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Korea
Thailand
Australia
India
Germany
Saudi Arabia
Turkey
United StatesQ1 2025
In Q1 2025, both South Korea and Thailand experienced notable declines in PPG export prices, reflecting a downward trend in the regional market. South Korea’s price dropped to USD 1408/MT, a sharp 6.96% decrease, while Thailand saw a slightly smaller decline of 6.61%, ending at USD 1635/MT. Thailand maintained a higher price point, suggesting stronger demand or cost structures despite the fall. This simultaneous price contraction across both countries could indicate broader market pressures such as raw material cost shifts or regional demand slowdown impacting export competitiveness.
Q4 2024
During Q4 2024, PPG export prices decreased in both South Korea and Thailand but at different rates. South Korea’s prices fell significantly by 9.62% to USD 1513/MT, indicating a steep correction after earlier highs. Thailand’s prices dipped marginally by 0.94% to USD 1751/MT, showcasing more price resilience possibly due to supply chain efficiencies or stronger local demand. The sharp contrast in the scale of decline hints at varying market dynamics, with South Korea facing stronger pricing pressure, potentially from inventory adjustments or competitive export environments.
Q3 2024
In Q3 2024, both countries saw modest price increases in PPG exports, signaling a temporary market rebound. South Korea’s price rose by 4.29% to USD 1674/MT, while Thailand experienced a marginal 0.21% increase to USD 1768/MT. South Korea’s sharper rise could reflect recovery in domestic production costs or improved export demand. Conversely, Thailand’s near-flat growth suggests market stabilization rather than strong upward momentum. This quarter highlights divergent market strengths, with South Korea capitalizing on a recovery phase, while Thailand maintains steady pricing amidst regional market fluctuations.
Q2 2024
Q2 2024 showed a mixed price trend for PPG exports. South Korea posted a slight 0.75% increase to USD 1605/MT, indicating mild growth in export pricing, potentially driven by stable demand or cost inflation. In contrast, Thailand experienced a minor 0.21% price decrease to USD 1764/MT, suggesting slight pressure despite historically higher prices. This divergence may be linked to country-specific factors such as differing raw material sourcing costs or competitive positioning in export markets. The contrasting price movements illustrate how localized market forces impact regional export dynamics even within the same commodity segment.
Q1 2024
In Q1 2024, PPG export prices declined in both South Korea and Thailand, with South Korea’s price decreasing by 3.19% to USD 1593/MT and Thailand’s price dropping by 2.87% to USD 1768/MT. Thailand continued to hold a premium pricing position, reflecting either better product differentiation or supply chain advantages. The concurrent decreases may suggest seasonality effects or initial signs of market oversupply. These early-year reductions set the tone for subsequent quarters, underscoring the volatile nature of PPG pricing influenced by both global demand trends and regional export competitiveness.
Q1 2025
In Q1 2025, India’s PPG import price from South Korea dropped to USD 1519/MT (CIF Nhava Sheva), marking a significant decline of 6.34%. This continued the downward trend from the previous quarter, reflecting ongoing price corrections in the market. The reduction may indicate easing raw material costs or weaker demand in India’s construction and industrial sectors. After the sharp fall in Q4 2024, the moderation in Q1 suggests the market is adjusting to supply-demand balances, possibly influenced by global economic shifts affecting import volumes and pricing dynamics.
Q4 2024
Q4 2024 saw a sharp decrease in India’s PPG import prices from South Korea, dropping 10.20% to USD 1622/MT (CIF Nhava Sheva). This steep decline followed a strong upward trend earlier in the year, signalling potential oversupply or weakening demand pressures during the quarter. The significant price correction could also be due to adjustments in freight costs or currency fluctuations impacting CIF pricing. This quarter represents a critical turning point, with importers likely reassessing procurement strategies amid shifting global trade conditions.
Q3 2024
In Q3 2024, India experienced a robust increase in PPG import prices from South Korea, rising by 6.30% to USD 1806/MT (CIF Nhava Sheva). This upward movement highlights strong demand or constrained supply conditions, possibly driven by industrial growth and infrastructure projects in India. The price surge reflects tightening market fundamentals, with importers likely facing cost pressures. This quarter marked the peak price point before subsequent corrections, indicating a period of heightened activity and competitive bidding for PPG imports.
Q2 2024
During Q2 2024, India’s PPG import prices from South Korea saw a modest increase of 1.26%, reaching USD 1699/MT (CIF Nhava Sheva). This slight rise suggests steady demand amid improving economic conditions, with prices stabilizing after prior fluctuations. The gentle growth may be attributed to consistent industrial output and supply chain adjustments, maintaining balanced import levels. This period reflects cautious optimism in the market, where importers managed to absorb moderate cost increases without significant disruptions.
Q1 2024
In Q1 2024, India’s PPG import prices from South Korea remained relatively stable at USD 1678/MT (CIF Nhava Sheva), with a negligible decrease of 0.04%. This stability indicates a balanced supply-demand scenario early in the year, as importers maintained steady procurement despite minor market uncertainties. The minimal change suggests that price pressures were limited, likely due to effective inventory management and predictable trade conditions. This quarter set the foundation for the subsequent price volatility observed throughout the year.
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Energy Price Surge: The conflict led to a sharp rise in natural gas and crude oil prices, increasing production costs for PPG.
Raw Material Supply Disruptions: Limited availability of key feedstocks like propylene oxide due to supply chain interruptions.
Logistics: Transportation delays and higher freight costs disrupted the delivery of raw materials and finished products.
Regional Trade Imbalances: The conflict affected trade routes, creating regional supply-demand mismatches and price volatility.
Market Uncertainty: Geopolitical instability caused speculative trading, further amplifying price fluctuations in the PPG market.
Supply Chain Disruptions: Lockdowns and restrictions disrupted the supply of key feedstocks like propylene oxide, leading to inconsistent production.
Demand Variability: Fluctuating demand from industries such as automotive and construction, combined with increased demand for PPG in sanitizers and cleaning products, created market imbalances.
Logistical Challenges: Global transportation bottlenecks and rising freight costs impacted the availability and pricing of PPG.
Production Shifts: Some manufacturers prioritized essential goods, reducing PPG production capacity for non-essential applications.
Economic Uncertainty: Market volatility and reduced industrial activity in many sectors led to unpredictable pricing trends.
Trade Wars: The US-China trade conflict led to increased tariffs on raw materials like propylene oxide, raising production costs for PPG.
Sanctions and Embargoes: Restrictions on key exporting countries disrupted the supply chain for PPG feedstocks, causing price volatility.
Currency Fluctuations: Geopolitical instability contributed to currency devaluation in some regions, increasing import costs for raw materials.
Supply Chain Disruptions: Tensions affected transportation and logistics, delaying deliveries and creating regional supply-demand imbalances.
Speculative Market Activity: Political uncertainty fueled speculative trading, amplifying price instability in the PPG market.
This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable polypropylene glycol pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.
Molecular Weight[g/mol]
CAS No
HS Code
Molecular Formula
Polypropylene Glycol is a versatile polyether synthesized from propylene oxide as the primary feedstock. This colourless to pale yellow liquid offers excellent lubricity, moisture retention, and low toxicity. Widely used in polyurethanes, functional fluids, and personal care products, PPG ensures superior performance in diverse applications such as foams, coatings, and de-icing solutions.
Packaging Type
Grades Covered
Incoterms Used
Synonym
PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Appearance | Light yellow liquid |
| Water Content (%) | 0.03 |
| pH (triol) | 6.4 |
| Acid value (mgKOH/g) | 0.012 |
| Hydroxyl value (mgKOH/g) | 112.2 |
| Viscosity (25 °C) | 145 |
Applications
Polypropylene Glycol is used mainly as a feedstock/intermediate to make other chemicals including:
The pricing of polypropylene glycol is influenced by several factors, including raw material costs such as propylene, fluctuations in supply and demand within industries like paints, coatings, and adhesives, as well as external elements like geopolitical events, trade tariffs, and energy prices. These factors combine to create variability in pricing depending on global economic conditions.
Regional production plays a significant role in polypropylene glycol pricing. Regions with high production, like Asia-Pacific, tend to have more competitive pricing due to local availability, whereas regions that rely on imports, such as North America and Europe, often face higher costs due to transportation fees, import duties, and potential supply chain disruptions.
The latest pricing trends for polypropylene glycol often reflect fluctuations in the cost of raw materials and changes in global supply chains. To secure better rates, procurement heads can consider locking in long-term contracts with suppliers, monitoring global price trends and indices, and optimizing bulk purchasing strategies to take advantage of volume discounts.
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