Thailand: Market for Refined or Synthetic Glycerol 2024

Market Size for Refined or Synthetic Glycerol in Thailand

In 2022, the Thai refined or synthetic glycerol market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded a remarkable increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Refined or Synthetic Glycerol in Thailand

In value terms, refined or synthetic glycerol production expanded notably to $X in 2022 estimated in export price. Overall, production showed a resilient expansion. The pace of growth appeared the most rapid in 2017 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Exports of Refined or Synthetic Glycerol

Exports from Thailand

In 2022, the amount of refined or synthetic glycerol exported from Thailand dropped to X tons, falling by X% on the previous year. Over the period under review, exports, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, refined or synthetic glycerol exports skyrocketed to $X in 2022. In general, exports, however, saw a strong increase. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for refined or synthetic glycerol exports from Thailand, with a X% share of total exports. Moreover, refined or synthetic glycerol exports to China exceeded the volume sent to the second major destination, the United States (X tons), fourfold. Japan (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2022, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

In value terms, China ($X) remains the key foreign market for refined or synthetic glycerol exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Japan (X% per year).

Export Prices by Country

In 2022, the average refined or synthetic glycerol export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price saw prominent growth. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the average export prices hit record highs in 2022 and is likely to continue growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Israel ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports into Thailand

In 2022, supplies from abroad of refined or synthetic glycerol increased by X% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, refined or synthetic glycerol imports soared to $X in 2022. In general, imports posted strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Indonesia (X tons) constituted the largest refined or synthetic glycerol supplier to Thailand, accounting for a X% share of total imports. Moreover, refined or synthetic glycerol imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Indonesia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Argentina (X% per year).

In value terms, Indonesia ($X) constituted the largest supplier of refined or synthetic glycerol to Thailand, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with an X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2022, the average refined or synthetic glycerol import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price continues to indicate a strong increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Malaysia ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform