South-Eastern Asia: Market for Refined or Synthetic Glycerol 2025

Market Size for Refined or Synthetic Glycerol in South-Eastern Asia

The Southeast Asian refined or synthetic glycerol market was finally on the rise to reach $X in 2022, after two years of decline. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2022 and is likely to see steady growth in the near future.

Production of Refined or Synthetic Glycerol in South-Eastern Asia

In value terms, refined or synthetic glycerol production reached $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.0% against 2020 indices. The pace of growth appeared the most rapid in 2017 when the production volume increased by 44%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Refined or Synthetic Glycerol

Exports in South-Eastern Asia

For the fourth year in a row, South-Eastern Asia recorded growth in shipments abroad of refined or synthetic glycerol, which increased by 89% to X tons in 2022. Overall, exports saw a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, refined or synthetic glycerol exports surged to $X in 2022. In general, exports enjoyed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia was the key exporter of refined or synthetic glycerol in South-Eastern Asia, with the volume of exports reaching X tons, which was near 82% of total exports in 2022. It was distantly followed by Malaysia (X tons), committing a 16% share of total exports. Thailand (X tons) followed a long way behind the leaders.

Indonesia was also the fastest-growing in terms of the refined or synthetic glycerol exports, with a CAGR of +22.0% from 2012 to 2022. At the same time, Thailand (+12.2%) and Malaysia (+2.1%) displayed positive paces of growth. Indonesia (+39 p.p.) significantly strengthened its position in terms of the total exports, while Malaysia saw its share reduced by -33.4% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest refined or synthetic glycerol supplier in South-Eastern Asia, comprising 81% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 16% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Indonesia amounted to +26.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+3.5% per year) and Thailand (+18.0% per year).

Export Prices by Country

The export price in South-Eastern Asia stood at $X per ton in 2022, surging by 5.7% against the previous year. Export price indicated a moderate expansion from 2012 to 2022: its price increased at an average annual rate of +2.1% 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 export price increased by +53.4% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 45%. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Thailand (+5.2%), while the other leaders experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports in South-Eastern Asia

In 2022, after two years of growth, there was decline in supplies from abroad of refined or synthetic glycerol, when their volume decreased by -2.5% to X tons. Total imports indicated a notable expansion from 2012 to 2022: its volume 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, imports increased by +30.3% against 2019 indices. The most prominent rate of growth was recorded in 2016 with an increase of 39%. Over the period under review, imports attained the maximum at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, refined or synthetic glycerol imports skyrocketed to $X in 2022. Over the period under review, imports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2021 when imports increased by 88%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

In 2022, Thailand (X tons) was the largest importer of refined or synthetic glycerol, creating 41% of total imports. Malaysia (X tons) ranks second in terms of the total imports with a 20% share, followed by the Philippines (18%), Vietnam (11%) and Indonesia (4.9%). Singapore (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to refined or synthetic glycerol imports into Thailand stood at +1.7%. At the same time, Vietnam (+12.4%), the Philippines (+12.4%), Indonesia (+10.9%) and Malaysia (+4.1%) displayed positive paces of growth. Moreover, Vietnam emerged as the fastest-growing importer imported in South-Eastern Asia, with a CAGR of +12.4% from 2012-2022. By contrast, Singapore (-10.8%) illustrated a downward trend over the same period. The Philippines (+10 p.p.), Vietnam (+6.4 p.p.) and Indonesia (+2.4 p.p.) significantly strengthened its position in terms of the total imports, while Thailand and Singapore saw its share reduced by -8.3% and -12.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) constitutes the largest market for imported refined or synthetic glycerol in South-Eastern Asia, comprising 47% of total imports. The second position in the ranking was taken by the Philippines ($X), with a 23% share of total imports. It was followed by Malaysia, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand amounted to +8.9%. The remaining importing countries recorded the following average annual rates of imports growth: the Philippines (+19.6% per year) and Malaysia (+4.7% per year).

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, picking up by 41% against the previous year. Import price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.4% 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 +99.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 42% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+9.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :