The global glycerin market was worth more than USD xx billion in revenue in 2018 and is expected to cross USD xx billion in 2023, growing at a healthy CAGR of over xx% during the forecast period.
Glycerin or glycerol is a polyol, colorless, odorless, viscous liquid. It is majorly produced as co-product in oleochemical fatty acid production, wherein fats are hydrolyzed to produce fatty acids and glycerin as co-product in 10:1 ratio. Glycerin is primarily used in skincare products and food and beverages.
Glycerin has additional applications that include personal care products, tobacco humectants, polyether polyols and alkyd resins, pharmaceutical applications, explosives and miscellaneous uses in plasticizers, lubricants and cellophanes and as antifreeze.
Rising demand for skincare and food & beverage products from cosmetic and food industry are likely to drive the glycerin market. As glycerin is a primary raw material for skincare and food products, demand for these is expected to fuel the growth of this market. Demand for skincare and food products is increasing due to rise in demand from growing population and extra income in developing countries.
Drivers and Restraints of Global Glycerin Market
Growing investments in downstream industries in regions like Asia, Europe and the Americas are likely to offer tremendous possibilities for glycerin market in the future. As a result of accessibility to raw material, multinational businesses are investing in resource-rich regions to be able to limit the overall production cost.
Glycerin is exposed to the probability of price volatility due to its availability as a co-product. Availability of refined glycerin is also a growing concern in the market.
Global Glycerin Market by Region
Asia was the largest consumer of glycerin and this pattern is anticipated to be identical over the following few years. Consumption in Asia is showing upward trend because of increase in economic activity in China and India. China, India, Japan and South Korea were the largest consumers of glycerin in this region. Growing demand from cosmetic, personal care and food & beverages industries will drive glycerin market in Asia. With major production capacities in Asia, the region is likely to grow in terms of global supply capability. Europe is likely to grow at a significant rate due to demand from cosmetic, personal care and food & beverages. Demand from the Americas was significant next to Europe, so is the demand from MEA region.
Top players in this market include Emery Oleochemicals, IOI Oleochemicals, Wilmar International, KLK Berhad, Godrej Industries, Croda International Plc, Cargill Incorporated, P&G Chemical, Kao Corporation, and Avril Group, Oleon, Vance Group Ltd., Polysciences, Inc., DowDuPont, Dutch Glycerin Refinery, SAV LP GmbH, Louis Dreyfus Company Agricultural Industries LLC, Twin Rivers Technologies, Inc., J N Chemical among others.
The report covers exhaustive analysis on:
- Global Market Segments
- Global Market Size
- Global Market Competitive Landscape
- Production Technology
- Global Market Value Chain
Regional analysis includes:
- Middle-East and Africa
- In depth summary of parent market
- Altering market characteristics in the industry
- Detailed market segmentation
- Historical and forecast market size in terms of value
- Current industry developments
- Competitive landscape
- Potential and niche segments, regions showing promising growth