GLYCEROL DIACETATE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)

Market Introduction

Glycerol diacetate, also known as diacetin, is colorless, clear, and hygroscopic in nature. It is an ester compound used as a diluent or filler material in production of synthetic food colors. Glycerol diacetate is soluble in alcohol and other organic solvents.

Drivers and Restraints

Increasing use of glycerol diacetate in food additives for flavoring and coloring of synthetic agents and growing food industry are major factors driving growth of the global glycerol diacetate market. According to the Department for Environment Food & Rural Affairs (DEFRA), in U.K., the food sector excluding fishing and agriculture was increased by 78% between 2000 and 2016.

Market Outlook

North America is projected to exhibit significant growth in the global glycerol diacetate market over the forecast period. This is attributed to increasing end-use application of glycerol diacetate in paints and coatings. According to the Coherent Market Insights’ analysis, the global paints and coatings market was valued at US$ 137.25 billion in 2016 and is expected to reach US$ 235 billion by 2025.

Asia Pacific is the fastest growing region in the global glycerol diacetate market over the forecast period, owing to increasing use of plasticizers in production of Polyvinyl Chloride (PVC). According to Ministry of Economy, Trade and Industry (METI), a Ministry of the Government of Japan, PVC production in Asia Pacific (excluding Japan) was 53.5% in 2015, globally. Moreover, according to Federation of Indian Chambers of Commerce & Industry (FICCI), PVC demand has grown at 10% p.a. from 1.2 million tons per annum to 2.1 million tons per annum.

Market players

Key players operating in the global glycerol diacetate market include, Eastman Chemical Company, Tennants Fine Chemicals Ltd., Spectrum Laboratory Products Inc., Crescent Chemical Co., Inc., Yixing Tianyuan Chemical Co., Ltd., and Yixing Kaixin Chemical Co., Ltd.

Glycerol Diacetate Market Taxonomy

On the basis of application, the glycerol diacetate market is segmented into:

• Food Emulsifier
• Plasticizers
• Paints & Coatings
• Cement Additives
• Cigarette
• Others (Resin Solvent, and Camphor)

On the basis of end-use industry, the glycerol diacetate market is segmented into:

• Food & Beverages
• Building & Construction
• Pharmaceutical
• Chemical
• Automotive
• Others (Foundry and Steel)

On the basis of region, the glycerol diacetate market is segmented into:

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • Italy
  • France
  • Russia
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • ASEAN
  • Australia
  • South Korea
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• Middle East
  • GCC Countries
  • Israel
  • Rest of Middle East
• Africa
  • Northern Africa
  • Central Africa
  • South Africa

Key Developments:

• In 2018, the China Food Additives & Ingredients Association (CFAA) held two exhibitions to attract thousands of professional visitors and to promote the food additive industry in China. As glycerol diacetate is a major food additive, such exhibitions will promote the growth for the glycerol diacetate market.
• In January 2017, a research study published on biofuel research journal discovered a new acetin (Mono, di and triacetins) synthesis process using ethyl acetate as a reactant in glycerol transesterification process and using sulfuric acid, Para-toluene sulfonic acid, and Amberlyst 36 as a catalyst. The research showed that, by using sulfuric acid catalyst, the researchers noted the selectivity of 97% for monoacetin and diacetin chemical compounds. This new technology can be further adapted in the industrial production of acetins.
• In August 2015, a study published on natureresearch journal by Irmgard Schäffler, Mark Haid, Kim E. Steiner and other researchers identified glycerol diacetate (diacetin) as a floral signal compound used by oil-collecting bees to locate the flowers. Therefore, the study finds the use of diacetin as a floral signal compound in the agriculture and floriculture industry. This will indeed, drive up the demand for glycerol diacetate market.