Press release
Global Glycerine Market Size to Grow at a CAGR of 3.2% in the Forecast Period of 2022-2027
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Glycerine Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2021): USD 3.15 billion
• Forecast CAGR (2022-2027): 3.2%
• Forecast Market Size (2027): USD 3.76 billion
One of the key regions in the global glycerine market is predicted to be Asia Pacific. There is a steady demand for glycerine in hair care and skin care products. With the adoption of glycerine in cosmetics, the market is further expected to propel in the future.
Due to increased awareness of health and hygiene in India, the government taking initiatives like Swachh Bharat Mission, the production of soaps and detergents is expected to boost the market growth in India.
Glycerine Industry Definition and Major Segments
Saponified, hydrolysed, and transesterified fats and oils are known as glycerine. These are either produced from propylene, or they are recovered in a raw form and purified through distillation or ion exchange. Carbohydrates can also be fermented or hydrogenated to produce glycerine, although these methods are not currently used on a wide scale in industrial production.
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Based on process, the market is segmented into:
• Transesterification
• Saponification
• Fat splitting
The sources used in the glycerine market encompass:
• Vegetable Oils
• Biodiesel
• Soaps
• Synthetic
Based on the Grade, the market is bifurcated into:
• Technical Grade
• Pharmaceutical Grade
Based on the application, the market is segmented into:
• Food and Beverage
• Pharmaceuticals
• Alkyd Resins
• Tobacco
• Personal Care and Cosmetics
• Automotive
• Polyether Polyols
• Others
The major regional markets include:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Glycerine Market Trends
The global glycerine market is expected to flourish because it is increasingly used in the personal care industry as a thickening agent, emulsifier, lubricant, and humectant. Additional benefits like low toxicity and solubility are also anticipated to support the growth of the market. Glycerine is used in many different industrial applications, including food, alkyd resins, personal care, and pharmaceuticals. During the forecast period, a surge of glycerine in foods and drinks is anticipated to support glycerine market expansion.
Changes in dietary habits and lifestyles in both developed and emerging nations are driving up the demand for fast food and convenience meals. There will likely be a rise in the demand for chemicals like glycerine, which are utilised as sweeteners, solvents, or preservatives, as a result of the rising demand for fast food products internationally.
The ageing population and people's increased health consciousness have led to an increase in the demand for pharmaceuticals worldwide, leading to a high consumption of pharmaceutical ingredients and raw materials. The demand for raw materials like glycerine is expected to expand throughout the forecast period because of the increase in pharmaceutical product production. The rise in demand for glycerine throughout the projection period is also due to rising worries about climate change, stable energy costs, and fluctuating crude oil prices. All of which are anticipated to drive up demand for biodiesel.
Key Market Players
The major players in the global glycerine market report include:
Cargill Incorporated
Kao Corporation
Wilmar International Ltd
IOI Corporation Berhad
Louis Dreyfus Company
Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers, and acquisitions, among other latest developments of the major market players.
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