Asia-Pacific: Market for Refined or Synthetic Glycerol 2024

Market Size for Refined or Synthetic Glycerol in Asia-Pacific

In 2023, the Asia-Pacific refined or synthetic glycerol market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. The total consumption indicated notable growth 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 in the following year.

Production of Refined or Synthetic Glycerol in Asia-Pacific

In value terms, refined or synthetic glycerol production rose rapidly to $X in 2023 estimated in export price. The total production indicated a noticeable expansion from 2012 to 2023: its value 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, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Refined or Synthetic Glycerol

Exports in Asia-Pacific

After seven years of growth, shipments abroad of refined or synthetic glycerol decreased by X% to X tons in 2023. Overall, exports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2022, and then declined significantly in the following year.

In value terms, refined or synthetic glycerol exports contracted markedly to $X in 2023. In general, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2022, and then contracted notably in the following year.

Exports by Country

In 2023, Indonesia (X tons) represented the largest exporter of refined or synthetic glycerol, comprising X% of total exports. It was distantly followed by Malaysia (X tons), generating a X% share of total exports. Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

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

From 2012 to 2023, the average annual rate of growth in terms of value in Indonesia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Thailand (X% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2023, with a decrease of X% against the previous year. Export price indicated a modest increase 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 most prominent rate of growth was recorded in 2021 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per ton in 2022, and then contracted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2023, 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 Asia-Pacific

In 2023, after six years of growth, there was significant decline in overseas purchases of refined or synthetic glycerol, when their volume decreased by X% to X tons. Over the period under review, imports, however, enjoyed a resilient increase. The pace of growth was the most pronounced in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then contracted significantly in the following year.

In value terms, refined or synthetic glycerol imports shrank notably to $X in 2023. In general, imports, however, enjoyed buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then shrank significantly in the following year.

Imports by Country

China prevails in imports structure, resulting at X tons, which was approx. X% of total imports in 2023. Japan (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by India (X%), Malaysia (X%) and Thailand (X%). South Korea (X tons) took a minor share of total imports.

China was also the fastest-growing in terms of the refined or synthetic glycerol imports, with a CAGR of X% from 2012 to 2023. At the same time, Malaysia (X%), India (X%), Thailand (X%), South Korea (X%) and Japan (X%) displayed positive paces of growth. From 2012 to 2023, the share of China and Malaysia increased by X and X percentage points, respectively.

In value terms, China ($X) constitutes the largest market for imported refined or synthetic glycerol in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Japan ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

In China, refined or synthetic glycerol imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Japan (X% per year) and South Korea (X% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2023, declining by X% against the previous year. Overall, the import price recorded a mild contraction. The growth pace was the most rapid 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 South Korea ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform