Glycerol Market Size worth over $5 bn by 2024
Published Date: November 12, 2018 Authors: Kunal Ahuja, Sonal Singh
Glycerol Market size is set to surpass USD 5 billion by 2024; according to a new research report by Global Market Insights, Inc.
Growth in biodiesel production owing to reduce dependence on conventional fuels along with rising importance of lowering emissions to minimize harmful effects on environment will drive glycerol market size. Global biodiesel market was 35 billion gallons in 2016 which has generated approximately 4 billion gallons of crude glycerol. This factor has dropped down product prices leading to increasing demand in certain new applications such as chemical intermediate and animal feed, thus propelling industry growth.
Glycerol is a sugar alcohol which is obtained from natural sources and is nontoxic in nature promoting its usage in personal care and cosmetic formulations. It is highly hygroscopic in nature which helps in keeping skin hydrated. In addition is acts as a cleanser , toner and minimizes acne, pimples and bacterial infections. Increasing demand for natural ingredients along with emergence of personalized beauty trends analyzing skin type, will act as major driving factor towards industry growth.
Glycerol market size from food & beverage application may surpass 950 kilo tons by 2024. Shifting consumer preferences towards sugar free, natural food ingredients and low-calorie food products supported by emerging trends of daily health management routine will favor product demand in food & beverage sector. It acts a naturally occurring sweetener for confectioneries, desserts, and dairy products. Supporting regulatory amendments by FDA which approves GRAS status for glycerin and consider it safe for human consumption will boost market growth.
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Browse key industry insights spread 240 pages with 245 market data tables & 44 figures & charts from the report, “Glycerol Market Size, 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), Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, China, India, Japan, South Korea, Malaysia, Thailand, Australia, Brazil, Argentina, South Africa, UAE, Saudi Arabia), Price Trend, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
Availability of substitute including ceramides and diethylene glycol which can act as potential replacements for glycerin may hamper industry profitability. Vegetable oil is essential feed stock for commercial production through biodiesel and fatty acids. Raw material supply deficit owing to application in other industries such as paints & coatings, manufacturing and chemical may affect glycerol market price trend.
Refined glycerol market size is poised to surpass USD 4.5 billion by 2024. Technological advancements in glycerin purification techniques which is a cost effective, flexible product and also helps in minimizing energy consumption will favor industry growth. Increasing application range in pharmaceutical, food & beverage, personal and home care industries will have positive impact on product demand.
India glycerol market size from pharmaceutical application may register gains close to 6% by 2024. High investments in research along with evolving regulatory norms has led to development of novel products and ingredients, thus driving pharmaceutical industry which may stimulate industry demand. Glycerin is widely used in ear drops, eyewash solutions, cough syrups and lozenges thus propelling industry growth.
France glycerol market size may witness robust growth with gains over 6% by 2024. Easy availability of glycerin to incorporate in cosmetic formulations will favor regional product demand. It retains the skin natural moisturizing factor which makes its suitable for anti- ageing products. Availability of international brands along with increasing product innovation is estimated to accelerate personal care market growth, which may further boost glycerol demand.
Global glycerol market share is competitive and slightly fragmented with key industry participants including Wilmar International, BASF, Solvay SA, P&G Chemicals, ADM, DOW Chemicals, and Godrej Industries. Companies are examining novel applications for crude glycerin supported by development of low-cost purification techniques to produce refined product will propel industry growth.
Glycerol market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in tons and revenue in USD from 2013 to 2024, for the following segments:
Glycerol Market, By Product Type
Glycerol Market, By Source
- Fatty acids
- Fatty alcohols
- Soap Industry
Glycerol Market, By Application
- Personal care
- Alkyd resins
- Food & beverages
- Polyether polyols
- Tobacco Humectants
Glycerol Market, By Downstream Potential
- Propylene glycol
The above information is provided on a regional and country basis for the following:
- North America
- Asia Pacific
- South Korea
- Saudi Arabia
- South Africa