Press release
Glycerol Market Expecting Huge Demand in Upcoming Years 2024 - 2031 | Proctor & Gamble Chemicals, Dial Corporation
Glycerol Market
The global glycerol market is estimated to be valued at US$ 2.91 Billion in 2022 and is expected to exhibit a CAGR of 7.4% over the forecast period (2023-2030).
Market Dynamics:
The glycerol market is expected to witness significant growth over the forecast period owing to rising demand from personal care and pharmaceutical industries. The personal care industry extensively uses glycerol as it is derived from natural sources and provides moisturizing and skin conditioning properties to products. Also, glycerol is employed as an excipient and humectant in various pharmaceutical formulations like cough syrups, antacids etc. Further, the growing biodiesel production driven by policies supporting the use of cleaner fuels will also contribute to glycerol supply, thereby propelling the market growth during the forecast period.
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Growing Demand for Glycerol in Food Industry Drives the Glycerol Market
The food industry has been a major driving force behind the growth of the glycerol market. Glycerol is widely used as a humectant, solvent and sweetener in various food products. It helps preserve foods by retaining moisture and preventing them from drying out. Glycerol finds applications in goods like packaged foods, snacks, desserts, beverages and more. Rising health consciousness among people has fueled the demand for low-calorie, low-fat foods where glycerol serves as a natural sweetener. It is also utilized to maintain the texture and consistency of numerous bakery products. Growing working populations and changing lifestyles have augmented the demand for processed and packaged meals, thereby benefitting glycerol consumption. Furthermore, glycerol acts as a preservative by inhibiting microbial growth in meat and other perishable food items. This driving further adoption in the food industry.
Stringent Environmental Regulations Restricting Glycerol Production
While the glycerol market receives tailwinds from multiple sectors, stringent environmental regulations pose a challenge to producers. Glycerol is majorly obtained as a byproduct of biodiesel production. However, the biodiesel manufacturing process emits greenhouse gases which are harmful to the environment. Rising awareness about carbon emissions and their impact on global warming has led many regions and countries to implement strict norms regarding carbon footprint. Stringent emission control standards compel biodiesel producers to invest in expensive abatement technologies to curb pollution. This increases production costs and reduces glycerol yields. Such regulatory hurdles cast a cloud over the expansion plans of glycerol producers who are dependent on the biodiesel industry. Tighter environmental protection laws could hamper the growth trajectory of the glycerol market in the upcoming years.
Growth Opportunities in Technical and Industrial Applications of Glycerol
While personal care, food and pharmaceuticals remain key end-use avenues, technical and industrial applications provide lucrative expansion opportunities for glycerol producers and suppliers. Glycerol finds application as an anti-freeze agent in automotive coolants owing to its high boiling point and freezing point. This has boosted its adoption in the automotive industry. Rising vehicle production worldwide bodes well for glycerol demand. It also serves as a building block for the synthesis of various intermediates employed in making plastics, resins, polymers and textiles. Glycerol is gaining prominence as a green solvent for industrial purposes due to its low toxicity. Furthermore, it is utilized in the manufacturing of items like glue, printer ink and dynamite. The continually growing industrial sectors will support glycerol consumption for miscellaneous technical applications going ahead. This remains a high potential area for market participants to capitalize on.
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Top Companies Featured in This Report:
โ Proctor & Gamble Chemicals
โ Dial Corporation
โ Croda
โ Dow Chemicals
โ Godrej Industries Ltd.
โ Emery Oleochemicals
โ IOI Group
โ Kuala Lumpur Kepong Berhad
โ Wilmar International
โ Sofiprotรฉol Group
Market Segmentation:
By Product Type:
โ By Source: Bio Diesel, Fatty Acid, Fatty Alcohol, Soap Industry
By Applications:
โ By Application: Personal Care & Pharmaceutical, Alkyd Resin, Food & Beverages, Polyether Polyols, Tobacco humectant, Others (including explosives)
Key Regions/Countries Classified as Follows:
ยป North America (U.S., Canada, Mexico)
ยป Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
ยป Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
ยป South America (Brazil, Argentina, Rest of SA)
ยป Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
The report offers insights on the following aspects:
Chapter 1: Study Coverage
Chapter 2: Executive Summary
Chapter 3: Analysis of Glycerol Market Competition Landscape by Players
Chapter 4: Assessment of Glycerol Market Size by Type and Application
Chapter 5: Global and Regional Analysis
Chapter 6: Company Profiles, recent developments, and investments
Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors
Chapter 8: Evaluation of Value Chain and Sales Channels, including breakthrough product developments
Chapter 9: Research Findings and Conclusion
Chapter 10: Methodology/Research Approach
The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.
In summary, whether you're engaged in manufacturing, distribution, or investment within the Glycerol sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.
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Author Bio:
Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.
(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)
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