South Africa: Crude Glycerol Market 2024

Crude Glycerol Market Size in South Africa

The South African crude glycerol market dropped to $X in 2021, leveling off at the previous year. In general, the total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +6.4% against 2019 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Crude Glycerol Production in South Africa

In value terms, crude glycerol production fell to $X in 2021 estimated in export price. In general, the total production indicated a tangible expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +5.0% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 69% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Crude Glycerol Exports

Exports from South Africa

In 2021, overseas shipments of crude glycerol, glycerine waters and lyes were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 75% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, crude glycerol exports rose rapidly to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable decline. The most prominent rate of growth was recorded in 2014 with an increase of 55%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Mozambique (X tons) was the main destination for crude glycerol exports from South Africa, accounting for a 40% share of total exports. Moreover, crude glycerol exports to Mozambique exceeded the volume sent to the second major destination, Democratic Republic of the Congo (X tons), twofold. Malawi (X tons) ranked third in terms of total exports with a 9% share.

From 2012 to 2021, the average annual growth rate of volume to Mozambique amounted to +13.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Democratic Republic of the Congo (+2.7% per year) and Malawi (+27.1% per year).

In value terms, Democratic Republic of the Congo ($X) emerged as the key foreign market for crude glycerol, glycerine waters and lyes exports from South Africa, comprising 30% of total exports. The second position in the ranking was held by Botswana ($X), with a 15% share of total exports. It was followed by Mozambique, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Democratic Republic of the Congo totaled +2.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Botswana (-7.2% per year) and Mozambique (+2.9% per year).

Export Prices by Country

In 2021, the average crude glycerol export price amounted to $X per ton, declining by -28.4% against the previous year. Over the period under review, the export price recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2017 an increase of 62% against the previous year. The export price peaked at $X per ton in 2020, and then fell significantly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Swaziland ($X per ton), while the average price for exports to Mozambique ($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 Swaziland (+9.1%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Glycerol Imports

Imports into South Africa

In 2021, approx. X tons of crude glycerol, glycerine waters and lyes were imported into South Africa; jumping by 29% on the previous year. Overall, total imports indicated notable growth from 2012 to 2021: its volume increased at an average annual rate of +2.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +58.4% against 2019 indices. The growth pace was the most rapid in 2017 when imports increased by 88% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, crude glycerol imports surged to $X in 2021. Over the period under review, imports recorded a noticeable increase. The pace of growth was the most pronounced in 2017 when imports increased by 119%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Portugal (X tons), Brazil (X tons) and Argentina (X tons) were the main suppliers of crude glycerol imports to South Africa, with a combined 95% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Portugal (with a CAGR of +27.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest crude glycerol suppliers to South Africa were Portugal ($X), Brazil ($X) and Argentina ($X), together comprising 90% of total imports.

Among the main suppliers, Portugal, with a CAGR of +27.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average crude glycerol import price amounted to $X per ton, with an increase of 48% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 66%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Argentina (+14.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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