Global production capacity of propylene 2018-2030
In 2023, global propylene production capacity reached 160.02 million metric tons, reflecting continued growth in this crucial petrochemical industry. The global production capacity of propylene is expected to continue to expand in the upcoming years, forecast to reach almost 208 million metric tons by 2030. This expansion underscores the increasing demand for propylene, a versatile chemical used in manufacturing various products from plastics to textiles. In 2022, propylene accounted for 22 percent of global primary petrochemical consumption, making it the second most widely used primary petrochemical in the world.
Which countries dominate global propylene trade?
As a result of its widespread use in various industries ranging from plastics to textiles, propylene constitutes a critical component of global trade. In 2023, the Netherlands led global propylene exports, shipping around 800 thousand metric tons worth approximately 814.44 million U.S. dollars. The United States ranked second, with exports valued at 498.74 million U.S. dollars. Meanwhile, China emerged as the largest importer of propylene, bringing in 2.4 million metric tons of propylene worth over 2.1 billion U.S. dollars. Germany ranked second among importers, with propylene imports valued at 621.43 million U.S. dollars.
Propylene price trends
In 2023, the average global price of propylene was about 865 U.S. dollars per metric ton, representing a decline of 132 U.S. dollars per metric ton when compared to the previous year. Between 2020 and 2024, the monthly price of propylene fluctuated significantly. The highest recorded price during this period occurred in March 2022, reaching 1,317 U.S. dollars per metric ton. By October 2024, the price had decreased to 805 U.S. dollars per metric ton.
