New Zealand: Crude Glycerol Market 2024

Crude Glycerol Market Size in New Zealand

In 2021, the New Zealand crude glycerol market increased by 9.5% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% 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 -10.6% against 2018 indices. Crude glycerol consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Crude Glycerol Production in New Zealand

In value terms, crude glycerol production amounted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 48%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Crude Glycerol Exports

Exports from New Zealand

After two years of growth, overseas shipments of crude glycerol, glycerine waters and lyes decreased by -20% to X kg in 2016. In general, exports, however, showed a significant expansion. The pace of growth was the most pronounced in 2015 when exports increased by 1,150% against the previous year. As a result, the exports attained the peak of X kg, and then shrank remarkably in the following year.

In value terms, crude glycerol exports skyrocketed to $X in 2016. Overall, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 2,143%. The exports peaked in 2016 and are likely to see gradual growth in the near future.

Exports by Country

Fiji (X kg) was the main destination for crude glycerol exports from New Zealand, accounting for a 85% share of total exports. Moreover, crude glycerol exports to Fiji exceeded the volume sent to the second major destination, Canada (X kg), sixfold.

From 2014 to 2016, the average annual growth rate of volume to Fiji totaled +191.5%.

In value terms, Fiji ($X) remains the key foreign market for crude glycerol, glycerine waters and lyes exports from New Zealand, comprising 97% of total exports. The second position in the ranking was taken by Canada ($X), with a 2.7% share of total exports.

From 2014 to 2016, the average annual rate of growth in terms of value to Fiji amounted to +498.6%.

Export Prices by Country

The average crude glycerol export price stood at $X per ton in 2016, with an increase of 79% against the previous year. Overall, the export price enjoyed significant growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2016, amid the top suppliers, the country with the highest price was Fiji ($X per ton), while the average price for exports to Canada totaled $X per ton.

From 2014 to 2016, the most notable rate of growth in terms of prices was recorded for supplies to Fiji (+79.4%).

Crude Glycerol Imports

Imports into New Zealand

For the third year in a row, New Zealand recorded growth in overseas purchases of crude glycerol, glycerine waters and lyes, which increased by 90% to X tons in 2021. Over the period under review, imports, however, continue to indicate a deep setback. The pace of growth was the most pronounced in 2020 with an increase of 8,730%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, crude glycerol imports shrank sharply to $X in 2021. Overall, imports, however, recorded a abrupt descent. The pace of growth was the most pronounced in 2020 when imports increased by 6,800% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Thailand (X tons), Malaysia (X tons) and the Philippines (X kg) were the main suppliers of crude glycerol imports to New Zealand, together accounting for 99% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Thailand (with a CAGR of +27.6%), while imports for the other leaders experienced a decline.

In value terms, Thailand ($X) constituted the largest supplier of crude glycerol, glycerine waters and lyes to New Zealand, comprising 53% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 20% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Thailand amounted to +23.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (-19.9% per year) and the Philippines (-2.4% per year).

Import Prices by Country

In 2021, the average crude glycerol import price amounted to $X per ton, waning by -55.6% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 an increase of 208% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Philippines (+23.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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