Glycerin Market History, Major Manufacturers Performance and Share Analysis By 2024-2031 | Emery Oleochemicals, IOI Oleochemicals

The Glycerin Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Glycerin or Glycerol is a clear, colorless, and syrupy liquid with a sweet taste commonly used in personal care products, foods, pharmaceuticals, and other industrial applications. It acts as a humectant, solvent, and thickening agent in these applications.

Market Dynamics:

The glycerin market is expected to witness significant growth over the forecast period owing to rising demand from the personal care and pharmaceutical industries. Glycerin is widely used in personal care products such as skin creams, lotions, and hair care products due to its moisturizing and lubricating properties. It also prevents moisture loss from the skin surface. Moreover, increasing health awareness among consumers has led to demand for skincare and hair care products containing natural ingredients like glycerin. Glycerin also finds widespread application in the pharmaceutical industry in manufacture of cough syrups, elixirs, expectorants, and throat lozenges as a solvent, antioxidant, and humectant. Glycerin helps absorb water from the air, keeps medications moist, and enhances flavor. The alcohol-free nature of glycerin lozenges makes them a preferred product for cough relief.

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Top Key Players are Covered in this Report:

★ Emery Oleochemicals
★ IOI Oleochemicals
★ Godrej Industries
★ Wilmar International
★ P&G Chemicals
★ Kao Corporation
★ Cargill Incorporated
★ Avril Group
★ Croda International Plc
★ Sakamoto Yakuhin Kogyo Co. Ltd
★ Twin Rivers Technologies Inc.

Market Segmentation:

By Grade:

★ Crude
★ Refined

By Applications:

★ Beauty & Personal Care
★ Food & Beverage
★ Industrial Chemicals
★ Pharmaceutical
★ Others (Animal Feed, Fuel Additive etc.)

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Major Driver:

1. Growing Consumption of Glycerin in Personal Care and Cosmetics Industries

The glycerin market is being driven by the growing consumption of glycerin in personal care and cosmetics industries. Glycerin is widely used as a humectant in various personal care products such as skin creams, lotions, soaps, and hair care products. It helps retain moisture in skin and hair by attracting water molecules from the surrounding environment into the upper layers of the skin or hair. The increasing spending on personal grooming products globally is fueling the demand for glycerin. Also, the rising awareness about the benefits of glycerin-based personal care products is propelling their consumption. Another driver is the use of glycerin as an emollient that provides a smoothing effect to the skin. Glycerin helps retain moisture and softness, thereby making skin feel supple and smooth. Furthermore, as glycerin is mild, odorless and colorless, it is suitable for use in various cosmetic formulations such as moisturizers, makeup bases, lipsticks and foundations. Its widespread use in cosmetic products aids the glycerin market growth.

2. Wide Range of Applications in Industrial Sector

Another key driver for the glycerin market is its wide range of applications in various industrial sectors such as the automotive, food and beverage, pharmaceutical and chemical industries. In the automotive industry, glycerin is used as anti-freeze in engine coolants and as an additive in brake fluid, power steering fluid and transmission fluid formulations. In the food industry, glycerin acts as a humectant, solvent and sweetener in various food products such as candy, chewing gum, processed meat and beverages. Pharmaceutical manufacturers use glycerin as an excipient and carrier in medicines like cough syrups and expectorants. It is also employed as a plasticizer in the production of pharmaceutical soft gel capsules. Glycerin finds applications in the chemical industry as a monomer for epoxy resins and as an intermediate in polyester resin manufacturing. Its usage in industrial settings fuels glycerin market opportunities.

Major Restrain: Fluctuations in Raw Material Prices

Volatility in the prices of raw materials used to produce glycerin acts as a restraint for the glycerin market's growth. Glycerin is commonly manufactured as a by-product of biodiesel production through transesterification of triglycerides present in vegetable oils and animal fats. Therefore, fluctuations in vegetable oil and crude oil prices directly impact glycerin production costs. Over the past decade, vegetable oil and crude oil prices have witnessed steep rises and falls due to various demand-supply and geopolitical factors. High raw material costs are eventually passed on to glycerin consumers in the form of increased product prices. This hinders the glycerin market penetration to some extent as customers may switch to alternative substitutes during periods of high glycerin rates. Tackling raw material price swings remains a challenge for glycerin manufacturers and suppliers operating on tight margins. If left unaddressed, input cost volatility can negatively influence the entire glycerin market.

Major Opportunity: Development of Bio-Based Glycerin

The growing shift towards sustainable production methods presents itself as a notable business opportunity for glycerin market players. Bio-based glycerin derived from renewable feedstock is garnering significant traction as an eco-friendly substitute for petrochemical-based glycerin. Glycerin can now be produced from biomass sources like agricultural waste residues, algae, citrus peels and fermentation of sugars. The potential availability of inexpensive, non-edible biomass feedstock creates a captivating opportunity for large-scale glycerin biosynthesis. Additionally, governments across regions are rolling out supportive bioeconomy policies and incentives to drive commercialization of bio-based chemicals and materials. For instance, the European Commission aims to meet at least 60% of its glycerin needs through biotechnology routes by 2030. Backed by industrial and policy support, bio-based glycerin production offers the glycerin market a low-carbon path for sustainable growth in the coming years. Manufacturers keen on promoting their environmental credentials can capitalize on this evolving opportunity area.

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The report answers a number of crucial questions, including:

➥ Which companies dominate the global Glycerin market?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the Glycerin market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Glycerin Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

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This release was published on openPR.