Glycerol Market Size By Application (Personal Care, Polyether Polyol Applications, Alkyd Resins), By Source (Biodiesel, Fatty Alcohols, Fatty Acids), Industry Analysis Report, Regional Outlook, Price Trend, Downstream Potential, Competitive Market Share & Forecast, 2015 - 2022
Published Date: March 2016 | 114 Pages | Report ID: GMI327 Report Format: PDF
Glycerol Market size is forecast to exceed USD 3 billion by 2022, with gains estimated at 7.9% from 2015 to 2022.
Europe glycerol market size, by application, 2012-2022 (Kilo tons)
Foods, personal care, pharmaceuticals and healthcare applications dominate glycerol demand, which is also referred to as glycerin at content value of over 95%. Saponification and transesterification processes are normal glycerol production routes; with epichlorohydrin route being mostly economically infeasible and not widely used. Over 68% of glycerol production was achieved through bio-diesel in 2015. Indeed, this route is expected to account for over 2,700 kilo tons of glycerol market size by 2022.
Being widely used as a moisturizer in lotions and emollients, strong personal care industry outlook is likely to be a critical factor for glycerol market share development. Oleochemical market size was over 15 million tons in 2015 and with expectations of over 20 million tons by 2022. Downstream oleochemical industry applications are also expected to be key indicators for growth.
Feedstock supply issues could be a key concern area for industry participants. In recent times, oleochemicals on an average have been responsible for close to 15% of overall vegetable oil consumption, only 2% of which is generally used for production. Average market price trend may witness fluctuations as a result of these issues.
Glycerol Market, By Application
Personal care and pharmaceutical uses accounted for over 38% global glycerol market share in 2015. Demographic trends, along with strong awareness regarding healthcare cosmetics and dietary supplements should see continual growth in these applications, especially in somewhat undervalued markets in Asia Pacific, Latin America and Eastern Europe.
Being a primary alkyd resin component; it is an integral part of the synthetic paints market, including protective coatings, enamels and varnishes. Glycerol industry size for alkyd resins is forecast to exceed USD 400 million by 2022.
Glycerol market share for food & beverage applications is likely to grow at over 7% from 2015 to 2022, with consumption volume of over 500 kilo tons by 2022.
Glycerol Industry, By Source
Bio-diesel market size is expected to witness steady gains over the next seven years, which should enable it to account for a significant chunk of glycerol market share, forecast at over 2,700 kilo tons by 2022.
Glycerol production from fatty alcohols is expected to grow at over 6.8% by 2022.
Glycerol Industry, By Region
APAC remains the largest regional industry, with revenue estimates of over USD 1.4 billion by 2022. Owing to the large regional oleochemicals base, it is also the largest producer, and a key global influencer, as indicated by Malaysia, Thailand, China and India glycerol market price trend.
U.S. glycerol market size is dominated by bio-diesel as the predominant source, with consumption forecast to exceed 700 kilo tons by 2022. Personal care and pharmaceutical applications dominated regional demand, accounting for over 38% of total consumption in 2014.
Europe glycerol consumption is forecast to exceed 1,190 kilo tons by 2022, with bio-diesel being the prominent source.
Competitive Market Share
Glycerol industry share is fairly consolidated on a global level, with top four companies supplying over 65% of total demand in 2014. IOI, Oleon, KL Kepong, P&G, Wilmar, and Emery dominate the supply landscape, while the industry may witness further consolidation as players look to add capacity over the next seven years.
Since raw material is a critical issue, the industry is also quite integrated, with companies striving to secure steady, low-cost raw material supply, usually employed with a biorefinery approach. This could result in a steady market price trend over the forecast period.
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