Singapore: Market for Refined or Synthetic Glycerol 2025

Market Size for Refined or Synthetic Glycerol in Singapore

The Singaporean refined or synthetic glycerol market soared to $X in 2022, picking up by 55% against the previous year. Overall, consumption continues to indicate buoyant growth. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Refined or Synthetic Glycerol in Singapore

In value terms, refined or synthetic glycerol production rose slightly to $X in 2022 estimated in export price. In general, production showed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 89% against the previous year. 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 from Singapore

In 2022, after two years of growth, there was significant decline in overseas shipments of refined or synthetic glycerol, when their volume decreased by -68.9% to X tons. In general, exports continue to indicate a significant contraction. The most prominent rate of growth was recorded in 2018 with an increase of 944%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, refined or synthetic glycerol exports declined remarkably to $X in 2022. Over the period under review, exports faced a abrupt decline. The pace of growth appeared the most rapid in 2018 when exports increased by 514%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bangladesh (X tons), the United States (X tons) and Indonesia (X tons) were the main destinations of refined or synthetic glycerol exports from Singapore, with a combined 69% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Bangladesh (with a CAGR of +117.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for refined or synthetic glycerol exported from Singapore were Malaysia ($X), Bangladesh ($X) and the United States ($X), together accounting for 81% of total exports.

Bangladesh, with a CAGR of +126.7%, recorded the highest growth rate of the value of exports, in terms of 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, increasing by 158% against the previous year. In general, the export price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 229% against the previous year. Over the period under review, the average export prices reached the peak figure in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to Myanmar ($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 Malaysia (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports into Singapore

In 2022, approx. X tons of refined or synthetic glycerol were imported into Singapore; which is down by -5.4% compared with the year before. In general, imports saw a deep slump. The pace of growth was the most pronounced in 2021 with an increase of 56% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, refined or synthetic glycerol imports surged to $X in 2022. Over the period under review, imports continue to indicate a noticeable reduction. The growth pace was the most rapid in 2020 with an increase of 44%. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and China (X tons) were the main suppliers of refined or synthetic glycerol imports to Singapore, together accounting for 93% of total imports. Thailand and the United States lagged somewhat behind, together comprising a further 3.9%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +216.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of refined or synthetic glycerol to Singapore, comprising 60% of total imports. The second position in the ranking was taken by Indonesia ($X), with an 18% share of total imports. It was followed by the United States, with a 4.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia amounted to +6.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (-14.6% per year) and the United States (+2.2% 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 42% against the previous year. Overall, the import price posted a prominent increase. The growth pace was the most rapid in 2020 when the average import price increased by 55% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain 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 the United States ($X per ton), while the price for China ($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 (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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