Eastern Europe: Market for Refined or Synthetic Glycerol 2024

Market Size for Refined or Synthetic Glycerol in Eastern Europe

In 2023, the East European refined or synthetic glycerol market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. The total consumption indicated a tangible increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by X% against 2016 indices. Over the period under review, the market hit record highs at $X in 2022, and then shrank slightly in the following year.

Production of Refined or Synthetic Glycerol in Eastern Europe

In value terms, refined or synthetic glycerol production shrank to $X in 2023 estimated in export price. Overall, production, however, saw buoyant growth. The growth pace was the most rapid in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2022, and then contracted in the following year.

Exports of Refined or Synthetic Glycerol

Exports in Eastern Europe

After two years of growth, shipments abroad of refined or synthetic glycerol decreased by X% to X tons in 2023. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

In value terms, refined or synthetic glycerol exports contracted remarkably to $X in 2023. In general, exports, however, showed measured growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then dropped notably in the following year.

Exports by Country

Poland was the largest exporting country with an export of about X tons, which amounted to X% of total exports. The Czech Republic (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Bulgaria (X%) and Latvia (X%). Lithuania (X tons) took a minor share of total exports.

Exports from Poland increased at an average annual rate of X% from 2012 to 2023. At the same time, Bulgaria (X%), Lithuania (X%) and the Czech Republic (X%) displayed positive paces of growth. Moreover, Bulgaria emerged as the fastest-growing exporter exported in Eastern Europe, with a CAGR of X% from 2012-2023. Latvia experienced a relatively flat trend pattern. While the share of Bulgaria (X p.p.), Poland (X p.p.), the Czech Republic (X p.p.) and Lithuania (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Poland ($X), the Czech Republic ($X) and Bulgaria ($X) appeared to be the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Among the main exporting countries, Bulgaria, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Eastern Europe amounted to $X per ton, reducing by X% against the previous year. Overall, the export price, however, saw a slight increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then dropped remarkably in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2023, major exporting countries recorded the following prices: in the Czech Republic ($X per ton) and Lithuania ($X per ton), while Bulgaria ($X per ton) and Latvia ($X per ton) were amongst the lowest.

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

Imports of Refined or Synthetic Glycerol

Imports in Eastern Europe

In 2023, overseas purchases of refined or synthetic glycerol decreased by X% to X tons, falling for the fourth year in a row after two years of growth. In general, imports showed a mild curtailment. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports remained at a lower figure.

In value terms, refined or synthetic glycerol imports fell remarkably to $X in 2023. Total imports indicated a moderate increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. The level of import peaked at $X in 2022, and then shrank dramatically in the following year.

Imports by Country

Poland (X tons), the Czech Republic (X tons) and Russia (X tons) represented roughly X% of total imports in 2023. Hungary (X tons) took the next position in the ranking, followed by Romania (X tons), Lithuania (X tons) and Slovakia (X tons). All these countries together held near X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Lithuania (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined or synthetic glycerol importing markets in Eastern Europe were the Czech Republic ($X), Poland ($X) and Russia ($X), together comprising X% of total imports. Hungary, Slovakia, Romania and Lithuania lagged somewhat behind, together accounting for a further X%.

Slovakia, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Eastern Europe stood at $X per ton in 2023, reducing by X% against the previous year. In general, the import price, however, enjoyed temperate growth. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price reached the peak level of $X per ton, and then reduced in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Slovakia ($X per ton), while Lithuania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform