Asia: Glycerol Market 2024

Glycerol Market Size in Asia

In 2023, the Asian glycerol market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption, however, enjoyed a prominent increase. The level of consumption peaked at $X in 2022, and then fell markedly in the following year.

Glycerol Production in Asia

In value terms, glycerol production reached $X in 2023 estimated in export price. The total production indicated a strong increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2019 indices. The growth pace was the most rapid in 2016 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Glycerol Exports

Exports in Asia

After three years of growth, overseas shipments of glycerol decreased by X% to X tons in 2023. Over the period under review, exports, however, recorded a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of export peaked at X tons in 2022, and then reduced dramatically in the following year.

In value terms, glycerol exports declined sharply to $X in 2023. Overall, exports, however, enjoyed a remarkable increase. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2022, and then declined rapidly in the following year.

Exports by Country

Indonesia represented the largest exporter of glycerol in Asia, with the volume of exports accounting for X tons, which was near X% of total exports in 2023. It was distantly followed by Malaysia (X tons), generating a X% share of total exports. Thailand (X tons) and South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to glycerol exports from Indonesia stood at X%. At the same time, South Korea (X%) and Malaysia (X%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2023. Thailand experienced a relatively flat trend pattern. While the share of Indonesia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Thailand (X p.p.) and Malaysia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest glycerol supplier in Asia, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Thailand, with a X% share.

In Indonesia, glycerol exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

Export Prices by Country

In 2023, the export price in Asia amounted to $X per ton, declining by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the export price increased by X%. Over the period under review, the export prices attained the peak figure at $X per ton in 2022, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Glycerol Imports

Imports in Asia

After two years of growth, purchases abroad of glycerol decreased by X% to X tons in 2023. Over the period under review, imports, however, posted a remarkable increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of import peaked at X tons in 2022, and then shrank notably in the following year.

In value terms, glycerol imports contracted sharply to $X in 2023. Overall, imports, however, continue to indicate a strong increase. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then plummeted in the following year.

Imports by Country

China dominates imports structure, accounting for X tons, which was approx. X% of total imports in 2023. Malaysia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by India (X%). Japan (X tons), Thailand (X tons), Turkey (X tons) and South Korea (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the glycerol imports, with a CAGR of X% from 2012 to 2023. At the same time, India (X%), Turkey (X%), Malaysia (X%), Thailand (X%), South Korea (X%) and Japan (X%) displayed positive paces of growth. While the share of China (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Thailand (X p.p.), South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported glycerol in Asia, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

In China, glycerol imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: India (X% per year) and Japan (X% per year).

Import Prices by Country

The import price in Asia stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform