MENA: Glycerol Market 2024

Glycerol Market Size in MENA

In 2023, the MENA's glycerol market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. The total consumption indicated prominent 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. Based on 2023 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market attained the maximum level at $X in 2022, and then declined in the following year.

Glycerol Production in MENA

In value terms, glycerol production totaled $X in 2023 estimated in export price. Over the period under review, production, however, showed a prominent expansion. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. 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

Glycerol exports shrank significantly to X tons in 2023, with a decrease of X% on the previous year's figure. Total exports indicated a moderate 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 pace of growth appeared the most rapid 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 somewhat lower figure.

In value terms, glycerol exports reduced remarkably to $X in 2023. Overall, exports, however, showed a moderate expansion. The growth pace was 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 reduced dramatically 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. Syrian Arab Republic (X tons), Saudi Arabia (X tons) and Tunisia (X tons) held a little share of total exports.

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

In value terms, the largest glycerol supplying countries in MENA were Turkey ($X), the United Arab Emirates ($X) and Jordan ($X), together accounting for X% of total exports. Saudi Arabia, Tunisia and Syrian Arab Republic lagged somewhat behind, together accounting for a further X%.

Saudi Arabia, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of 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

The export price in MENA stood at $X per ton in 2023, reducing by X% against the previous year. In general, the export price, however, showed 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 shrank rapidly 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. In general, imports, however, continue to indicate resilient growth. 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 shrank notably in the following year.

In value terms, glycerol imports reduced notably to $X in 2023. Overall, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when imports increased by X%. The level of import peaked at $X in 2022, and then dropped significantly in the following year.

Imports by Country

In 2023, Turkey (X tons) and the United Arab Emirates (X tons) were the main importers of glycerol in MENA, together reaching near X% of total imports. Egypt (X tons) took the next position in the ranking, followed by Iran (X tons) and Jordan (X tons). All these countries together took near X% share of total imports. The following importers - Saudi Arabia (X tons) and Israel (X tons) - together made up X% of total imports.

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 United Arab Emirates ($X), Turkey ($X) and Egypt ($X) were the countries with the highest levels of imports in 2023, together accounting for X% 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%, 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 MENA amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a slight expansion 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 most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices hit record highs in 2023 and is expected to retain growth in the immediate term.

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 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