Lithuania: Market for Refined or Synthetic Glycerol 2024

Market Size for Refined or Synthetic Glycerol in Lithuania

The Lithuanian refined or synthetic glycerol market skyrocketed to $X in 2022, picking up by 37% against the previous year. Overall, consumption posted a resilient expansion. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Production of Refined or Synthetic Glycerol in Lithuania

In value terms, refined or synthetic glycerol production soared to $X in 2022 estimated in export price. Overall, production showed a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of 98%. Refined or synthetic glycerol production peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports of Refined or Synthetic Glycerol

Exports from Lithuania

In 2022, after two years of decline, there was significant growth in overseas shipments of refined or synthetic glycerol, when their volume increased by 14% to X tons. In general, exports continue to indicate prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 392% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, refined or synthetic glycerol exports surged to $X in 2022. Over the period under review, exports saw a prominent expansion. The pace of growth was the most pronounced in 2014 when exports increased by 235%. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Belarus (X tons), Poland (X tons) and Estonia (X tons) were the main destinations of refined or synthetic glycerol exports from Lithuania, together accounting for 67% of total exports. Russia, the UK, Latvia, Finland and Germany lagged somewhat behind, together comprising a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the UK (with a CAGR of +756.9%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Estonia ($X) and Belarus ($X) appeared to be the largest markets for refined or synthetic glycerol exported from Lithuania worldwide, with a combined 60% share of total exports. Russia, the UK, Latvia, Finland and Germany lagged somewhat behind, together accounting for a further 32%.

The UK, with a CAGR of +527.0%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average refined or synthetic glycerol export price amounted to $X per ton, jumping by 42% against the previous year. Overall, the export price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 an increase of 73% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Belarus ($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 Germany (+35.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports into Lithuania

In 2022, purchases abroad of refined or synthetic glycerol decreased by -8.2% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, total imports indicated a tangible expansion from 2012 to 2022: its volume increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -39.6% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 56%. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, refined or synthetic glycerol imports skyrocketed to $X in 2022. Overall, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by 69% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Poland (X tons), Latvia (X tons) and Germany (X tons) were the main suppliers of refined or synthetic glycerol imports to Lithuania, together comprising 92% of total imports. The Netherlands, Estonia, the United States and Sweden lagged somewhat behind, together accounting for a further 7.4%.

From 2012 to 2022, the biggest increases were recorded for Estonia (with a CAGR of +115.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined or synthetic glycerol suppliers to Lithuania were Poland ($X), the United States ($X) and Latvia ($X), with a combined 77% share of total imports. Germany, the Netherlands, Estonia and Sweden lagged somewhat behind, together comprising a further 20%.

Among the main suppliers, Estonia, with a CAGR of +87.4%, saw the highest rates of growth with regard to 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

The average refined or synthetic glycerol import price stood at $X per ton in 2022, with an increase of 41% against the previous year. Over the period under review, the import price recorded a strong expansion. The pace of growth was the most pronounced in 2021 an increase of 94%. The import price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform