Middle East: Market for Refined or Synthetic Glycerol 2025

Market Size for Refined or Synthetic Glycerol in the Middle East

The Middle Eastern refined or synthetic glycerol market fell to $X in 2022, shrinking by -7.1% against the previous year. Over the period under review, consumption, however, showed prominent growth. As a result, consumption reached the peak level of $X, and then dropped in the following year.

Production of Refined or Synthetic Glycerol in the Middle East

In value terms, refined or synthetic glycerol production stood at $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.4% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 22%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Refined or Synthetic Glycerol

Exports in the Middle East

In 2022, the amount of refined or synthetic glycerol exported in the Middle East soared to X tons, rising by 57% compared with the previous year. Total exports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.8% 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 +85.1% against 2020 indices. The growth pace was the most rapid in 2015 with an increase of 57%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, refined or synthetic glycerol exports soared to $X in 2022. Over the period under review, exports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2021 when exports increased by 83%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

Turkey was the largest exporter of refined or synthetic glycerol in the Middle East, with the volume of exports finishing at X tons, which was near 66% of total exports in 2022. The United Arab Emirates (X tons) ranks second in terms of the total exports with a 15% share, followed by Saudi Arabia (9.4%) and Jordan (6.1%).

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%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, 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. While the share of Saudi Arabia (+8.2 p.p.) and Turkey (+5.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Jordan (-1.7 p.p.) and the United Arab Emirates (-10.8 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest refined or synthetic glycerol supplier in the Middle East, comprising 73% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% 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. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-5.6% per year) and Jordan (+8.5% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2022, growing by 11% against the previous year. Export price indicated a perceptible increase from 2012 to 2022: its price increased at an average annual rate of +3.1% 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 +71.7% against 2020 indices. The pace of growth was the most pronounced in 2021 when the export price increased by 55% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

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 ($X per ton), while Saudi Arabia ($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 the Middle East

In 2022, refined or synthetic glycerol imports in the Middle East dropped to X tons, with a decrease of -9.8% against 2021 figures. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2021 when imports increased by 49% against the previous year. As a result, imports reached the peak of X tons, and then fell in the following year.

In value terms, refined or synthetic glycerol imports totaled $X in 2022. Overall, imports, however, recorded a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 105% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

Imports by Country

The United Arab Emirates was the key importer of refined or synthetic glycerol in the Middle East, with the volume of imports amounting to X tons, which was near 42% of total imports in 2022. Turkey (X tons) held the second position in the ranking, distantly followed by Saudi Arabia (X tons), Israel (X tons), Iran (X tons) and Jordan (X tons). All these countries together took near 52% share of total imports. Iraq (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to refined or synthetic glycerol imports into the United Arab Emirates stood at +10.2%. At the same time, Iraq (+28.3%), Israel (+15.2%), Saudi Arabia (+6.7%), Turkey (+6.5%) and Jordan (+5.3%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +28.3% from 2012-2022. By contrast, Iran (-7.1%) illustrated a downward trend over the same period. The United Arab Emirates (+11 p.p.) and Israel (+5.3 p.p.) significantly strengthened its position in terms of the total imports, while Iran saw its share reduced by -17.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest refined or synthetic glycerol importing markets in the Middle East were the United Arab Emirates ($X), Turkey ($X) and Israel ($X), together accounting for 72% of total imports. Jordan, Saudi Arabia, Iran and Iraq lagged somewhat behind, together comprising a further 23%.

Among the main importing countries, Iraq, with a CAGR of +31.0%, 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

In 2022, the import price in the Middle East amounted to $X per ton, growing by 12% against the previous year. Import price indicated a temperate expansion from 2012 to 2022: its price increased at an average annual rate of +2.2% 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 +64.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 38% against the previous year. The level of import peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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

Frequently Asked Questions (FAQ) :