Romania: Crude Glycerol Market 2024

Crude Glycerol Market Size in Romania

After three years of growth, the Romanian crude glycerol market decreased by -13% to $X in 2021. In general, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Crude glycerol consumption peaked at $X in 2020, and then fell in the following year.

Crude Glycerol Production in Romania

In value terms, crude glycerol production expanded rapidly to $X in 2021 estimated in export price. Overall, production continues to indicate a strong expansion. The pace of growth was the most pronounced in 2018 when the production volume increased by 59%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Crude Glycerol Exports

Exports from Romania

In 2021, exports of crude glycerol, glycerine waters and lyes from Romania skyrocketed to X tons, growing by 68% on the previous year's figure. Over the period under review, exports continue to indicate a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, crude glycerol exports skyrocketed to $X in 2021. In general, exports continue to indicate a resilient expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons), Ukraine (X tons) and Poland (X tons) were the main destinations of crude glycerol exports from Romania, with a combined 62% share of total exports. Germany, China, Italy, Hungary and France lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +56.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) emerged as the key foreign market for crude glycerol, glycerine waters and lyes exports from Romania, comprising 36% of total exports. The second position in the ranking was taken by Poland ($X), with a 15% share of total exports. It was followed by Ukraine, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey totaled +66.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+38.6% per year) and Ukraine (-3.2% per year).

Export Prices by Country

The average crude glycerol export price stood at $X per ton in 2021, growing by 69% against the previous year. In general, export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, crude glycerol export price increased by +102.1% against 2019 indices. 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 external markets. In 2021, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to China (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Glycerol Imports

Imports into Romania

In 2021, purchases abroad of crude glycerol, glycerine waters and lyes was finally on the rise to reach X tons after two years of decline. In general, imports continue to indicate strong growth. The growth pace was the most rapid in 2016 when imports increased by 273%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, crude glycerol imports surged to $X in 2021. Over the period under review, imports continue to indicate resilient growth. The growth pace was the most rapid in 2016 when imports increased by 220% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Bulgaria (X tons) was the main supplier of crude glycerol to Romania, with a 92% share of total imports. Moreover, crude glycerol imports from Bulgaria exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), more than tenfold. The third position in this ranking was held by Austria (X tons), with a 3.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Bulgaria amounted to +31.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (-13.2% per year) and Austria (+132.7% per year).

In value terms, Bulgaria ($X) constituted the largest supplier of crude glycerol, glycerine waters and lyes to Romania, comprising 79% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 9.2% share of total imports. It was followed by Austria, with a 4.5% share.

From 2012 to 2021, the average annual growth rate of value from Bulgaria stood at +28.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+11.5% per year) and Austria (+103.9% per year).

Import Prices by Country

The average crude glycerol import price stood at $X per ton in 2021, with an increase of 15% against the previous year. Overall, the import price, however, recorded a deep contraction. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Poland ($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 Czech Republic (+63.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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