Asia: Crude Glycerol Market 2024

Crude Glycerol Market Size in Asia

In 2021, after two years of decline, there was growth in the Asian crude glycerol market, when its value increased by 1.6% to $X. In general, consumption posted a resilient expansion. Over the period under review, the market hit record highs at $X in 2018; afterwards, it flattened through to 2021.

Crude Glycerol Production in Asia

In value terms, crude glycerol production amounted to $X in 2021 estimated in export price. Overall, production posted a strong increase. The growth pace was the most rapid in 2017 with an increase of 61%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Crude Glycerol Exports

Exports in Asia

For the fourth year in a row, Asia recorded growth in shipments abroad of crude glycerol, glycerine waters and lyes, which increased by 21% to X tons in 2021. Overall, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 69%. The volume of export peaked in 2021 and is expected to retain growth in years to come.

In value terms, crude glycerol exports skyrocketed to $X in 2021. In general, exports saw a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2021, Indonesia (X tons) represented the key exporter of crude glycerol, glycerine waters and lyes, mixing up 77% of total exports. It was distantly followed by Malaysia (X tons) and South Korea (X tons), together constituting a 16% share of total exports. The following exporters - Thailand (X tons) and the Philippines (X tons) - together made up 4.9% of total exports.

Exports from Indonesia increased at an average annual rate of +19.1% from 2012 to 2021. At the same time, Malaysia (+25.0%), South Korea (+19.0%) and the Philippines (+7.3%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing exporter exported in Asia, with a CAGR of +25.0% from 2012-2021. By contrast, Thailand (-7.1%) illustrated a downward trend over the same period. Indonesia (+17 p.p.) and Malaysia (+5.3 p.p.) significantly strengthened its position in terms of the total exports, while the Philippines and Thailand saw its share reduced by -1.6% and -20.7% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest crude glycerol supplier in Asia, comprising 81% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 7.8% share of total exports. It was followed by South Korea, with a 3.7% share.

In Indonesia, crude glycerol exports increased at an average annual rate of +26.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Malaysia (+19.2% per year) and South Korea (+19.4% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, jumping by 112% against the previous year. Over the period under review, the export price enjoyed pronounced growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+6.6%), while the other leaders experienced more modest paces of growth.

Crude Glycerol Imports

Imports in Asia

Crude glycerol imports surged to X tons in 2021, picking up by 20% compared with the previous year's figure. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2018 with an increase of 56% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, crude glycerol imports skyrocketed to $X in 2021. Overall, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China prevails in imports structure, amounting to X tons, which was near 77% of total imports in 2021. India (X tons) took the second position in the ranking, followed by Malaysia (X tons). All these countries together took near 15% share of total imports. The following importers - Turkey (X tons) and Thailand (X tons) - each finished at a 4.3% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to crude glycerol imports into China stood at +11.9%. At the same time, Thailand (+55.7%), India (+27.9%), Turkey (+16.8%) and Malaysia (+7.7%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing importer imported in Asia, with a CAGR of +55.7% from 2012-2021. From 2012 to 2021, the share of India and Thailand increased by +5.1 and +2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported crude glycerol, glycerine waters and lyes in Asia, comprising 75% of total imports. The second position in the ranking was taken by India ($X), with an 8.8% share of total imports. It was followed by Malaysia, with a 7.1% share.

In China, crude glycerol imports increased at an average annual rate of +18.5% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: India (+36.9% per year) and Malaysia (+11.2% per year).

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, growing by 97% against the previous year. Import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, crude glycerol import price increased by +111.8% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Thailand ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+7.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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