The global glycerine market, a key ingredient in pharmaceuticals, personal care, and industrial applications, has witnessed significant price movements in 2024. Glycerine (99.7%) prices have experienced steady growth over the year, reflecting strong demand across multiple sectors. According to recent market data, glycerine prices in October 2024 stood at USD 632 per metric ton (MT), representing a 5% year-on-year (YoY) increase from USD 600 per MT in October 2023. This early-year growth indicated stable demand coupled with balanced supply dynamics.In November 2024, glycerine prices further escalated to USD 667 per MT compared to USD 597 per MT in November 2023, marking a notable 12% YoY increase. The surge was primarily driven by rising consumption in pharmaceutical and personal care industries, alongside steady feedstock costs. The robust demand for glycerine in formulations, cosmetics, and industrial applications supported this upward trend, highlighting the chemical’s importance across multiple sectors.
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December 2024 saw an even sharper rise, with prices reaching USD 707 per MT, up 26% YoY from USD 561 per MT in December 2023. Analysts attribute this significant increase to a combination of heightened end-user demand and fluctuations in raw material availability. The late-year price spike reflects market participants’ anticipation of supply constraints and strategic procurement to secure stocks for early 2025.
Looking ahead, experts predict that glycerine prices may soften in the second half (H2) of 2025. Despite the strong demand observed in 2024, factors such as ample supply, slower growth in downstream sectors, and stable palm oil prices are expected to moderate price trends. Market players are advised to closely monitor supply-demand dynamics and adopt adaptive procurement strategies to navigate potential fluctuations.
The overall glycerine market is expected to maintain steady activity, driven by continued applications in pharmaceuticals, cosmetics, and industrial sectors. Stakeholders, including manufacturers, distributors, and traders, will need to balance inventory levels with market signals to optimize pricing and profitability.
As the glycerine market continues to evolve, price trends in 2025 will likely reflect a balance between supply adequacy and demand recovery. Businesses that strategically assess market intelligence, regional demand patterns, and raw material costs are poised to maintain a competitive edge while adapting to anticipated shifts in the glycerine market landscape.