started pushing the price trend. Overall, muted market sentiments were witnessed for polyethylene glycol during the said period.

Europe

The price pattern of the European propylene glycol market was the reverse of that of the Asian markets. Given the uncertainties and ambiguity surrounding the region’s trade dynamics, the consumers opted to make early purchases as the year began. Because of this, a slight peak was seen in the region’s price graph of propylene glycol.

The incline in crude oil prices further fueled the manufacturing costs. However, since the downstream demands started dwindling, the suppliers were compelled to keep the market rates down to safeguard some domestic trade volumes. So, after an initial marginal incline, the propylene glycol prices fell in the latter phase of the quarter.

North America

During the first quarter of 2024, propylene glycol prices mirrored the variations in the European markets. The domestic trade was largely underwhelming for suppliers since the expected growth did not happen. The market did start on a stronger note in January, but the positive approach was very short-lived. Soon, the market trajectory shifted gears and started heading south. Since multiple war fronts were open in the world, international trade was already facing its consequences. And, thus the suppliers were having to rely more and more on the domestic consumers. Overall, a tepid price trajectory was seen.

Analyst Insight

According to Procurement Resource, given the current state of geopolitical tribulations, the international trade situation is not likely to be improved anytime soon. So, a similar wavering pattern in Propylene Glycol prices is expected to unfold in the coming months.

Propylene Glycol Price Trend for the October - December of 2023

Asia

The price trend of propylene glycol were observed to be oscillating within closed limits during the said period of the fourth quarter of the year 2023. The propylene glycol market behavior is greatly dependent on the variations in the price trend of propylene oxide. Since propylene glycol is produced from propylene oxide simply by hydrolyzing it by adding water, the price trend for both propylene glycol and its feedstock align closely with each other.

Quarter four began slowly for propylene glycol as the prices plunged initially because of the high inventory stocks. However, as the inventory stocks started vacating, the propylene glycol prices also started picking up by the end of the quarter. Overall, swift variations were witnessed in the propylene glycol price trend during the said period of Q4’23.

Europe

The European propylene glycol market was also influenced by its Asian counterpart as the prices fluctuated for the entire period here as well. The tepid demand patterns amidst various geopolitical tensions pushed the market trend for propylene glycol downwards. The feedstock costs also suggest a similar market run. Overall, mixed market trend were witnessed throughout the entire period.

North America

The American propylene glycol market was also witnessed to be struggling with dull demands just like the European market, as the prices followed along a similar downhill oscillating trajectory here as well. Though occasional market queries pushed the price graph up temporarily, however, the general market sentiments were largely weakened.

Analyst Insight

According to Procurement Resource, not much improvement is anticipated in Propylene Glycol price trend going forward as well. Given the current supply and demand dynamics the market trend are expected to follow along similar lines.

Propylene Glycol Price Trend for the July - September of 2023

Asia

Propylene glycol price trend followed an uncertain trajectory during Q3 of 2023. The propylene glycol market growth was halted during this quarter as the demand from the downstream industries gradually declined. In view of these poor rates of procurement, the manufacturers had to reduce their output numbers, resulting in the downfall of overall sentiments of the propylene glycol market. In addition to this, the overseas industries’ rate of procurement also looked weak as the Asian currency inclined as compared to the US dollar, and thus, this resulted in the fall in the rates of Asian exports of propylene glycol.

Europe

The downward route of propylene glycol price trend was in view of the weak demand from the end-user sectors and the fall in the number of new orders from the regional and overseas industries. Due to this limited demand, the stockpiles of propylene glycol rose by a significant margin, hampering the dynamics of propylene glycol prices.

In addition to this, consumer confidence also declined on account of rising inflation and poor economic growth in the European countries. The industrial sector in most European countries also faced the aftereffects of adverse market conditions, which were well depicted in the trajectory of propylene glycol prices.

North America

The North American market of propylene glycol stood stand-still as the combined negative effects of growing concerns about the region’s economy and the poor demand scenario of downstream industries played a significant role in structuring the propylene glycol price trend trajectory. The US economic conditions plunged and resulted in a rise in the rates of interest charged by the banks. In addition to this, the rise in the cost of crude oil prices also added to the existing struggles of the propylene glycol market.

Analyst Insight

According to Procurement Resource, the price trend of Propylene Glycol are expected to remain weak in the upcoming months as the global economy is not estimated to improve, which in turn will have a negative effect on the propylene glycol industrial demand.

Propylene Glycol Price Trend for the First Half of 2023

Asia

The Propylene Glycol market in the Asia-Pacific region witnessed extreme fluctuations in the first and second quarters of 2023. The prices were majorly affected by the low-cost support from the raw materials in the first few months.

However, in the subsequent months, the trend gained momentum with the improvement in the pharmaceutical and cosmetic sector in both domestic and international markets. But in the second quarter, the Indian government-imposed restrictions on the import of Propylene Glycol, which significantly impacted its price trend in the Asia-Pacific region.

Europe

The European market showcased a declining trajectory in terms of the prices of Propylene Glycol as the feedstock prices nosedived. In addition, from March, the supply chain in the region worked at its peak efficiency, ensuring the surplus availability of the product in the region while the demand from the pharmaceuticals and cosmetics sector subdued, and the region witnessed a low number of new orders. These factors, along with the cuts in the production rates, negatively influenced the Propylene Glycol market and thus led to a downward trajectory in the prices.

North America

In January, the prices of Propylene Glycol struggled with the falling prices of feedstock materials and fluctuating market sentiments. But from then, the consistent demand from the end-user industries helped the trend of Propylene Glycol to remain afloat, which eventually led to a decrease in the level of inventories, and the prices of Propylene Glycol rose sharply.

Additionally, the rising crude oil prices supported the feedstock prices, but in the latter months of the first quarter and throughout the second quarter, the downstream market struggled to maintain its demand dynamics, which led to the downfall in the prices.

Analyst Insight

According to Procurement Resource, the price trend of Propylene Glycol is expected to showcase a downward trajectory. The slow demand from the pharmaceuticals and cosmetics sectors will likely negatively impact the market.

Procurement Resource provides latest prices of Propylene Glycol. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.