How is China's glycerin market supply-demand balance shifting in 2023?

How is China's glycerin market supply-demand balance shifting in 2023?
China remains the world's largest glycerin consumer but depends heavily on imported raw materials. In 2022, crude glycerin imports were estimated at 1.24 million tons, while domestic refined and hydrolyzed glycerin output totaled around 600,000 tons. Downstream consumption reached 1.115 million tons, implying an import dependency of roughly 82.5%. Domestic refining capacity held at 1.99 million tons per year with no new additions, and utilization stays low because most refiners are small and rely on imported crude glycerin. The supply chain is tightly linked to Southeast Asian feedstock, especially palm oil-based crude glycerin from Indonesia and Malaysia. Any disruption in biodiesel output or palm oil pricing directly impacts Chinese glycerin availability and cost.