MENA: Glycerol Market 2024

Glycerol Market Size in MENA

After two years of growth, the MENA's glycerol market decreased by X% to $X in 2023. Overall, consumption, however, showed a remarkable increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption remained at a lower figure.

Glycerol Production in MENA

In value terms, glycerol production reached $X in 2023 estimated in export price. Over the period under review, production, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2023, production growth failed to regain momentum.

Glycerol Exports

Exports in MENA

In 2023, glycerol exports in MENA declined dramatically to X tons, shrinking by X% on the year before. Total exports indicated a measured increase from 2012 to 2023: its volume 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. The growth pace was the most rapid in 2019 with an increase of X%. As a result, the exports reached the peak of X tons. From 2020 to 2023, the growth of the exports failed to regain momentum.

In value terms, glycerol exports plummeted to $X in 2023. Overall, exports, however, continue to indicate notable growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports reached the maximum at $X in 2022, and then dropped rapidly in the following year.

Exports by Country

Turkey (X tons) and the United Arab Emirates (X tons) dominates exports structure, together creating X% of total exports. It was distantly followed by Jordan (X tons), creating a X% share of total exports. Syrian Arab Republic (X tons), Saudi Arabia (X tons) and Tunisia (X tons) took a little share of total exports.

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

In value terms, Turkey ($X), the United Arab Emirates ($X) and Jordan ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Saudi Arabia, Tunisia and Syrian Arab Republic lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in MENA stood at $X per ton in 2023, reducing by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2022, and then reduced dramatically in the following year.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%), while the other leaders experienced more modest paces of growth.

Glycerol Imports

Imports in MENA

In 2023, after two years of growth, there was significant decline in overseas purchases of glycerol, when their volume decreased by X% to X tons. Overall, imports, however, continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports reached the peak of X tons, and then contracted markedly in the following year.

In value terms, glycerol imports shrank notably to $X in 2023. In general, imports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then contracted significantly in the following year.

Imports by Country

In 2023, Turkey (X tons) and the United Arab Emirates (X tons) represented the largest importers of glycerol in MENA, together resulting at near X% of total imports. It was distantly followed by Egypt (X tons), Iran (X tons) and Jordan (X tons), together achieving a X% share of total imports. Saudi Arabia (X tons) and Israel (X tons) followed a long way behind the leaders.

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

In value terms, the largest glycerol importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Egypt ($X), with a combined X% share of total imports. Iran, Jordan, Saudi Arabia and Israel lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Jordan, with a CAGR of X%, recorded the highest growth rate of 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

The import price in MENA stood at $X per ton in 2023, increasing by X% against the previous year. Import price indicated a slight 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, glycerol import price increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked in 2023 and is likely to see gradual growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform