Glycerol Market size is anticipated to reach USD 4 billion by 2030, according to a new research report by Global Market Insights Inc.
Rapid upsurge in biodiesel production in North America will spur market landscape. USDA FAS estimations reveal that biodiesel production and consumption in Canada stood at 460 million liters and 482 million liters, respectively, in 2021. Governments and policymakers have been emphasizing the utilization of biofuels due to rising ecological concerns and escalating efforts toward minimizing carbon emissions. The increasing environmental awareness, coupled with the introduction of several biotechnological processes, will aid the refining mechanism of crude glycerol, creating lucrative growth prospects for the glycerol industry during the forecast period.
Emerging applications across the end-use industries to fuel the demand for crude glycerol
Glycerol market from crude glycerol segment is expected to reach USD 800 million by 2030. Crude glycerol is extensively used in several applications, including composting, combustion, thermo-chemical conversions, and animal feeds. The recognition of crude glycerol as alternative boiler fuel or for the cogeneration of thermal/electric energy will stimulate the market outlook.
Growing health awareness to aid the growth of fatty acids segment
Fatty acids segment exceeded USD 445 million in 2021 and is poised to exhibit a CAGR of more than 7% during the analysis period. Fatty acids are crucial for performing several bodily mechanisms, including energy storage, building cell membranes, and protecting vital organs. The increasing health concerns and growing emphasis on leveraging the benefits of fatty acids will fuel industry size.
Browse key industry insights spread 260 pages with 305 market data tables & 12 figures & charts from the report, “Glycerol Market Analysis By Product Type (Crude, Refined), By Source (Biodiesel, Fatty Acids, Fatty Alcohols, Soap Industry), By Application (Personal Care & Pharmaceuticals, Alkyd Resins, Foods & Beverages, Polyether Polyols, Tobacco Humectants), By Downstream Application (Propylene glycol, Epichlorohydrin, Acrylic Acid, 1,3-Propanediol, Acrylonitrile), Industry Analysis Report, Regional Outlook, Growth Potential, Covid-19 Impact Analysis, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
Increasing prevalence of skin disorders to drive product demand across the pharmaceutical sector
Glycerol market from pharmaceutical segment is estimated to register 7% CAGR from 2022 to 2030. Glycerol is often utilized as a humectant as well as a lubricant to provide smoothness in a number of pharmaceutical applications. The increasing incidences of skin conditions such as ichthyosis, xerosis, and other allergies have boosted the product demand due to its anti-inflammatory properties.
Expansive industrial applications to facilitate the expansion of the epichlorohydrin segment
Epichlorohydrin segment is projected to grow at a CAGR of over 6% during the assessment period. Epichlorohydrin is extensively used in the manufacturing of plastics, elastomers, epoxy, polyamide resins, and glycerol for application across water treatment, paper, and ion exchange sectors which may propel product sales. In addition, the proliferation of textile and rubber industries will aid the market value.
Rapid proliferation of the cosmetics sector to spur product demand across North America
North America glycerol market is anticipated to reach USD 1 billion by 2030. This is owing to surging sales of products such as face powders, lipsticks, concealers, foundation, lip glosses, etc. Besides, the flourishing pharmaceutical sector and the increasing demand for personal care products will positively influence the regional industry landscape.
Development of quality products to define the competitive outlook
Notable companies participating in the glycerol market include P&G Chemicals, Kao Corporation, Archer Daniel Midland, Wilmar International, Dow Chemical Company, and BASF, among others. These companies have been taking necessary growth measures that are aimed at offering customers a range of certified products, fostering industry expansion.
For instance, P&G Chemicals undertook a Global Food Safety Initiative that provided customers with a certified domestic supply chain for the manufacturing and packaging of glycerin in the U.S. Through the GFSI initiative, the company aims to deliver quality products to consumers.