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 noticeable increase 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. Over the period under review, the market attained the peak level at $X in 2022, and then declined in the following year.

Production of Refined or Synthetic Glycerol in MENA

In value terms, refined or synthetic glycerol production expanded significantly to $X in 2023 estimated in export price. The total production indicated moderate growth 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 pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, production attained 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, after three years of decline, there was growth in overseas shipments of refined or synthetic glycerol, when their volume increased by X% to X tons. In general, exports saw perceptible growth. The growth pace was the most rapid in 2019 with an increase of 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 contracted sharply to $X in 2023. Overall, exports recorded a perceptible expansion. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. The level of export peaked at $X in 2022, and then fell remarkably in the following year.

Exports by Country

Turkey (X tons) and the United Arab Emirates (X tons) prevails in exports structure, together committing X% of total exports. It was distantly followed by Jordan (X tons), mixing up a X% share of total exports. Syrian Arab Republic (X tons) and Saudi Arabia (X tons) followed a long way behind the leaders.

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, 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.

Jordan, with a CAGR of X%, recorded 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

In 2023, the export price in MENA amounted to $X per ton, which is down by X% against the previous year. Export price indicated a slight increase 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. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. The level of export peaked at $X per ton in 2022, and then contracted significantly 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

After two years of growth, purchases abroad of refined or synthetic glycerol decreased by X% to X tons in 2023. Total imports indicated a perceptible expansion 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 most prominent rate of growth was recorded in 2014 when imports increased by X%. The volume of import peaked at X tons in 2022, and then declined significantly in the following year.

In value terms, refined or synthetic glycerol imports contracted notably to $X in 2023. Over the period under review, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports attained 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 key importer of refined or synthetic glycerol, constituting X% of total imports. Turkey (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Egypt (X%), Jordan (X%), Iran (X%) and Saudi Arabia (X%). Israel (X tons) took a minor share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. 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. While the share of the United Arab Emirates (X p.p.) and Jordan (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Saudi Arabia (X p.p.), Egypt (X p.p.) and Iran (X p.p.) displayed negative dynamics. 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. The remaining importing countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Turkey (X% per year).

Import Prices by Country

The import price in MENA stood at $X per ton in 2023, declining by X% against the previous year. Import price indicated a temperate expansion 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 import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2022, and then reduced in the following year.

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