Slovakia: Market for Refined or Synthetic Glycerol 2024

Market Size for Refined or Synthetic Glycerol in Slovakia

The Slovak refined or synthetic glycerol market surged to $X in 2022, growing by 81% against the previous year. In general, consumption posted significant growth. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Production of Refined or Synthetic Glycerol in Slovakia

In value terms, refined or synthetic glycerol production soared to $X in 2022 estimated in export price. Over the period under review, production, however, faced a abrupt setback. Refined or synthetic glycerol production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Refined or Synthetic Glycerol

Exports from Slovakia

In 2022, approx. X kg of refined or synthetic glycerol were exported from Slovakia; falling by -99.9% compared with 2021 figures. Overall, exports continue to indicate a dramatic shrinkage. The most prominent rate of growth was recorded in 2015 with an increase of 454% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, refined or synthetic glycerol exports dropped rapidly to $X in 2022. In general, exports faced a precipitous shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 1,263%. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Germany (X kg), Hungary (X kg) and Poland (X kg) were the main destinations of refined or synthetic glycerol exports from Slovakia, with a combined 88% share of total exports. Canada and the Czech Republic lagged somewhat behind, together accounting for a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +257.1%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for refined or synthetic glycerol exported from Slovakia were Germany ($X), Hungary ($X) and Poland ($X), together accounting for 90% of total exports. Canada and the Czech Republic lagged somewhat behind, together accounting for a further 10%.

In terms of the main countries of destination, Canada, with a CAGR of +98.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2022, the average refined or synthetic glycerol export price amounted to $X per ton, increasing by 96% against the previous year. Over the period under review, the export price continues to indicate a slight increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 207%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Poland ($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 Croatia (+22.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports into Slovakia

After ten years of growth, overseas purchases of refined or synthetic glycerol decreased by -14.2% to X tons in 2022. In general, imports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2013 with an increase of 99% against the previous year. Imports peaked at X tons in 2021, and then reduced in the following year.

In value terms, refined or synthetic glycerol imports soared to $X in 2022. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2013 with an increase of 80% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of refined or synthetic glycerol to Slovakia, with a 73% share of total imports. Moreover, refined or synthetic glycerol imports from Germany exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), fivefold. The third position in this ranking was taken by Malaysia (X tons), with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +26.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+11.0% per year) and Malaysia (+273.1% per year).

In value terms, Germany ($X) constituted the largest supplier of refined or synthetic glycerol to Slovakia, comprising 66% of total imports. The second position in the ranking was held by Malaysia ($X), with a 20% share of total imports. It was followed by the Czech Republic, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +32.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+261.1% per year) and the Czech Republic (+12.0% per year).

Import Prices by Country

In 2022, the average refined or synthetic glycerol import price amounted to $X per ton, picking up by 86% against the previous year. Overall, the import price continues to indicate a strong expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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