India: Market for Refined or Synthetic Glycerol 2025

Market Size for Refined or Synthetic Glycerol in India

After four years of growth, the Indian refined or synthetic glycerol market decreased by -2.5% to $X in 2022. Over the period under review, the total consumption indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Refined or synthetic glycerol consumption peaked at $X in 2021, and then dropped modestly in the following year.

Production of Refined or Synthetic Glycerol in India

In value terms, refined or synthetic glycerol production shrank modestly to $X in 2022 estimated in export price. In general, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.0% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 34%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Exports of Refined or Synthetic Glycerol

Exports from India

For the sixth year in a row, India recorded growth in shipments abroad of refined or synthetic glycerol, which increased by 94% to X tons in 2022. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2013 when exports increased by 233% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, refined or synthetic glycerol exports skyrocketed to $X in 2022. Over the period under review, exports recorded significant growth. The pace of growth was the most pronounced in 2013 when exports increased by 188%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for refined or synthetic glycerol exports from India, with a 26% share of total exports. Moreover, refined or synthetic glycerol exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), twofold. Tanzania (X tons) ranked third in terms of total exports with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +41.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+17.1% per year) and Tanzania (+50.4% per year).

In value terms, the United States ($X) remains the key foreign market for refined or synthetic glycerol exports from India, comprising 41% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with an 8.8% share of total exports. It was followed by France, with a 5.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +45.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+27.3% per year) and France (+13.6% per year).

Export Prices by Country

In 2022, the average refined or synthetic glycerol export price amounted to $X per ton, declining by -10.1% against the previous year. In general, export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 an increase of 47% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Bangladesh ($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 Iran (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports into India

After two years of growth, purchases abroad of refined or synthetic glycerol decreased by -2.6% to X tons in 2022. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +50.3% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 48% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, refined or synthetic glycerol imports skyrocketed to $X in 2022. In general, imports, however, showed a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 99%. 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 India, with a 64% 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 8.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia totaled +7.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-1.7% per year) and Brazil (+67.0% per year).

In value terms, Indonesia ($X) constituted the largest supplier of refined or synthetic glycerol to India, comprising 64% of total imports. The second position in the ranking was held by Malaysia ($X), with a 15% share of total imports. It was followed by Brazil, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from Indonesia amounted to +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+2.9% per year) and Brazil (+74.3% per year).

Import Prices by Country

In 2022, the average refined or synthetic glycerol import price amounted to $X per ton, with an increase of 40% against the previous year. Over the period under review, the import price recorded a strong expansion. The most prominent rate of growth was recorded in 2021 an increase of 81%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Indonesia ($X per ton) and Malaysia ($X per ton), while the price for Argentina ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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