ASEAN: Market for Refined or Synthetic Glycerol 2024

Market Size for Refined or Synthetic Glycerol in ASEAN

After three years of growth, the ASEAN refined or synthetic glycerol market decreased by X% to $X in 2023. The total consumption indicated a mild expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2022, and then contracted significantly in the following year.

Production of Refined or Synthetic Glycerol in ASEAN

In value terms, refined or synthetic glycerol production expanded notably to $X in 2023 estimated in export price. The total production indicated a resilient increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. The level of production peaked at $X in 2021; however, from 2022 to 2023, production remained at a lower figure.

Exports of Refined or Synthetic Glycerol

Exports in ASEAN

After seven years of growth, shipments abroad of refined or synthetic glycerol decreased by X% to X tons in 2023. Overall, exports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2022, and then fell sharply in the following year.

In value terms, refined or synthetic glycerol exports dropped significantly to $X in 2023. In general, exports, however, posted buoyant growth. The pace of growth was the most pronounced in 2014 when exports increased by X%. The level of export peaked at $X in 2022, and then dropped rapidly in the following year.

Exports by Country

Indonesia represented the largest exporter of refined or synthetic glycerol in ASEAN, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Malaysia (X tons), mixing up a X% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

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

In Indonesia, refined or synthetic glycerol exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2023, which is down by X% against the previous year. Export price indicated a modest expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, refined or synthetic glycerol export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per ton in 2022, and then fell in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Indonesia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced a decline in the export price figures.

Imports of Refined or Synthetic Glycerol

Imports in ASEAN

In 2023, after three years of growth, there was significant decline in overseas purchases of refined or synthetic glycerol, when their volume decreased by X% to X tons. Overall, imports, however, saw resilient growth. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports reached the peak of X tons, and then fell markedly in the following year.

In value terms, refined or synthetic glycerol imports shrank markedly to $X in 2023. In general, imports, however, continue to indicate prominent growth. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then declined rapidly in the following year.

Imports by Country

Malaysia (X tons) and Thailand (X tons) prevails in imports structure, together comprising X% of total imports. The Philippines (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Vietnam (X%). Indonesia (X tons) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), Malaysia ($X) and Vietnam ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

In terms of the main importing countries, Vietnam, with a CAGR of X%, recorded 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 2023, the import price in ASEAN amounted to $X per ton, declining by X% against the previous year. In general, the import price recorded a slight decline. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform