MENA: Market for Refined or Synthetic Glycerol 2025

Market Size for Refined or Synthetic Glycerol in MENA

In 2022, the MENA's refined or synthetic glycerol market increased by 5% to $X, rising for the second consecutive year after two years of decline. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +44.9% against 2020 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Production of Refined or Synthetic Glycerol in MENA

In value terms, refined or synthetic glycerol production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2017 when the production volume increased by 28%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Refined or Synthetic Glycerol

Exports in MENA

Refined or synthetic glycerol exports soared to X tons in 2022, with an increase of 56% compared with the previous year's figure. Total exports indicated pronounced growth from 2012 to 2022: its volume increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +77.1% against 2020 indices. 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 surged to $X in 2022. Overall, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 78% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Turkey (X tons) was the major exporter of refined or synthetic glycerol, achieving 64% of total exports. The United Arab Emirates (X tons) held the second position in the ranking, followed by Saudi Arabia (X tons) and Jordan (X tons). All these countries together held approx. 30% share of total exports. Algeria (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to refined or synthetic glycerol exports from Turkey stood at +3.8%. At the same time, Saudi Arabia (+26.7%) and Algeria (+18.7%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +26.7% from 2012-2022. Jordan experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-2.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia, Turkey and Algeria increased by +8, +5.4 and +2 percentage points, respectively.

In value terms, Turkey ($X) remains the largest refined or synthetic glycerol supplier in MENA, comprising 72% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total exports. It was followed by Jordan, with an 8% share.

In Turkey, refined or synthetic glycerol exports expanded at an average annual rate of +9.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (-5.6% per year) and Jordan (+8.5% per year).

Export Prices by Country

The export price in MENA stood at $X per ton in 2022, growing by 11% against the previous year. Export price indicated a measured increase from 2012 to 2022: its price increased at an average annual rate of +2.9% 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 +74.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 57%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Jordan ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+8.2%), while the other leaders experienced mixed trends in the export price figures.

Imports of Refined or Synthetic Glycerol

Imports in MENA

In 2022, overseas purchases of refined or synthetic glycerol increased by 2.7% to X tons, rising for the second year in a row after two years of decline. Total imports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

In value terms, refined or synthetic glycerol imports expanded significantly to $X in 2022. In general, imports continue to indicate a strong increase. The growth pace was the most rapid in 2021 when imports increased by 91%. Over the period under review, imports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, the United Arab Emirates (X tons), distantly followed by Egypt (X tons), Turkey (X tons), Saudi Arabia (X tons) and Israel (X tons) represented the largest importers of refined or synthetic glycerol, together achieving 81% of total imports. The following importers - Iran (X tons) and Jordan (X tons) - together made up 7.7% of total imports.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +15.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest refined or synthetic glycerol importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Egypt ($X), with a combined 65% share of total imports. Israel, Jordan, Saudi Arabia and Iran lagged somewhat behind, together accounting for a further 22%.

In terms of the main importing countries, Jordan, with a CAGR of +14.7%, recorded 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 2022, the import price in MENA amounted to $X per ton, surging by 10% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of +1.9% 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 import price increased by +52.5% against 2019 indices. The growth pace was the most rapid in 2021 an increase of 35% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Jordan ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+8.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform