Indonesia: Market for Refined or Synthetic Glycerol 2025

Market Size for Refined or Synthetic Glycerol in Indonesia

In 2022, the Indonesian refined or synthetic glycerol market decreased by -25.5% to $X, falling for the third year in a row after four years of growth. Overall, consumption showed a abrupt shrinkage. Refined or synthetic glycerol consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Production of Refined or Synthetic Glycerol in Indonesia

In value terms, refined or synthetic glycerol production totaled $X in 2022 estimated in export price. Over the period under review, production enjoyed a temperate increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 35% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Refined or Synthetic Glycerol

Exports from Indonesia

In 2022, exports of refined or synthetic glycerol from Indonesia skyrocketed to X tons, picking up by 154% against the previous year. Over the period under review, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, refined or synthetic glycerol exports soared to $X in 2022. Overall, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for refined or synthetic glycerol exports from Indonesia, with a 43% share of total exports. Moreover, refined or synthetic glycerol exports to China exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. The third position in this ranking was taken by India (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to China stood at +26.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+32.5% per year) and India (+25.6% per year).

In value terms, China ($X) remains the key foreign market for refined or synthetic glycerol exports from Indonesia, comprising 40% of total exports. The second position in the ranking was held by the United States ($X), with an 8.8% share of total exports. It was followed by Japan, with an 8.5% share.

From 2012 to 2022, the average annual growth rate of value to China totaled +30.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+24.0% per year) and Japan (+32.0% per year).

Export Prices by Country

In 2022, the average refined or synthetic glycerol export price amounted to $X per ton, rising by 15% against the previous year. Over the period under review, export price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, refined or synthetic glycerol export price increased by +85.3% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 61% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($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 the United States (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports into Indonesia

In 2022, imports of refined or synthetic glycerol into Indonesia skyrocketed to X tons, increasing by 131% against the previous year's figure. Overall, imports continue to indicate prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, refined or synthetic glycerol imports skyrocketed to $X in 2022. In general, imports showed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of refined or synthetic glycerol to Indonesia, with a 82% share of total imports. Moreover, refined or synthetic glycerol imports from Malaysia exceeded the figures recorded by the second-largest supplier, Tanzania (X tons), more than tenfold. Singapore (X tons) ranked third in terms of total imports with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia stood at +17.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Tanzania (0.0% per year) and Singapore (+1.6% per year).

In value terms, Malaysia ($X) constituted the largest supplier of refined or synthetic glycerol to Indonesia, comprising 70% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 5.9% share of total imports. It was followed by Tanzania, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia totaled +19.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the Philippines (+24.5% per year) and Tanzania (0.0% per year).

Import Prices by Country

The average refined or synthetic glycerol import price stood at $X per ton in 2022, which is down by -3.8% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 42% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, 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 Philippines ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+22.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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