Global Glycidol Market Size

Global Glycidol Market Size

Global Glycidol Market size was over USD 130 million in 2019 and is estimated to grow over 4.9% CAGR between 2020 and 2026 owing to increasing awareness regarding personal grooming and use of cosmetic formulations. Increasing demand from healthcare and pharmaceutical sector coupled with rising occurrences of infection transmitted diseases to promote market growth.

Growing demand for glycidol as an additive in the plastic manufacturing industry is likely to raise the product demand. Increasing use of plastics from different end-use sectors such as automotive, consumer electronics, residential appliances, packaging, among others is expected to further escalate the product demand.

The rapid growth of the plastic industry is justified by the fact that the global production of plastics had increased to nearly 360 million metric tons in 2018. The increasing applications of the product as a solvent in paint manufacturing may further promote the glycidol market growth.
 

The increasing consumer awareness regarding personal grooming coupled with the rising use of cosmetic products to look more presentable in personal & professional life is likely to provide promising glycidol market opportunities in cosmetic preparations. Furthermore, the increasing prevalence of lifestyle disorders such as diabetes, heart problems, cholesterol and obesity coupled with the growing occurrence of pandemics such as COVID-19 may attract consumer attention towards the importance of personal health and hygiene, raising the demand for products like laundry detergents and disinfectants, which contain glycidol.
 

However, glycidol is listed in the Special Health Hazard List by governing bodies such as OSHA, ACGIH, DOT, NIOSH, NTP and IARC. The carcinogenic and mutagenic nature of glycidol may irritate skin, eyes, nose, throat and lungs and can cause headache, dizziness, lightheadedness and passing out. Also the changing consumer preference towards the use of natural, bio-based cosmetic products may challenge the demand for chemical-based cosmetic preparations containing glycidol.