The compound growth rate of export volume in the past five years is 2%
Since 2017, the export volume of propylene glycol in China has shown a trend of increasing year by year, and only in 2020, the export volume has decreased in a narrow range. The domestic propylene glycol production capacity is relatively excess, and the domestic supply sources are actively seeking new demand growth points. However, due to the limitation of the production process of the domestic supply sources, the export direction of the domestic propylene glycol products is mainly the demand for low specifications such as antifreeze and deicing agents.
Imports dropped significantly in 2021
In the past five years, the domestic downstream daily chemical, food, pharmaceutical and other industries still maintain a high degree of dependence on imported high-quality propylene glycol. At the same time, the expansion of foreign factories has led to an increase in the supply of goods entering China. However, the import volume of propylene glycol in China in 2021 will decrease compared with that in 2020. The main reason is that in addition to the increase in domestic production and the high international price, the increase in international sea freight prices has also suppressed some import demand.
There were no major changes in the import and export structure of propylene glycol in 2021
In 2021, the number of domestic propylene glycol exporting countries and regions will reach more than 100, of which the largest export volume is Russia, followed by India and Turkey. The main export trading partners are no different from 2020.
From the perspective of import trading partners, the main importing countries and regions are Thailand, South Korea, Saudi Arabia and the United States. However, compared with 2020, the proportion of imports to the United States in 2021 will decrease, and will be overtaken by South Korea and Saudi Arabia, and the proportion will drop from second to fourth.