Tanzania: Market for Refined or Synthetic Glycerol 2024

Market Size for Refined or Synthetic Glycerol in Tanzania

In 2022, the Tanzanian refined or synthetic glycerol market increased by 60% to $X, rising for the second consecutive year after two years of decline. Overall, consumption continues to indicate a resilient increase. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in years to come.

Exports of Refined or Synthetic Glycerol

Exports from Tanzania

Refined or synthetic glycerol exports from Tanzania soared to X tons in 2022, increasing by 284% compared with the previous year. Over the period under review, exports showed moderate growth. The most prominent rate of growth was recorded in 2021 with an increase of 682%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, refined or synthetic glycerol exports surged to $X in 2022. In general, exports recorded modest growth. The most prominent rate of growth was recorded in 2021 with an increase of 631% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Indonesia (X tons) was the main destination for refined or synthetic glycerol exports from Tanzania, accounting for a 69% share of total exports. Moreover, refined or synthetic glycerol exports to Indonesia exceeded the volume sent to the second major destination, Kenya (X tons), twofold.

From 2012 to 2022, the average annual growth rate of volume to Indonesia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+38.7% per year) and Zambia (-12.5% per year).

In value terms, Kenya ($X), Indonesia ($X) and Zambia ($X) constituted the largest markets for refined or synthetic glycerol exported from Tanzania worldwide, together accounting for 96% of total exports.

Kenya, with a CAGR of +40.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average refined or synthetic glycerol export price stood at $X per ton in 2022, falling by -15.9% against the previous year. Over the period under review, the export price showed a noticeable reduction. The pace of growth was the most pronounced in 2018 when the average export price increased by 11%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Zambia ($X per ton), while the average price for exports to Indonesia ($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 Zambia (+3.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports into Tanzania

In 2022, overseas purchases of refined or synthetic glycerol increased by 95% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports recorded buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of 104%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

In value terms, refined or synthetic glycerol imports surged to $X in 2022. In general, imports saw a prominent increase. The pace of growth was the most pronounced in 2021 when imports increased by 159% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest refined or synthetic glycerol supplier to Tanzania, with a 53% share of total imports. Moreover, refined or synthetic glycerol imports from Indonesia exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), threefold. The third position in this ranking was held by Thailand (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia stood at +85.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+60.2% per year) and Thailand (+41.8% per year).

In value terms, the largest refined or synthetic glycerol suppliers to Tanzania were Thailand ($X), the United Arab Emirates ($X) and India ($X), together comprising 59% of total imports.

The United Arab Emirates, with a CAGR of +61.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average refined or synthetic glycerol import price amounted to $X per ton, waning by -22.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 27%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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 Germany ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Brazil (+12.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform