Ireland: Crude Glycerol Market 2024

Crude Glycerol Market Size in Ireland

In 2021, the Irish crude glycerol market decreased by -0.6% to $X, falling for the second consecutive year after four years of growth. Over the period under review, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -2.0% 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 Ireland

In value terms, crude glycerol production dropped to $X in 2021 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +48.9% against 2015 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 94%. Crude glycerol production peaked at $X in 2020, and then fell slightly in the following year.

Crude Glycerol Exports

Exports from Ireland

For the third year in a row, Ireland recorded decline in shipments abroad of crude glycerol, glycerine waters and lyes, which decreased by -4.4% to X tons in 2021. In general, exports saw a significant curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 377% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, crude glycerol exports rose notably to $X in 2021. Overall, exports, however, continue to indicate a perceptible increase. The pace of growth was the most pronounced in 2014 with an increase of 238% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) and the UK (X tons) were the main destinations of crude glycerol exports from Ireland.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +136.4%).

In value terms, the United States ($X) remains the key foreign market for crude glycerol, glycerine waters and lyes exports from Ireland, comprising 88% of total exports. The second position in the ranking was held by the UK ($X), with a 12% share of total exports.

From 2012 to 2021, the average annual growth rate of value to the United States amounted to +153.4%.

Export Prices by Country

The average crude glycerol export price stood at $X per ton in 2021, rising by 18% against the previous year. Overall, the export price posted significant growth. The growth pace was the most rapid in 2014 when the average export price increased by 844% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to the UK amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+51.8%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Glycerol Imports

Imports into Ireland

In 2021, imports of crude glycerol, glycerine waters and lyes into Ireland dropped slightly to X tons, waning by -2.3% compared with the previous year. In general, imports recorded a perceptible downturn. The most prominent rate of growth was recorded in 2019 with an increase of 25%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, crude glycerol imports soared to $X in 2021. Over the period under review, imports saw a pronounced contraction. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Germany (X tons) constituted the largest crude glycerol supplier to Ireland, accounting for a 81% share of total imports. Moreover, crude glycerol imports from Germany exceeded the figures recorded by the second-largest supplier, the UK (X tons), fourfold. Belgium (X kg) ranked third in terms of total imports with less than 0.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-15.4% per year) and Belgium (-57.4% per year).

In value terms, Germany ($X) constituted the largest supplier of crude glycerol, glycerine waters and lyes to Ireland, comprising 61% of total imports. The second position in the ranking was taken by the UK ($X), with a 30% share of total imports. It was followed by Belgium, with a 0.1% share.

From 2012 to 2021, the average annual growth rate of value from Germany totaled +24.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (-8.0% per year) and Belgium (-47.6% per year).

Import Prices by Country

In 2021, the average crude glycerol import price amounted to $X per ton, jumping by 99% against the previous year. Overall, the import price showed a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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 Malaysia ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+29.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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