Glycerin Market Estimated To Grow With A 5.1% CAGR Over 2018–2028. | Archer Daniel Midland, IOI Corporation, Cargill, Incorporated, Dow Chemical Company (DowDupont), Godrej Industries Ltd, Kao Corporation and Kuala Lumpur Kepong Berhad, among others.

Global Glycerin Market – Key Research Findings

The global glycerin market was valued at around US$ 2,998.4 Mn in 2018 and is estimated to grow with a 5.1% CAGR over 2018–2028.
In terms of consumption, East Asia and South Asia are expected to register high value and volume growth in the glycerin market over the forecast period.
Healthy growth of industries such as personal care, food & beverage and pharmaceutical, among others in China is the key driving factor for the growth of the glycerin market.

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Moreover, low production cost, labor cost and lenient regulations in these regions are encouraging manufacturers to expand their manufacturing facilities in these regions, which in turn is expected to drive the demand for glycerin.
Europe and North America markets are estimated to register moderate growth in the glycerin market over the forecast period.
Growing preference towards the -based or natural contented personal care products is the prime factor driving the demand for glycerin.
Around the globe, the increasing use of biodiesel as a fuel and mandatory blending with petroleum diesel in several countries are compelling biodiesel manufacturers to expand their production capacities. As glycerin is a by-product of biodiesel production, there has been significant growth in glycerin production around the globe.
According to the US Department of Energy, global biodiesel consumption was pegged at around 35.7 Mn Tons in 2017, of which around 89% of biodiesel was produced through the trans-esterification process, translating to 2.3% Y-o-Y growth in glycerin production.
Moreover, according to the U.S. Energy Information Administration, the U.S. produced around 5.3 Mn Tons of biodiesel in 2018, registering a 12% increase over 2017.
Pharma and Food Grade Glycerin to Hold Lion’s Share of Market
The increasing demand for refined and purified glycerin in the manufacturing of personal care, pharmaceutical and food & beverage products, coupled with stringent regulations pertaining to the quality of products, is expected to result in an increase in the demand for pharma & food grade glycerin around the globe.
Top Two Factors Driving the Glycerin Market

Growing Demand for Cosmetics and Personal Care Products
Steady economic growth in developing countries, such as China, India, Brazil and ASEAN countries and rising per capita disposable income and expenditure in these regions are the major factors expected to drive the market for consumer products such as cosmetics and personal care, among others. As glycerin is used as a humectant in the production of cosmetics and personal care products, the demand for these products around the world is expected to drive the glycerin market.

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Upsurge in Demand from Food & Beverage Industry
With changing lifestyle and eating habits in developing and developed regions, the demand for fast-foods or convenience foods is increasing. According to a report published by the U.S. Department of Agriculture in 2018, more than 30% of Americans prefer fast food that is readily available over traditional food. Thus, this rise in the demand for fast food products around the globe is expected to drive the demand for additives such as glycerin for use as sweeteners, solvents or preservatives.
Increasing Production in Pharmaceutical Industry
The global healthcare landscape has been changing rapidly and people are spending more on health related needs. With people getting more health conscious and the increasing ageing population, the demand for pharmaceuticals has been increasing around the globe, which in turn has been leading to the high consumption of pharmaceutical ingredients and raw materials. Thus, with this increase in the production of pharmaceutical products, the demand for raw materials such as glycerine is expected to increase over the forecast period.
global glycerin market

Glycerin Market Structure Analysis

The global glycerin market is highly consolidated as a significant share of market is held by Tier-1 players.
Moreover, disparity in raw material prices for glycerin has been observed in developed and developing regions. In developed regions, biodiesel dominates the glycerin market as a source of glycerin whereas in developing regions, fatty acid and alcohol dominates the market as a source of glycerin.
Top companies operating in the glycerin market include Aekyung Petrochemical Co., Ltd., Aemetis, Archer Daniel Midland, Cargill, Incorporated, Emery Oleochemicals, and Kao Corporation among others.
Several key players maintain strategic focus on East and South Asia markets and the report has been incorporated with the strategic developments of key players to help manufacturers make strategic decisions.

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