Middle East: Glycerol Market 2024

Glycerol Market Size in the Middle East

In 2023, after two years of growth, there was significant decline in the Middle Eastern glycerol market, when its value decreased by X% to $X. In general, consumption, however, saw buoyant growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Glycerol Production in the Middle East

In value terms, glycerol production totaled $X in 2023 estimated in export price. Over the period under review, production, however, showed a strong expansion. The growth pace was the most rapid in 2019 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2020 to 2023, production growth remained at a somewhat lower figure.

Glycerol Exports

Exports in the Middle East

In 2023, glycerol exports in the Middle East shrank significantly to X tons, with a decrease of X% compared with 2022. Overall, exports, however, posted a measured expansion. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, the exports attained the peak of X tons. From 2020 to 2023, the growth of the exports failed to regain momentum.

In value terms, glycerol exports dropped notably to $X in 2023. Over the period under review, exports, however, posted a moderate increase. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2022, and then shrank notably in the following year.

Exports by Country

Turkey (X tons) and the United Arab Emirates (X tons) prevails in exports structure, together generating X% of total exports. It was distantly followed by Jordan (X tons), generating a X% share of total exports. The following exporters - Syrian Arab Republic (X tons) and Saudi Arabia (X tons) - together made up X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key 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, the largest glycerol supplying countries in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Jordan ($X), together comprising X% of total exports. Saudi Arabia and Syrian Arab Republic lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, dropping by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then reduced remarkably 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 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 the Middle East

In 2023, after two years of growth, there was significant decline in purchases abroad of glycerol, when their volume decreased by X% to X tons. Over the period under review, imports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then reduced notably in the following year.

In value terms, glycerol imports plummeted to $X in 2023. Overall, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of import peaked at $X in 2022, and then contracted markedly in the following year.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) represented the major importers of glycerol in 2023, finishing at near X% and X% of total imports, respectively. Iran (X tons) ranks next in terms of the total imports with an X% share, followed by Jordan (X%) and Saudi Arabia (X%). Israel (X tons) and Lebanon (X tons) took a minor share of total imports.

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

In value terms, the United Arab Emirates ($X), Turkey ($X) and Iran ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Jordan, Saudi Arabia, Israel and Lebanon lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Lebanon, with a CAGR of X%, saw 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

In 2023, the import price in the Middle East amounted to $X per ton, rising by X% against the previous year. Import price indicated modest growth from 2012 to 2023: its price 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, glycerol import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the near future.

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 Lebanon ($X per ton), while Turkey ($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