India: Crude Glycerol Market 2024

Crude Glycerol Market Size in India

The Indian crude glycerol market expanded slightly to $X in 2021, increasing by 4.3% against the previous year. In general, consumption posted prominent growth. Crude glycerol consumption peaked in 2021 and is likely to see steady growth in the near future.

Crude Glycerol Production in India

In value terms, crude glycerol production rose to $X in 2021 estimated in export price. Overall, production enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of 52% against the previous year. Crude glycerol production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Crude Glycerol Exports

Exports from India

After four years of growth, overseas shipments of crude glycerol, glycerine waters and lyes decreased by -36.3% to X tons in 2021. Over the period under review, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 1,710%. The exports peaked at X tons in 2020, and then declined dramatically in the following year.

In value terms, crude glycerol exports shrank significantly to $X in 2021. Overall, exports, however, enjoyed a significant increase. The growth pace was the most rapid in 2017 when exports increased by 2,311%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for crude glycerol exports from India, accounting for a 48% share of total exports. Moreover, crude glycerol exports to the United States exceeded the volume sent to the second major destination, France (X tons), threefold. Denmark (X tons) ranked third in terms of total exports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +36.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+14.4% per year) and Denmark (+43.3% per year).

In value terms, the United States ($X) remains the key foreign market for crude glycerol, glycerine waters and lyes exports from India, comprising 53% of total exports. The second position in the ranking was held by France ($X), with a 15% share of total exports. It was followed by Denmark, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States amounted to +37.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+8.1% per year) and Denmark (+34.7% per year).

Export Prices by Country

The average crude glycerol export price stood at $X per ton in 2021, shrinking by -3.7% against the previous year. Overall, the export price, however, recorded strong growth. The pace of growth appeared the most rapid in 2014 an increase of 375% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Nepal ($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 Nigeria (+14.6%), while the prices for the other major destinations experienced mixed trend patterns.

Crude Glycerol Imports

Imports into India

In 2021, the amount of crude glycerol, glycerine waters and lyes imported into India soared to X tons, with an increase of 16% against 2020. In general, imports showed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 221%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports failed to regain momentum.

In value terms, crude glycerol imports surged to $X in 2021. Overall, imports posted a significant increase. The pace of growth was the most pronounced in 2018 with an increase of 236% against the previous year. Imports peaked in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest supplier of crude glycerol to India, accounting for a 39% share of total imports. Moreover, crude glycerol imports from Indonesia exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. The United States (X tons) ranked third in terms of total imports with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Indonesia amounted to +61.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+43.9% per year) and the United States (+41.8% per year).

In value terms, Indonesia ($X) constituted the largest supplier of crude glycerol, glycerine waters and lyes to India, comprising 44% of total imports. The second position in the ranking was taken by Spain ($X), with a 17% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Indonesia amounted to +71.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+48.1% per year) and the United States (+47.7% per year).

Import Prices by Country

In 2021, the average crude glycerol import price amounted to $X per ton, surging by 133% against the previous year. Over the period under review, the import price showed a resilient expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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