Press release
Glycerol Market to Witness Huge Growth By 2031 | key players Godrej Industries Ltd., Emery Oleochemicals, etc
The global glycerol market was valued at US$ 231.9 Bn in 2020
It is estimated to expand at a CAGR of 6.3% from 2021 to 2031
The global glycerol market is expected to reach the value of US$ 454.1 Bn by the end of 2031
Glycerol Market: Dynamics
Glycerol is used as a solvent for flavors and food colors. It is also used as a humectant, plasticizer, emollient, sweetener, and filler in low-fat food products such as cookies. It is used in the manufacture of dynamite and propellants (nitroglycerol), cosmetics, candy, liqueurs, printing and copying inks, lubricants, pharmaceuticals (suppositories, cough syrups, elixirs, expectorants, and cardiac medications), personal care products (toothpaste, mouthwashes, skin care products, hair care products, and soaps), and antifreeze products. Glycerol is also used to keep fabrics pliable, and cellophane and special quality papers flexible and tough.
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Earlier, glycerol was obtained as a byproduct from the manufacturing of soaps or fatty acids by saponification of fats. Currently, it is mostly obtained as a byproduct of biodiesel. Glycerol has wide industrial applications. Some of the areas of application include food, pharmaceuticals, personal care, storage, and health care industries.
Growth of the global biodiesel industry in recent years has led to overproduction of glycerol globally. Glycerol is majorly obtained as a byproduct of biodiesel production via transesterification process. Presently, about 65% of glycerol is obtained as a byproduct of bio-diesel production. In the saponification process, alkali salt is added to oil or fat, precipitating soap, and glycerol as a byproduct. In the transesterification process, glyceride is reacted with an alcohol in the presence of catalyst to obtain a new ester and glycerol as byproduct. Bio-diesel production is also a transesterification process and crude glycerol is obtained as a byproduct. Further purification of crude glycerol is done, and pure glycerol is obtained, which is commercially used.
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Glycerol Market: Major Players
The global glycerol market is consolidated, with the presence of key players. Prominent players operating in the global glycerol market include Proctor & Gamble Chemicals, Dial Corporation, Croda, Dow Chemicals, Godrej Industries Ltd., Emery Oleochemicals, IOI Group, Kuala Lumpur Berhad, Wilmar International, and Sofiprotéol Group.
Global Glycerol Market: Segmentation
Glycerol Market, by Production Source
Biodiesel
Fatty Acids
Fatty Alcohols
Soap Industry
Glycerol Market, by Application
Personal Care and Pharmaceuticals
Alkyd Resins
Foods and Beverages
Polyether Polyols
Tobacco Humectants
Others (including Explosives, Textile, and Paper)
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Revenue Opportunities for Market Players in Asia Pacific
The Asia Pacific glycerol market is expected to account for largest share of the global market due to rapid urbanization, rising disposable incomes, changing lifestyles, growing consumption of convenience foods, and rising number of working women in the region. Growth and advancement in personal care industry are also responsible for the market growth in the region.
Glycerol Market, by Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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