Colombia: Crude Glycerol Market 2024

Crude Glycerol Market Size in Colombia

In 2021, the Colombian crude glycerol market decreased by -14.9% to $X, falling for the third year in a row after three years of growth. Overall, the total consumption indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -30.8% against 2018 indices. Crude glycerol consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Crude Glycerol Production in Colombia

In value terms, crude glycerol production expanded notably to $X in 2021 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -16.0% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 43%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Crude Glycerol Exports

Exports from Colombia

After two years of decline, shipments abroad of crude glycerol, glycerine waters and lyes increased by 119% to X tons in 2021. Overall, exports enjoyed prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, crude glycerol exports skyrocketed to $X in 2021. Over the period under review, exports continue to indicate a buoyant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for crude glycerol exports from Colombia, with a 81% share of total exports. Moreover, crude glycerol exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), more than tenfold. India (X tons) ranked third in terms of total exports with a 4.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China totaled +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+34.7% per year) and India (+34.2% per year).

In value terms, China ($X) remains the key foreign market for crude glycerol, glycerine waters and lyes exports from Colombia, comprising 76% of total exports. The second position in the ranking was taken by India ($X), with a 7.3% share of total exports. It was followed by Peru, with a 5.5% share.

From 2012 to 2021, the average annual growth rate of value to China amounted to +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+38.1% per year) and Peru (+2.1% per year).

Export Prices by Country

The average crude glycerol export price stood at $X per ton in 2021, with an increase of 50% against the previous year. In general, the export price saw a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to the Netherlands ($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 Malaysia (+12.5%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Glycerol Imports

Imports into Colombia

In 2021, approx. X tons of crude glycerol, glycerine waters and lyes were imported into Colombia; picking up by 29% on the previous year's figure. In general, imports, however, showed a significant decrease. The most prominent rate of growth was recorded in 2019 when imports increased by 1,024%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, crude glycerol imports dropped sharply to $X in 2021. Overall, imports, however, saw a perceptible downturn. The growth pace was the most rapid in 2015 when imports increased by 156% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) was the main crude glycerol supplier to Colombia, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States totaled +18.0%.

In value terms, the United States ($X) constituted the largest supplier of crude glycerol, glycerine waters and lyes to Colombia.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at +15.2%.

Import Prices by Country

In 2021, the average crude glycerol import price amounted to $X per ton, with a decrease of -34.5% against the previous year. Over the period under review, the import price, however, showed a prominent increase. The most prominent rate of growth was recorded in 2020 when the average import price increased by 369%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

As there is only one major supplying country, the average price level is determined by prices for the United States.

From 2012 to 2021, the rate of growth in terms of prices for Italy amounted to +15.1% per year.

Source: IndexBox Platform

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