Africa: Market for Refined or Synthetic Glycerol 2024

Market Size for Refined or Synthetic Glycerol in Africa

In 2023, after two years of growth, there was significant decline in the African refined or synthetic glycerol market, when its value decreased by X% to $X. The total consumption indicated a perceptible increase 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. The level of consumption peaked at $X in 2022, and then declined in the following year.

Production of Refined or Synthetic Glycerol in Africa

In value terms, refined or synthetic glycerol production rose significantly to $X in 2023 estimated in export price. The total production indicated a pronounced 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. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded 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 Africa

In 2023, shipments abroad of refined or synthetic glycerol decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Total exports indicated a slight 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 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2022, and then contracted dramatically in the following year.

In value terms, refined or synthetic glycerol exports contracted notably to $X in 2023. Overall, exports, however, saw a moderate expansion. The pace of growth appeared the most rapid in 2021 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2022, and then contracted notably in the following year.

Exports by Country

In 2023, South Africa (X tons) represented the largest exporter of refined or synthetic glycerol, making up X% of total exports. Senegal (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Kenya (X%) and Zambia (X%). The following exporters - Egypt (X tons) and Algeria (X tons) - each finished at an X% share of total exports.

South Africa experienced a relatively flat trend pattern with regard to volume of exports of refined or synthetic glycerol. At the same time, Zambia (X%), Senegal (X%), Kenya (X%) and Egypt (X%) displayed positive paces of growth. Moreover, Zambia emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2023. By contrast, Algeria (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.), Zambia (X p.p.) and Kenya (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Algeria (X p.p.) and South Africa (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, South Africa ($X) remains the largest refined or synthetic glycerol supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with an X% share of total exports. It was followed by Kenya, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in South Africa was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Kenya (X% per year).

Export Prices by Country

In 2023, the export price in Africa amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per ton in 2022, and then fell 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 Zambia ($X per ton), while Algeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Zambia (X%), while the other leaders experienced more modest paces of growth.

Imports of Refined or Synthetic Glycerol

Imports in Africa

In 2023, overseas purchases of refined or synthetic glycerol decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Total imports indicated a tangible 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 2022 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then declined significantly in the following year.

In value terms, refined or synthetic glycerol imports dropped dramatically to $X in 2023. Over the period under review, imports, however, posted a noticeable increase. 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, and then contracted significantly in the following year.

Imports by Country

Egypt (X tons) and South Africa (X tons) were the major importers of refined or synthetic glycerol in 2023, recording approx. X% and X% of total imports, respectively. It was distantly followed by Nigeria (X tons), Zambia (X tons), Tanzania (X tons) and Sudan (X tons), together creating a X% share of total imports. The following importers - Kenya (X tons), Cote d'Ivoire (X tons), Ethiopia (X tons), Democratic Republic of the Congo (X tons), Morocco (X tons), Malawi (X tons) and Cameroon (X tons) - together made up X% 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 Democratic Republic of the Congo (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) constitutes the largest market for imported refined or synthetic glycerol in Africa, comprising X% of total imports. The second position in the ranking was held by South Africa ($X), with an X% share of total imports. It was followed by Nigeria, with a X% share.

In Egypt, 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: South Africa (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2023, the import price in Africa amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. Over the period under review, import prices attained the peak figure in 2023 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Malawi ($X per ton), while South Africa ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Democratic Republic of the Congo (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform