Norway: Market for Refined or Synthetic Glycerol 2025

Market Size for Refined or Synthetic Glycerol in Norway

The Norwegian refined or synthetic glycerol market expanded significantly to $X in 2022, surging by 5.2% against the previous year. The market value increased at an average annual rate of +2.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Refined or synthetic glycerol consumption peaked in 2022 and is likely to see gradual growth in years to come.

Production of Refined or Synthetic Glycerol in Norway

In value terms, refined or synthetic glycerol production contracted slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% 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 with an increase of 37% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Refined or Synthetic Glycerol

Exports from Norway

In 2022, after two years of growth, there was significant decline in overseas shipments of refined or synthetic glycerol, when their volume decreased by -26.9% to X tons. In general, exports, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2017 when exports increased by 828% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, refined or synthetic glycerol exports declined dramatically to $X in 2022. Over the period under review, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2017 with an increase of 586% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons), Sweden (X tons) and Italy (X tons) were the main destinations of refined or synthetic glycerol exports from Norway, with a combined 99% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +142.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refined or synthetic glycerol exported from Norway were the United States ($X), Sweden ($X) and Italy ($X), together accounting for 95% of total exports.

The United States, with a CAGR of +68.1%, saw the highest growth rate of 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

The average refined or synthetic glycerol export price stood at $X per ton in 2022, reducing by -42.4% against the previous year. Overall, the export price, however, showed a measured increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 387% against the previous year. The export price peaked at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

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 Italy ($X per ton), while the average price for exports to Sweden ($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 Sweden (+14.9%), while the prices for the other major destinations experienced a decline.

Imports of Refined or Synthetic Glycerol

Imports into Norway

In 2022, overseas purchases of refined or synthetic glycerol increased by 23% to X tons, rising for the second year in a row after two years of decline. In general, total imports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.9% 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 +35.8% against 2020 indices. The pace of growth appeared the most rapid in 2017 when imports increased by 30% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, refined or synthetic glycerol imports soared to $X in 2022. Over the period under review, imports enjoyed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Sweden (X tons) constituted the largest refined or synthetic glycerol supplier to Norway, accounting for a 59% share of total imports. Moreover, refined or synthetic glycerol imports from Sweden exceeded the figures recorded by the second-largest supplier, Denmark (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from Sweden amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+12.1% per year) and Germany (+1.9% per year).

In value terms, Sweden ($X) constituted the largest supplier of refined or synthetic glycerol to Norway, comprising 63% of total imports. The second position in the ranking was held by Denmark ($X), with a 17% share of total imports. It was followed by Germany, with a 9.1% share.

From 2012 to 2022, the average annual growth rate of value from Sweden amounted to +21.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Denmark (+14.6% per year) and Germany (+8.8% per year).

Import Prices by Country

The average refined or synthetic glycerol import price stood at $X per ton in 2022, with an increase of 79% against the previous year. Over the period under review, the import price enjoyed buoyant growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+17.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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