COVID19 Impact on Glycerine Market Size and Growth Forecast till 2026 | Top Players: Procter & Gamble, Kuala Lumpur Kepong Berhad, Godrej Industries Limited (Chemicals), Dow, IOI Corporation Berhad, etc

The global glycerin market size is likely to foresee promising growth owing increasing demand from skin care and cosmetics.

The market report offers detailed information on the growth parameters such as the drivers, challenges, opportunities, and restraints that the market will go through during the forecast period. Furthermore, it provides qualitative and quantitative details about the regional demographics present in the market. Moreover, the competitive landscape includes in-depth information of the companies proliferating in the market and the strategies such as mergers and acquisitions, product launches, and collaborations adopted by them to gain market presence.

Fortune Business Insights, in its latest upcoming report, titled “Glycerin Market Size, Share & Industry Analysis, By Type (Crude Glycerin, Refined Glycerin), By End-Use Industry (Food, Pharmaceuticals, Personal care & cosmetics, others) Others and Regional Forecast, 2019-2026.”, states that adoption of novel applications of glycerin will propel the growth of the market during the forecast period.

The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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Glycerin is an organic compound that consists of multiple hydroxyl groups. A viscous liquid, it is odorless and colorless. Additionally, it has a sweet taste and is non-toxic in nature. Glycerin or Glycerol is a by-product produced by the process between hydrolysis of fats and oils. Furthermore, the transesterification process in biodiesel also results in the production of glycerin. Moreover, along with beauty benefits it has an anti-viral and anti-microbial property that is beneficial to treat wound and burn injuries. Moreover, it is used extensively as a sweeting agent in food industry.

What does the Report Include?

Drivers and Restraints:

Product Innovation to Boost Demand

There are multiple uses of glycerin owing to its multi-effective benefits across several sectors such as the food industry, beauty products, and pharmaceuticals, among others. Constant innovations in the adoption of glycerin across several products are expected to drive the growth of the market during the forecast period. For instance, in April 2020, Cameron Memorial Community Hospital, Angola that has been working on rolling out its Cameron Retail Pharmacy, introduced a new product, the Hand Sanitizer. The world is reeling under the threat posed by the outbreak of novel coronavirus, COVID-19 and as a precautionary method, people began hoarding up hand sanitizers causing shortage largely across the globe. The staff at the hospital, thereby, rolled out the new product that is U.S. Pharmacopeia approved and includes glycerin to prevent hands drying out owing to its alcohol content.

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Regional Analysis:

Rising Cosmetics Industry in Asia-Pacific to Augur Growth

Among the regions, Asia-Pacific is anticipated to hold the largest share of the market during the forecast period. This is ascribable to factors such as rising cosmetics industry that includes personal care products. Furthermore, countries such as China being the biggest contributor for the rise of cosmetics industry in Asia-Pacific will bode well for the growth of the market during the projected horizon. Moreover, growing population along with the increasing ratio of geriatric population in countries such as China, and India is boosting the demand for pharmaceuticals that will contribute to the growth of the market in the forthcoming years. North America, on the other hand, will witness substantial growth for the market during the forecast period. This is attributable to constant innovations in products involving glycerin and increasing awareness for health benefits of the product between 2019 and 2026.

Competitive Landscape:

Product Expansion by the Companies to Spur Demand

According to the report, the market comprises of several small, medium, and large companies trying to cement their position and outshine the rivals during the forecast period. Adoption of strategies such as product expansion, collaboration, and joint ventures to gain maximum market presence and register promising global glycerin market revenue will contribute to the growth of the market during the projected horizon. For instance, in March 2020, Wall Lake Biodiesel producer, Western Iowa Energy stepped up its hand sanitizer production to help during the global coronavirus pandemic. Furthermore, it sent a shipment of glycerin to help the Iowa Prison Industries manufacture sanitizers to prevent shortages.

List of the Companies Operating in the Market:

• Procter & Gamble Chemicals
• Kuala Lumpur Kepong Berhad
• Godrej Industries Ltd.
• Dow Chemicals
• IOI Oleochemical Berhard
• Croda International Plc.
• United Coconut Chemicals Inc.
• Pacific Oleochemicals Sdn Bhd
• Sakamoto Yakuhin Kogyo Co. Ltd.
• Kao Global Chemicals
• Among others

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