Southern Asia: Market for Refined or Synthetic Glycerol 2025

Market Size for Refined or Synthetic Glycerol in Southern Asia

In 2022, the South Asian refined or synthetic glycerol market decreased by -1.9% to $X for the first time since 2017, thus ending a four-year rising trend. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2021, and then contracted modestly in the following year.

Production of Refined or Synthetic Glycerol in Southern Asia

In value terms, refined or synthetic glycerol production totaled $X in 2022 estimated in export price. Over the period under review, production, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2019 with an increase of 23% against the previous year. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Refined or Synthetic Glycerol

Exports in Southern Asia

Refined or synthetic glycerol exports skyrocketed to X tons in 2022, increasing by 52% on 2021 figures. Overall, exports continue to indicate significant growth. The growth pace was the most rapid in 2013 with an increase of 211%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

In value terms, refined or synthetic glycerol exports surged to $X in 2022. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 177% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the near future.

Exports by Country

In 2022, India (X tons) and Pakistan (X tons) was the major exporter of refined or synthetic glycerol in Southern Asia, committing 99% of total export.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Pakistan (with a CAGR of +144.4%).

In value terms, India ($X) and Pakistan ($X) were the countries with the highest levels of exports in 2022.

Pakistan, with a CAGR of +164.7%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, surging by 22% against the previous year. Export price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.2% 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 +36.2% against 2020 indices. The growth pace was the most rapid in 2016 an increase of 44%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Pakistan stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+8.3%).

Imports of Refined or Synthetic Glycerol

Imports in Southern Asia

In 2022, supplies from abroad of refined or synthetic glycerol decreased by -9.1% to X tons for the first time since 2019, thus ending a two-year rising trend. Total imports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.7% 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 +32.6% against 2019 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 45% against the previous year. 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 surged to $X in 2022. Overall, imports, however, showed a strong expansion. The pace of growth was the most pronounced in 2021 when imports increased by 116% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

India was the main importer of refined or synthetic glycerol in Southern Asia, with the volume of imports recording X tons, which was approx. 68% of total imports in 2022. It was distantly followed by Bangladesh (X tons) and Pakistan (X tons), together constituting a 28% share of total imports. Sri Lanka (X tons) held a minor share of total imports.

Imports into India increased at an average annual rate of +3.3% from 2012 to 2022. At the same time, Bangladesh (+12.6%) and Sri Lanka (+12.6%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +12.6% from 2012-2022. By contrast, Pakistan (-1.3%) illustrated a downward trend over the same period. While the share of Bangladesh (+12 p.p.) and Sri Lanka (+1.5 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Pakistan (-4.2 p.p.) and India (-9.5 p.p.) displayed negative dynamics.

In value terms, India ($X) constitutes the largest market for imported refined or synthetic glycerol in Southern Asia, comprising 74% of total imports. The second position in the ranking was taken by Bangladesh ($X), with a 16% share of total imports. It was followed by Pakistan, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India totaled +9.5%. The remaining importing countries recorded the following average annual rates of imports growth: Bangladesh (+13.2% per year) and Pakistan (+6.3% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, surging by 31% against the previous year. Import price indicated tangible growth from 2012 to 2022: its price increased at an average annual rate of +4.9% 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 +120.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by 68%. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Pakistan (+7.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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