Asia-Pacific: Market for Refined or Synthetic Glycerol 2025

Market Size for Refined or Synthetic Glycerol in Asia-Pacific

The Asia-Pacific refined or synthetic glycerol market totaled $X in 2022, increasing by 9.4% against the previous year. The total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +70.2% against 2015 indices. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in years to come.

Production of Refined or Synthetic Glycerol in Asia-Pacific

In value terms, refined or synthetic glycerol production contracted modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 14% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Refined or Synthetic Glycerol

Exports in Asia-Pacific

For the fourth consecutive year, Asia-Pacific recorded growth in shipments abroad of refined or synthetic glycerol, which increased by 88% to X tons in 2022. In general, exports recorded strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, refined or synthetic glycerol exports surged to $X in 2022. Overall, exports showed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Indonesia (X tons) was the largest exporter of refined or synthetic glycerol, committing 81% of total exports. It was distantly followed by Malaysia (X tons), making up a 16% share of total exports. Thailand (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the refined or synthetic glycerol exports, with a CAGR of +22.0% from 2012 to 2022. At the same time, Thailand (+12.2%) and Malaysia (+2.1%) displayed positive paces of growth. From 2012 to 2022, the share of Indonesia increased by +39 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest refined or synthetic glycerol supplier in Asia-Pacific, comprising 78% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 15% share of total exports.

In Indonesia, refined or synthetic glycerol exports expanded at an average annual rate of +26.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+3.5% per year) and Thailand (+18.0% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, surging by 5.6% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined or synthetic glycerol export price increased by +52.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when the export price increased by 44%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.2%), while the other leaders experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports in Asia-Pacific

After five years of growth, supplies from abroad of refined or synthetic glycerol decreased by -3% to X tons in 2022. Over the period under review, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2018 with an increase of 20% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell modestly in the following year.

In value terms, refined or synthetic glycerol imports surged to $X in 2022. In general, imports, however, recorded buoyant growth. The growth pace was the most rapid in 2021 with an increase of 83%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, China (X tons) represented the largest importer of refined or synthetic glycerol, constituting 57% of total imports. Japan (X tons) ranks second in terms of the total imports with a 10% share, followed by India (6.8%), Thailand (5.8%) and South Korea (4.5%). The following importers - Malaysia (X tons) and the Philippines (X tons) - each reached a 5.4% share of total imports.

China was also the fastest-growing in terms of the refined or synthetic glycerol imports, with a CAGR of +14.3% from 2012 to 2022. At the same time, the Philippines (+12.4%), Japan (+4.2%), Malaysia (+4.1%), India (+3.3%), South Korea (+1.7%) and Thailand (+1.7%) displayed positive paces of growth. China (+23 p.p.) significantly strengthened its position in terms of the total imports, while South Korea, India, Japan and Thailand saw its share reduced by -4%, -4.2%, -4.9% and -5.2% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported refined or synthetic glycerol in Asia-Pacific, comprising 52% of total imports. The second position in the ranking was taken by Japan ($X), with a 14% share of total imports. It was followed by India, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +20.2%. The remaining importing countries recorded the following average annual rates of imports growth: Japan (+10.7% per year) and India (+9.5% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, surging by 41% against the previous year. Import price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined or synthetic glycerol import price increased by +120.7% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 57%. Over the period under review, import prices reached the peak figure in 2022 and is likely to see steady growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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