The average price of propylene amounted to some 997 U.S. dollars per metric ton in 2022, up from 983 dollars per metric ton one year earlier. During 2022, monthly propylene prices also presented a mostly increasing trend, peaking in March of that year at 1,317 dollars per metric ton.
Production and uses of propylene
Propylene, also known as propene, ranks as the second most-consumed primary petrochemical worldwide, only after ethylene. In 2021, propylene accounted for 22 percent of the global primary petrochemical consumption. Most of the propylene produced is used to manufacture polypropylene, one of the most common thermoplastic materials used today. The petrochemical compound is also used extensively as a building block to produce diverse chemicals such as isopropyl alcohol, propylene oxide, acrylonitrile, and acrylic acid. In 2020, the global production capacity of propylene stood at 133 million metric tons.
Polypropylene market
The market volume of polypropylene is forecast to follow an increasing trend during the next years, reaching approximately 100 million metric tons by 2029. Similarly, the market value of the compound is expected to increase by more than 30 percent in 2029 in comparison with 2021. Contrary to the development of the price of propylene during the last year, the average price of polypropylene in 2022 showed a small decrease in comparison with 2021.
Price of propylene worldwide from 2017 to 2022
(in U.S. dollars per metric ton)
Characteristic
Price in U.S. dollars per metric ton
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Krungsri Research. (June 6, 2022). Price of propylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton) [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1170576/price-propylene-forecast-globally/
Krungsri Research. "Price of propylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton)." Chart. June 6, 2022. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1170576/price-propylene-forecast-globally/
Krungsri Research. (2022). Price of propylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton). Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1170576/price-propylene-forecast-globally/
Krungsri Research. "Price of Propylene Worldwide from 2017 to 2022 (in U.S. Dollars per Metric Ton)." Statista, Statista Inc., 6 Jun 2022, https://www.statista.com/statistics/1170576/price-propylene-forecast-globally/
Krungsri Research, Price of propylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton) Statista, https://www.statista.com/statistics/1170576/price-propylene-forecast-globally/ (last visited July 22, 2024)
Price of propylene worldwide from 2017 to 2022 (in U.S. dollars per metric ton) [Graph], Krungsri Research, June 6, 2022. [Online]. Available: https://www.statista.com/statistics/1170576/price-propylene-forecast-globally/