Spain: Crude Glycerol Market 2024

Crude Glycerol Market Size in Spain

In 2021, the Spanish crude glycerol market decreased by -26.4% to $X, falling for the second year in a row after four years of growth. Over the period under review, consumption showed a perceptible shrinkage. Crude glycerol consumption peaked at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Crude Glycerol Production in Spain

In value terms, crude glycerol production soared to $X in 2021 estimated in export price. Overall, the total production indicated moderate growth from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Crude Glycerol Exports

Exports from Spain

In 2021, crude glycerol exports from Spain reduced to X tons, declining by -5.7% against the previous year. Over the period under review, exports, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 105% against the previous year. The exports peaked at X tons in 2020, and then fell in the following year.

In value terms, crude glycerol exports skyrocketed to $X in 2021. In general, exports, however, showed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 150% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

The Netherlands (X tons), China (X tons) and India (X tons) were the main destinations of crude glycerol exports from Spain, together accounting for 81% of total exports. Turkey, France, Cyprus, Pakistan, Italy and Ukraine lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Turkey (with a CAGR of +153.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for crude glycerol exported from Spain were the Netherlands ($X), China ($X) and India ($X), together accounting for 81% of total exports. These countries were followed by Pakistan, Turkey, Cyprus, France, Italy and Ukraine, which together accounted for a further 12%.

Turkey, with a CAGR of +156.7%, saw the highest growth rate of the value of exports, among 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 crude glycerol export price stood at $X per ton in 2021, rising by 106% against the previous year. Over the period under review, the export price continues to indicate a measured increase. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Pakistan ($X per ton), while the average price for exports to France ($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 Pakistan (+29.2%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Glycerol Imports

Imports into Spain

In 2021, supplies from abroad of crude glycerol, glycerine waters and lyes was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports, however, saw a deep slump. The growth pace was the most rapid in 2018 when imports increased by 255%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, crude glycerol imports soared to $X in 2021. Over the period under review, imports, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2018 when imports increased by 203% against the previous year. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Portugal (X tons) constituted the largest supplier of crude glycerol to Spain, accounting for a 48% share of total imports. Moreover, crude glycerol imports from Portugal exceeded the figures recorded by the second-largest supplier, France (X tons), twofold. The third position in this ranking was taken by Germany (X tons), with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Portugal stood at -10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (-10.9% per year) and Germany (+4.9% per year).

In value terms, the largest crude glycerol suppliers to Spain were Germany ($X), France ($X) and Portugal ($X), together accounting for 76% of total imports.

In terms of the main suppliers, Germany, with a CAGR of +9.7%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average crude glycerol import price stood at $X per ton in 2021, picking up by 95% against the previous year. In general, import price indicated a notable expansion from 2012 to 2021: its price increased at an average annual rate of +2.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached 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 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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