Finland: Crude Glycerol Market 2024

Crude Glycerol Market Size in Finland

The Finnish crude glycerol market stood at $X in 2021, stabilizing at the previous year. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.3% 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 -1.5% against 2019 indices. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Crude Glycerol Production in Finland

In value terms, crude glycerol production rose modestly to $X in 2021 estimated in export price. In general, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +5.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.0% against 2019 indices. The pace of growth appeared the most rapid in 2018 with an increase of 35% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Crude Glycerol Exports

Exports from Finland

For the fifth consecutive year, Finland recorded growth in overseas shipments of crude glycerol, glycerine waters and lyes, which increased by 71% to X tons in 2021. Over the period under review, exports recorded significant growth. The growth pace was the most rapid in 2019 when exports increased by 1,013%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, crude glycerol exports soared to $X in 2021. In general, exports recorded a significant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by 194%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in years to come.

Exports by Country

Russia (X tons) was the main destination for crude glycerol exports from Finland, with a 94% share of total exports. Moreover, crude glycerol exports to Russia exceeded the volume sent to the second major destination, Poland (X tons), more than tenfold.

From 2012 to 2021, the average annual growth rate of volume to Russia amounted to +59.3%.

In value terms, Russia ($X) emerged as the key foreign market for crude glycerol, glycerine waters and lyes exports from Finland, comprising 93% of total exports. The second position in the ranking was held by Poland ($X), with a 2.8% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia amounted to +46.7%.

Export Prices by Country

The average crude glycerol export price stood at $X per ton in 2021, surging by 70% against the previous year. In general, the export price, however, recorded a deep reduction. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Poland amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (-7.9%), while the prices for the other major destinations experienced a decline.

Crude Glycerol Imports

Imports into Finland

After two years of growth, supplies from abroad of crude glycerol, glycerine waters and lyes decreased by -36.3% to X tons in 2021. Over the period under review, imports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 831% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, crude glycerol imports stood at $X in 2021. In general, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2019 with an increase of 408%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Norway (X tons) constituted the largest crude glycerol supplier to Finland, accounting for a 88% share of total imports. Moreover, crude glycerol imports from Norway exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was taken by the UK (X tons), with a 1.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Norway totaled -34.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-18.5% per year) and the UK (0.0% per year).

In value terms, Norway ($X) constituted the largest supplier of crude glycerol, glycerine waters and lyes to Finland, comprising 65% of total imports. The second position in the ranking was taken by Germany ($X), with a 15% share of total imports. It was followed by the UK, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from Norway amounted to +25.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-15.9% per year) and the UK (0.0% per year).

Import Prices by Country

In 2021, the average crude glycerol import price amounted to $X per ton, rising by 64% against the previous year. In general, the import price showed a mild expansion. The pace of growth was the most pronounced in 2016 an increase of 128%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+91.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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