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Glycerol Market - Global Industry Analysis 2018
The growing demand for glycerol from the major end use industries such as personal care & pharmaceuticals and foods & beverages is acting as one of the major factors boosting the market. The growing demand for environmental friendly products is also driving the market for glycerol.
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The demand for glycerol from polyether polyols is expected to grow at a CAGR of 6.4% from 2012 to 2018. In terms of revenues, the market is expected to reach USD 205.2 million by 2018. Glycerol is commercially produced by saponification and transesterification processes. Previously glycerol was obtained from epichlorohydrin, but it is no longer economical. Presently, about 65% of glycerol is obtained as a by-product of bio-diesel production. In the saponification process, alkali salt is added to oil or fat, precipitating soap and glycerol as a by-product. In the transesterification process, glyceride is reacted with an alcohol in the presence of catalyst to obtain a new ester and glycerol as by-product. Bio-diesel production is also a transesterification process and crude glycerol is obtained as a by-product. Further purification of crude glycerol is done and pure glycerol is obtained which is commercially used. For every 10kg of biodiesel production 1kg glycerol is obtained.
Glycerol exhibits various important characteristics which makes it applicable in innumerable applications in pharmaceuticals and in cosmetic industries. Owing to its humectant property, glycerol is used in preparation of gels and ointments. Glycerol also finds niche application as plasticizer in order to enhance the spread of coat over beads, granules and tablets. Glycerol is widely used in pre-processed tobacco to prevent tobacco from crumbling. It is used in the healthcare industry for maintaining pressure in the eye-ball and central nervous system. Glycerol is hygroscopic in nature and is extensively used in glues and adhesives to prevent them from drying too fast. Glycerol is also used in the textile industry for softening of fibers, in flexible foams, etc.
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