Portugal: Market for Refined or Synthetic Glycerol 2025

Market Size for Refined or Synthetic Glycerol in Portugal

The Portuguese refined or synthetic glycerol market rose notably to $X in 2022, growing by 14% against the previous year. Overall, the total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.4% 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 +6.4% against 2019 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the near future.

Production of Refined or Synthetic Glycerol in Portugal

In value terms, refined or synthetic glycerol production declined to $X in 2022 estimated in export price. In general, production continues to indicate a mild downturn. The most prominent rate of growth was recorded in 2014 with an increase of 78% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Exports of Refined or Synthetic Glycerol

Exports from Portugal

In 2022, shipments abroad of refined or synthetic glycerol decreased by -52.8% to X tons, falling for the eighth consecutive year after three years of growth. Over the period under review, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when exports increased by 316%. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, refined or synthetic glycerol exports totaled $X in 2022. In general, exports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 278% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for refined or synthetic glycerol exports from Portugal, accounting for a 51% share of total exports. Moreover, refined or synthetic glycerol exports to Spain exceeded the volume sent to the second major destination, Turkey (X tons), twofold. Angola (X tons) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Spain totaled -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (0.0% per year) and Angola (+33.2% per year).

In value terms, Angola ($X) emerged as the key foreign market for refined or synthetic glycerol exports from Portugal, comprising 57% of total exports. The second position in the ranking was held by Spain ($X), with a 23% share of total exports. It was followed by Turkey, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Angola stood at +36.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-0.5% per year) and Turkey (0.0% per year).

Export Prices by Country

The average refined or synthetic glycerol export price stood at $X per ton in 2022, with an increase of 112% against the previous year. Overall, the export price saw a resilient expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Angola ($X per ton), while the average price for exports to Spain ($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 Egypt (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports into Portugal

In 2022, purchases abroad of refined or synthetic glycerol increased by 26% to X tons, rising for the second consecutive year after two years of decline. Overall, imports saw prominent growth. The most prominent rate of growth was recorded in 2016 when imports increased by 47% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, refined or synthetic glycerol imports soared to $X in 2022. Over the period under review, imports showed a strong increase. The growth pace was the most rapid in 2018 with an increase of 76%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of refined or synthetic glycerol to Portugal, with a 39% share of total imports. Moreover, refined or synthetic glycerol imports from Brazil exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. The third position in this ranking was held by Germany (X tons), with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil amounted to +56.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (-3.9% per year) and Germany (+23.1% per year).

In value terms, the largest refined or synthetic glycerol suppliers to Portugal were Spain ($X), Germany ($X) and Brazil ($X), with a combined 70% share of total imports.

Brazil, with a CAGR of +61.1%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refined or synthetic glycerol import price amounted to $X per ton, surging by 20% against the previous year. Overall, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +3.6% 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 +91.4% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of 41%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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 Spain ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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