Chile: Crude Glycerol Market 2024

Crude Glycerol Market Size in Chile

After two years of decline, the Chilean crude glycerol market increased by 12% to $X in 2021. In general, consumption showed a strong increase. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Crude Glycerol Production in Chile

In value terms, crude glycerol production rose rapidly to $X in 2021 estimated in export price. In general, production enjoyed a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 44% against the previous year. Crude glycerol production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Crude Glycerol Exports

Exports from Chile

In 2021, crude glycerol exports from Chile shrank rapidly to X tons, waning by -81.9% compared with the previous year's figure. In general, exports continue to indicate a deep contraction. The growth pace was the most rapid in 2020 when exports increased by 366% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, crude glycerol exports declined notably to $X in 2021. Over the period under review, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 when exports increased by 544% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

China (X kg) was the main destination for crude glycerol exports from Chile, with a 57% share of total exports. Moreover, crude glycerol exports to China exceeded the volume sent to the second major destination, Bolivia (X kg), twofold. Norway (X kg) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Bolivia (+14.1% per year) and Norway (+13.1% per year).

In value terms, the largest markets for crude glycerol exported from Chile were Bolivia ($X), China ($X) and Norway ($X), with a combined 93% share of total exports.

In terms of the main countries of destination, Bolivia, with a CAGR of +15.2%, recorded 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 2021, the average crude glycerol export price amounted to $X per ton, dropping by -48.9% against the previous year. Overall, the export price, however, recorded a modest expansion. The most prominent rate of growth was recorded in 2015 an increase of 131% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2020, and then contracted notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Argentina ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Argentina (+11.4%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Glycerol Imports

Imports into Chile

In 2021, purchases abroad of crude glycerol, glycerine waters and lyes decreased by -21.8% to X tons, falling for the second consecutive year after two years of growth. In general, imports, however, enjoyed a significant increase. The growth pace was the most rapid in 2015 with an increase of 539% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, crude glycerol imports fell to $X in 2021. Overall, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2015 when imports increased by 262% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Brazil (X tons) constituted the largest supplier of crude glycerol to Chile, accounting for a 44% share of total imports. Moreover, crude glycerol imports from Brazil exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), twofold. Argentina (X tons) ranked third in terms of total imports with a 17% share.

From 2012 to 2021, the average annual growth rate of volume from Brazil amounted to +101.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+46.2% per year) and Argentina (+35.9% per year).

In value terms, Brazil ($X) constituted the largest supplier of crude glycerol, glycerine waters and lyes to Chile, comprising 50% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total imports. It was followed by Peru, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from Brazil totaled +90.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+47.4% per year) and Peru (+110.6% per year).

Import Prices by Country

The average crude glycerol import price stood at $X per ton in 2021, surging by 17% against the previous year. Over the period under review, the import price, however, recorded a perceptible reduction. The most prominent rate of growth was recorded in 2018 an increase of 75%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+7.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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