Iran: Crude Glycerol Market 2024

Crude Glycerol Market Size in Iran

The Iranian crude glycerol market soared to $X in 2021, growing by 17% against the previous year. In general, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.5% 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 -12.8% against 2019 indices. Crude glycerol consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Crude Glycerol Production in Iran

In value terms, crude glycerol production skyrocketed to $X in 2021 estimated in export price. Overall, production continues to indicate a prominent increase. The growth pace was the most rapid in 2014 when the production volume increased by 37%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Crude Glycerol Exports

Exports from Iran

Crude glycerol exports from Iran surged to X tons in 2021, jumping by 3,924% on the previous year. Overall, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, crude glycerol exports soared to $X in 2021. Over the period under review, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Pakistan (X tons) was the main destination for crude glycerol exports from Iran, accounting for a 61% share of total exports. Moreover, crude glycerol exports to Pakistan exceeded the volume sent to the second major destination, Azerbaijan (X tons), threefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Pakistan amounted to +47.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+92.8% per year) and India (0.0% per year).

In value terms, the largest markets for crude glycerol exported from Iran were Azerbaijan ($X), Pakistan ($X) and India ($X), together comprising 93% of total exports.

Among the main countries of destination, Azerbaijan, with a CAGR of +75.7%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average crude glycerol export price amounted to $X per ton, waning by -65.7% against the previous year. In general, the export price continues to indicate a drastic downturn. The growth pace was the most rapid in 2016 when the average export price increased by 265% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while the average price for exports to Pakistan ($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 Azerbaijan (-8.8%).

Crude Glycerol Imports

Imports into Iran

Crude glycerol imports into Iran reduced to X tons in 2021, which is down by -12.3% compared with 2020. Over the period under review, imports, however, recorded a perceptible increase. The pace of growth appeared the most rapid in 2014 when imports increased by 189% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, crude glycerol imports surged to $X in 2021. In general, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2015 when imports increased by 186% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), Indonesia (X tons) and Turkey (X tons) were the main suppliers of crude glycerol imports to Iran, with a combined 52% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +46.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crude glycerol suppliers to Iran were the United Arab Emirates ($X), Turkey ($X) and Indonesia ($X), with a combined 62% share of total imports.

Among the main suppliers, Turkey, with a CAGR of +44.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average crude glycerol import price amounted to $X per ton, jumping by 74% against the previous year. In general, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, crude glycerol import price increased by +121.1% against 2019 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+7.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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