Latin America and the Caribbean: Crude Glycerol Market 2024

Crude Glycerol Market Size in Latin America and the Caribbean

In 2021, the Latin American crude glycerol market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -10.9% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Crude Glycerol Production in Latin America and the Caribbean

In value terms, crude glycerol production rose slightly to $X in 2021 estimated in export price. The total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +3.8% 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 decreased by -13.8% against 2018 indices. The growth pace was the most rapid in 2017 with an increase of 36% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Crude Glycerol Exports

Exports in Latin America and the Caribbean

Crude glycerol exports skyrocketed to X tons in 2021, increasing by 27% compared with 2020. Total exports indicated a pronounced increase from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +50.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 34% against the previous year. The volume of export peaked in 2021 and is expected to retain growth in the immediate term.

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

Exports by Country

In 2021, Brazil (X tons) represented the major exporter of crude glycerol, glycerine waters and lyes, generating 85% of total exports. It was distantly followed by Colombia (X tons), comprising an 11% share of total exports. Argentina (X tons) followed a long way behind the leaders.

Exports from Brazil increased at an average annual rate of +10.6% from 2012 to 2021. At the same time, Colombia (+14.2%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of +14.2% from 2012-2021. By contrast, Argentina (-21.5%) illustrated a downward trend over the same period. While the share of Brazil (+38 p.p.) and Colombia (+6.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Argentina (-43.5 p.p.) displayed negative dynamics.

In value terms, Brazil ($X) remains the largest crude glycerol supplier in Latin America and the Caribbean, comprising 88% of total exports. The second position in the ranking was held by Colombia ($X), with a 9.1% share of total exports.

In Brazil, crude glycerol exports increased at an average annual rate of +15.1% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Colombia (+15.1% per year) and Argentina (-20.9% per year).

Export Prices by Country

In 2021, the export price in Latin America and the Caribbean amounted to $X per ton, rising by 85% against the previous year. Export price indicated a measured increase from 2012 to 2021: its price increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+4.1%), while the other leaders experienced more modest paces of growth.

Crude Glycerol Imports

Imports in Latin America and the Caribbean

Crude glycerol imports contracted sharply to X tons in 2021, which is down by -26.5% against 2020. Over the period under review, imports, however, recorded buoyant growth. The pace of growth was the most pronounced in 2018 when imports increased by 41% against the previous year. The volume of import peaked at X tons in 2020, and then contracted significantly in the following year.

In value terms, crude glycerol imports contracted markedly to $X in 2021. Total imports indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +72.7% against 2015 indices. The most prominent rate of growth was recorded in 2018 with an increase of 50% against the previous year. Over the period under review, imports attained the maximum at $X in 2020, and then contracted remarkably in the following year.

Imports by Country

In 2021, Mexico (X tons) was the largest importer of crude glycerol, glycerine waters and lyes, making up 67% of total imports. It was distantly followed by Peru (X tons), comprising a 29% share of total imports.

From 2012 to 2021, average annual rates of growth with regard to crude glycerol imports into Mexico stood at +12.5%. At the same time, Peru (+13.7%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing importer imported in Latin America and the Caribbean, with a CAGR of +13.7% from 2012-2021. Mexico (+16 p.p.) and Peru (+8.6 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) constitutes the largest market for imported crude glycerol, glycerine waters and lyes in Latin America and the Caribbean, comprising 58% of total imports. The second position in the ranking was taken by Peru ($X), with a 25% share of total imports.

In Mexico, crude glycerol imports increased at an average annual rate of +5.1% over the period from 2012-2021.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2021, picking up by 14% against the previous year. In general, the import price, however, saw a deep contraction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Peru ($X per ton), while Mexico amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Peru (-6.2%).

Source: IndexBox Platform

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