China: Market for Refined or Synthetic Glycerol 2025

Market Size for Refined or Synthetic Glycerol in China

In 2022, the Chinese refined or synthetic glycerol market increased by 19% to $X, rising for the second year in a row after two years of decline. In general, the total consumption indicated resilient growth from 2012 to 2022: its value 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, consumption increased by +82.3% against 2020 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Production of Refined or Synthetic Glycerol in China

In value terms, refined or synthetic glycerol production declined to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced curtailment. The growth pace was the most rapid in 2021 when the production volume increased by 25%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Exports of Refined or Synthetic Glycerol

Exports from China

In 2022, the amount of refined or synthetic glycerol exported from China soared to X tons, picking up by 22% against the year before. Overall, exports posted mild growth. The most prominent rate of growth was recorded in 2020 with an increase of 121%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined or synthetic glycerol exports soared to $X in 2022. In general, exports enjoyed a strong expansion. The pace of growth was the most pronounced in 2020 with an increase of 99%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Japan (X tons) was the main destination for refined or synthetic glycerol exports from China, accounting for a 26% share of total exports. Moreover, refined or synthetic glycerol exports to Japan exceeded the volume sent to the second major destination, Russia (X tons), threefold. The third position in this ranking was taken by Canada (X tons), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at +25.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+3.2% per year) and Canada (+87.3% per year).

In value terms, Japan ($X), the United States ($X) and Russia ($X) appeared to be the largest markets for refined or synthetic glycerol exported from China worldwide, together comprising 51% of total exports. Canada, Australia, Cameroon, Vietnam, Thailand, Uzbekistan, India, Singapore and Latvia lagged somewhat behind, together accounting for a further 19%.

Canada, with a CAGR of +131.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refined or synthetic glycerol export price amounted to $X per ton, rising by 48% against the previous year. In general, the export price posted resilient growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+35.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports into China

In 2022, after five years of growth, there was decline in supplies from abroad of refined or synthetic glycerol, when their volume decreased by -1.2% to X tons. In general, imports, however, showed a buoyant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 67%. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined modestly in the following year.

In value terms, refined or synthetic glycerol imports skyrocketed to $X in 2022. Overall, imports, however, recorded significant growth. The growth pace was the most rapid in 2021 when imports increased by 97%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest refined or synthetic glycerol supplier to China, accounting for a 65% share of total imports. Moreover, refined or synthetic glycerol imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), fourfold. Brazil (X tons) ranked third in terms of total imports with an 8.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia amounted to +16.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+5.9% per year) and Brazil (+83.1% per year).

In value terms, Indonesia ($X) constituted the largest supplier of refined or synthetic glycerol to China, comprising 62% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 19% share of total imports. It was followed by Brazil, with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia stood at +22.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+11.7% per year) and Brazil (+96.0% per year).

Import Prices by Country

The average refined or synthetic glycerol import price stood at $X per ton in 2022, growing by 36% against the previous year. In general, the import price continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2021 when the average import price increased by 69% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Malaysia ($X per ton) and Brazil ($X per ton), while the price for Argentina ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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