MENA: Market for Refined or Synthetic Glycerol 2024

Market Size for Refined or Synthetic Glycerol in MENA

After three years of growth, the MENA's refined or synthetic glycerol market decreased by X% to $X in 2023. The total consumption indicated a tangible 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, consumption increased by X% against 2018 indices. The level of consumption peaked at $X in 2022, and then shrank in the following year.

Production of Refined or Synthetic Glycerol in MENA

In value terms, refined or synthetic glycerol production reached $X in 2023 estimated in export price. The total production indicated a notable 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. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Exports of Refined or Synthetic Glycerol

Exports in MENA

In 2023, overseas shipments of refined or synthetic glycerol were finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. Over the period under review, exports continue to indicate a measured expansion. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2023, the growth of the exports remained at a lower figure.

In value terms, refined or synthetic glycerol exports fell markedly to $X in 2023. Overall, exports showed noticeable growth. The most prominent rate of growth was recorded in 2018 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

Turkey (X tons) and the United Arab Emirates (X tons) dominates exports structure, together achieving X% of total exports. It was distantly followed by Jordan (X tons), committing 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 main exporting countries, was attained by Saudi Arabia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest refined or synthetic glycerol supplying countries in MENA were Turkey ($X), the United Arab Emirates ($X) and Jordan ($X), together comprising X% of total exports.

In terms of the main exporting countries, Jordan, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the export price in MENA amounted to $X per ton, waning by X% against the previous year. Export price indicated mild growth 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. The growth pace was the most rapid in 2021 an increase of 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 fell sharply 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 Jordan (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Refined or Synthetic Glycerol

Imports in MENA

In 2023, after two years of growth, there was significant decline in overseas purchases of refined or synthetic glycerol, when their volume decreased by X% to X tons. Total imports indicated a pronounced increase from 2012 to 2023: its volume 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, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2022, and then contracted markedly in the following year.

In value terms, refined or synthetic glycerol imports contracted rapidly to $X in 2023. Over the period under review, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports reached the peak of $X, and then reduced notably in the following year.

Imports by Country

In 2023, the United Arab Emirates (X tons) was the major importer of refined or synthetic glycerol, creating X% of total imports. Turkey (X tons) held the second position in the ranking, followed by Egypt (X tons), Jordan (X tons), Iran (X tons) and Saudi Arabia (X tons). All these countries together took near X% share of total imports. Israel (X tons) took a little share of total imports.

From 2012 to 2023, average annual rates of growth with regard to refined or synthetic glycerol imports into the United Arab Emirates stood at X%. At the same time, Jordan (X%), Turkey (X%) and Israel (X%) displayed positive paces of growth. Moreover, Jordan emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2023. Saudi Arabia and Egypt experienced a relatively flat trend pattern. By contrast, Iran (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of the United Arab Emirates and Jordan increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported refined or synthetic glycerol in MENA, comprising X% of total imports. The second position in the ranking was taken by Egypt ($X), with a X% share of total imports. It was followed by Turkey, with a X% share.

In the United Arab Emirates, refined or synthetic glycerol imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Egypt (X% per year) and Turkey (X% per year).

Import Prices by Country

In 2023, the import price in MENA amounted to $X per ton, dropping by X% against the previous year. Import price indicated moderate 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, refined or synthetic glycerol import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2022, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iran ($X per ton), while Turkey ($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