Glycerin Market Size to Boost USD 4.81 Billion By 2032 | CAGR 6.1% - Published by Emergen Research

The global Glycerin Market size was USD 2.68 Billion in 2022 and is expected to register a rapid revenue CAGR of 6.1% during the forecast period. Rising demand for glycerin in manufacturing personal care and pharmaceutical products is a key factor driving market revenue growth.

The glycerin market has witnessed steady growth in recent years, driven by its versatile applications across various industries, including pharmaceuticals, personal care, food and beverages, and chemicals. Glycerin, also known as glycerol, is a colorless, odorless, and viscous liquid derived from natural fats and oils or synthesized from petrochemical feedstocks. It serves as a key ingredient in numerous products due to its humectant, moisturizing, and solvent properties. The global glycerin market encompasses a wide range of applications, including pharmaceutical formulations, skincare products, food additives, and industrial processes.

 The report is attuned with the latest market changes and economic landscape with regard to the currently unfolding COVID-19 pandemic. The crisis has affected the demand and supply pattern, as well as the trends of the industry. It has also brought an economic slowdown that has affected the business of the key manufacturers of the industry. The report estimates the impact of this crisis on the current scenario and future prospects and provides a post-COVID market scenario.

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Drivers of the Glycerin Market :

Several factors contribute to the expansion of the glycerin market. One of the primary drivers is the increasing demand for glycerin in the personal care and cosmetics industry, where it is used in skincare products, moisturizers, soaps, and cosmetics for its emollient and hydrating properties. Moreover, the pharmaceutical industry relies on glycerin for its use as a solvent, lubricant, and sweetening agent in oral and topical medications. Additionally, the food and beverage industry utilizes glycerin as a sweetener, humectant, and viscosity modifier in various products such as confectionery, baked goods, and beverages. Furthermore, the growing demand for biodiesel as a renewable fuel source has led to increased glycerin production as a by-product of biodiesel manufacturing, further driving market growth.

Growth Factors of the Glycerin Market :

The glycerin market is driven by several growth factors. Technological advancements in glycerin production processes, such as transesterification and hydrolysis methods, have improved efficiency and yield, making glycerin production more cost-effective and sustainable. Moreover, increasing consumer awareness of natural and sustainable ingredients in consumer products has boosted demand for glycerin derived from renewable sources such as vegetable oils and biodiesel production. Furthermore, the expanding application scope of glycerin in emerging sectors such as biotechnology, renewable chemicals, and medical devices presents new growth opportunities for market players.

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The report also discusses the key players involved in the market such as:

ADM, Aemetis, Inc., BASF SE, Cargill, Incorporated, Dow, Emery Oleochemicals, Godrej Industries Limited, IOI& Corporation Berhad, Kao Corporation, KLK OLEO, Louis Dreyfus Company, Münzer Bioindustrie GmbH, Musim Mas, Oleon NV, Renewable Biofuels, Croda International Plc, Wilmar International Ltd, Procter & Gamble, Solvay, and Quaker Chemical Corporation

The report provides a thorough estimation of the overall impact of the pandemic on the Glycerin Market and its vital segments. The report also discusses the impact of the pandemic across different regions of the market. It also offers a current and future assessment of the impact of the pandemic on the Glycerin Market

Glycerin Latest Industry Updates

On 5 December 2023, The Archer-Daniels-Midland Company, acquired São Paulo-based manufacturer of refined glycerin to enhance the capacity of around 400,000 metric tons per year.

On 14 July 2023, Louis Dreyfus Company announced the expansion of its refining complex in Lampung, Indonesia, as a part of the Group's strategic plans to expand downstream and diversify revenue through value-added products. The development will see the addition of glycerin refining capacity and edible oil packaging capabilities.

On 27 July 2022, MSC, a Cyprus based ship management company signed a framework agreement with Quadrise Fuels International to trial its emulsion fuel and glycerin based marine biofuel. According to the deal MSC will carry out proof-of-concept tests and operational trials using Quadrise's bioMSAR and MSAR fuels on one or more container vessels, with the final aim of commercializing the supply of these fuels to MSC's global fleet.

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Glycerin Market Segment Analysis :

For the purpose of this report, Emergen Research has segmented the global glycerin market on the basis of Grade, Source Application and Region:

Grade Outlook (Revenue USD Billion; 2019-2032)
Crude Glycerin
Refined Glycerin
Source Outlook (Revenue, USD Billion; 2019-2032)
Biodiesel
Fatty Acids
Fatty Alcohols
Others
Applications Outlook (Revenue, USD Billion; 2019-2032)
Personal Care
Moisturizer
Emollient
Hair care
Food and beverage
Sweetener
Humectant
Solvent
Pharmaceuticals
Tobacco Humectants
Industrial Chemicals
Others
Regional Outlook (Revenue, USD Billion; 2019-2032)
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Benelux
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
UAE
South Africa
Turkey
Rest of Middle East & Africa

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