Cote d'Ivoire: Market for Refined or Synthetic Glycerol 2024

Market Size for Refined or Synthetic Glycerol in Cote d'Ivoire

The Cote d'Ivoire's refined or synthetic glycerol market fell significantly to $X in 2022, waning by -19% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a strong expansion. Over the period under review, the market hit record highs at $X in 2021, and then shrank notably in the following year.

Exports of Refined or Synthetic Glycerol

Exports from Cote d'Ivoire

In 2022, overseas shipments of refined or synthetic glycerol were finally on the rise to reach X tons after five years of decline. In general, exports, however, saw a slight descent. The most prominent rate of growth was recorded in 2016 when exports increased by 253%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined or synthetic glycerol exports surged to $X in 2022. Overall, exports, however, showed a pronounced decline. The pace of growth appeared the most rapid in 2016 with an increase of 165%. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo (X tons) was the main destination for refined or synthetic glycerol exports from Cote d'Ivoire, accounting for a 75% share of total exports. Moreover, refined or synthetic glycerol exports to Togo exceeded the volume sent to the second major destination, Burkina Faso (X tons), sixfold.

From 2012 to 2022, the average annual growth rate of volume to Togo totaled +17.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-14.4% per year) and Congo (+3.8% per year).

In value terms, Togo ($X) emerged as the key foreign market for refined or synthetic glycerol exports from Cote d'Ivoire, comprising 77% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a 13% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Togo totaled +20.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Burkina Faso (-16.1% per year) and Congo (-13.3% per year).

Export Prices by Country

In 2022, the average refined or synthetic glycerol export price amounted to $X per ton, jumping by 39% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average export price increased by 73%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

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 Togo ($X per ton), while the average price for exports to Congo ($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 Togo (+2.2%), while the prices for the other major destinations experienced a decline.

Imports of Refined or Synthetic Glycerol

Imports into Cote d'Ivoire

Refined or synthetic glycerol imports into Cote d'Ivoire fell to X tons in 2022, waning by -11.9% against the year before. In general, imports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2013 with an increase of 50% against the previous year. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, refined or synthetic glycerol imports contracted rapidly to $X in 2022. Over the period under review, imports, however, showed resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 73%. Over the period under review, imports hit record highs at $X in 2021, and then fell significantly in the following year.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and Germany (X tons) were the main suppliers of refined or synthetic glycerol imports to Cote d'Ivoire, together comprising 61% of total imports. Saudi Arabia, the Netherlands, Thailand and Spain lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +105.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and the Netherlands ($X) constituted the largest refined or synthetic glycerol suppliers to Cote d'Ivoire, with a combined 57% share of total imports. Germany, Spain, Saudi Arabia and Thailand lagged somewhat behind, together comprising a further 28%.

Spain, with a CAGR of +68.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average refined or synthetic glycerol import price stood at $X per ton in 2022, which is down by -9.7% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 29% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+35.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform