In 2023–2024, the United States, Germany, and the Netherlands were the leading exporters of glycerol (CAS 56-81-5), collectively accounting for over 40% of global exports by value; major importers included China, India, and Mexico, with China consistently the largest importer. Imports by India and Mexico have grown steadily since 2022, coinciding with moderate upward pressure on glycerol prices amid tightening supply from biodiesel co-production constraints.
Glycerin Market Intelligence Report – Recent Commodity Market Dynamics
I. Price Dynamics
1. Quotations in Major Domestic Regions
- Jinan City, Shandong Province:
Indonesian Chunjin glycerin (99.7% purity): RMB 10,000/ton
Domestic glycerin (99.5% purity): RMB 11,000/ton
Domestic glycerin (99.9% purity): RMB 6,600/ton
Domestic standard-compliant glycerin (250 kg drum, 99% purity): RMB 9,500/ton
Domestic glycerin (95% purity): RMB 7,600/ton
- Wuhan City, Hubei Province:
Hubei Qibajiu glycerin (≥99% purity): RMB 3,500/ton
- Nantong City, Jiangsu Province:
Domestic glycerin (≥99% purity): RMB 8,500/ton
- Other Regions:
Qingdao Chengxin Hongfeng Chemical Co., Ltd. (domestic ≥99% glycerin): RMB 9,000/ton
Shandong Qiangsen Chemical Co., Ltd. (Zibo, domestic 99.9% glycerin): RMB 4,200/ton
2. Price Volatility Characteristics
- Industrial-grade glycerin (99.5% purity) in the East China market has surged above RMB 10,500/ton, representing a >25% increase compared to December 2025.
- Food-grade glycerin mainstream quotations have risen above RMB 9,000/ton, with select brands testing the psychological threshold of RMB 10,000/ton.
- Significant regional price differentials exist: Wuhan’s quotation as low as RMB 3,500/ton (likely attributable to crude glycerin or special specifications).
II. Supply-Demand Landscape
1. Supply Side
- Domestic Capacity: Refined glycerin plants are operating under full order backlogs; spot delivery lead times have extended to 1–2 months.
- Import Dependence:
January–February 2026 refined glycerin imports increased by 18.91% year-on-year (YoY); crude glycerin imports rose by 12.19% YoY.
March import volumes and prices both rose: CIF China price for refined glycerin reached USD 1,210/ton (+15% MoM), while crude glycerin reached USD 815/ton (+21% MoM).
- Cost Pressures:
Indonesia raised its crude glycerin export tariff to 10%; combined with higher shipping costs, total import costs rose 18% YoY.
Southeast Asian factory utilization declined during Ramadan, sustaining firm offshore quotations (USD 1,330–1,380/ton).
2. Demand Side
- Key Downstream Industries:
Epichlorohydrin: Prices rose to RMB 13,900/ton; plant operating rates sustained at a high 50%.
Resin Industry: Operating rates below 60%; new order volume declined 15% MoM.
- Other Sectors: Food and pharmaceutical industries procure on an as-needed basis, with minimal inventory accumulation.
- Substitution Pressure: Weakening palm oil and soybean oil prices, alongside ramp-up of synthetic glycerin capacity, are eroding natural glycerin’s market share.
III. Driving Factor Analysis
1. Cost Push
- Rising Southeast Asian crude glycerin costs (tariff + freight) and firmer offshore quotations are exerting upward pressure on domestic pricing.
- RMB exchange rate volatility further amplifies import cost pressures.
2. Supply Contraction
- Low operating rates at domestic and international biodiesel plants have sharply reduced by-product glycerin output.
- Domestic refiners’ inventories remain at historically low levels, tightening spot liquidity.
3. Seasonal Factors
- Traditional price uptrend window driven by Spring Festival pre-holiday stocking and post-holiday supply tightness in Q1.
- Q2 demand remains supportive in early phase but may weaken later as temperatures rise.
4. Market Sentiment
- Heightened geopolitical tensions bolstered broad-based commodity price optimism.
- Traders’ “buy-on-rally, avoid-dips” behavior exacerbates spot market tightness.
IV. Risk Warnings
1. Demand Suppression: Should glycerin prices breach the RMB 10,000/ton threshold, downstream purchasing willingness may further decline.
2. Policy Uncertainty: Continuation of Indonesia’s export tariff is uncertain; its potential removal could trigger a sharp cost collapse.
3. Substitution Effect: Breakthroughs in synthetic glycerin technology may accelerate displacement of natural glycerin.
4. Macroeconomic Shocks: Escalation of geopolitical conflicts may trigger systemic commodity price corrections.
V. Price Outlook
1. Short Term (Within 1 Month): Bullish sentiment dominates; food-grade glycerin may test RMB 9,500–10,000/ton, while industrial-grade glycerin is expected to hold within RMB 10,000–10,600/ton.
2. Medium Term (2–3 Months):
Absent material improvement in downstream demand, prices may retreat to RMB 8,000–8,500/ton.
Close monitoring of epichlorohydrin operating rates and palm oil futures is advised.
3. Long Term (6+ Months):
The equilibrium price level will be determined by the interplay between domestic capacity expansion and import cost dynamics.
Widespread adoption of green production technologies may fundamentally reshape industry cost structures.
Glycerol is a clear, colorless, odorless, viscous liquid with a sweet taste and non-toxic profile; it is non-volatile, hygroscopic, and miscible with water and alcohols, with a melting point of 17.8?°C and boiling point of 290?°C at atmospheric pressure. It is a triol (a polyhydric alcohol) and classified as a natural organic chemical, commonly derived from triglyceride hydrolysis in biodiesel production or vegetable oil processing. Glycerol serves as a key intermediate in the synthesis of epichlorohydrin, nitroglycerin, and glycerol esters, and is widely used in the manufacture of alkyd resins, polyurethanes, and mono- and diglyceride emulsifiers. Its primary application areas include pharmaceuticals (as a humectant and solvent), cosmetics (in moisturizers and personal care formulations), food (as a sweetener and preservative), and industrial polymers and coatings.
Glycerol's properties make it useful for numerous applications. The three hydroxyl groups in glycerol allow extensive hydrogen bonding that gives glycerol its characteristic syrupy viscous texture and hygroscopic character. Approximately 40% of glycerol's use is for personal care products such as cosmetics, soaps, shampoos, lotions, mouthwash, and toothpaste. Glycerol's hygroscopic properties make it a good moisturizer in skin products. Another 25% of glycerol's annual production is used in food production. In the food industry glycerol is used as a moistening agent, as a solvent for food coloring and syrups, to prevent crystallization of sugar in candies and icings, as a preservative, and as a sweetening agent. Approximately 10% of glycerol's use goes into tobacco processing, where it is sprayed on tobacco leaves before they are shredded to serve as a moistening agent. Glycerol has the added benefit of imparting a sweet taste to chewing tobacco. The remaining 25% of glycerol's use is distributed among various industrial uses. It is used in cough syrups and elixir medicines. In industry, glycerol is found in lubricants, plasticizers, adhesives, antifreezes, resins, and insulating foams. At one time it was used almost exclusively in its nitrated form as an explosive (see Nitroglycerin), which today accounts for about 3% of its use.
Pure glycerol appears as colorless, odorless and sweet viscous liquid. Boiling point: 290 ° C, melting point: 17.9 ° C, the relative density: 1.2613. It can be miscible with water infinitely. It can be dissolved in 11 times ethyl acetate, about 500 times ether. It is insoluble in benzene, chloroform, carbon tetrachloride, carbon disulfide, petroleum ether and oil. Anhydrous glycerol has a strong water absorption property.Glycerol is weakly acidic, being able to react with alkaline hydroxide. For example, it reaction with copper hydroxide can produce bright blue cupric glycerinate (can be used to identify polyols). Glycerol can react with nitric acid to generate glyceryl trinitrate, also known as nitroglycerin, being a strong explosive.Because glycerol has water absorption property, it is often used as the moisturizing agent of cosmetics, leather, tobacco, food and textile. Glycerol also has effect on lubricating the intestine, being able to be used for enema or suppository treatment of constipation. Nitroglycerides have the effect of dilating coronary arteries and can be used to treat angina. Nitroglycerin can be used as an explosive and propellant. Glycerol can react with binary acid to generate alkyd resin, widely being used in paints and coatings.In nature, glycerol is widely presented in the form of esters. For example, a variety of animal and vegetable oils are glycerol carboxylate with hydrolyzing grease being capable to generate fatty acids and glycerol. At present, one of the major sources of glycerol is the byproduct of the soap industry (grease is hydrolyzed under alkaline conditions). The other major source is from petroleum pyrolysis gas, propylene.
This chemical is included in Basic Chemicals. See more about what is Glycerol and Glycerol SDS information.
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