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Glycerol is produced from biodiesel and is consider as clean-burning fuel across a wide range of industries. Moreover, glycerol is one of the key ingredients in the manufacturing of resins and gums which are further used to produce paints and coatings. Furthermore, it is also used in personal care products due to its humectants and solvents property.

The global glycerol market is estimated to be valued at US$ 2,716.59 million in 2021 and is expected to exhibit a CAGR of 7.7 % over the forecast period (2021-2028).

Recent Developments:

  1. 1st April 2020, The Growing amount of biodiesel produced worldwide leads to more than two billion tons of glycol entering in the market which is used in the pharmaceuticals, cosmetics & food industries .The valorisation of glycol can be done by electrochemical oxidation. The electrochemical oxidation of glycol can be performed to produce electricity using fuel cell.
  2. 4th March 2021, Austrian refiner AMV will build a pilot plant at its 200,000 bld schwechat refinery to produce advanced biofuels using waste-based glycerol from 2023.The facility will use a catalyst to produce around 1.23 mnl/year of propanol from glycerol which is by-product or waste product from the production of biodiesel , Around 1.2 l of litre of crude glycerol needed to produce a litre of propanol according to AMU.
  3. 25th march 2021,scientist from the Nanyang Technological University(NTU) Singapore have made an antibacterial gel bandage using the discarded husks of the popular tropical fruit Durian , By extracting high quality cellulose from the Durian husks & combining it with glycerol NTU Scientists created a soft gel, similar to silicon sheets which can be cut into bandages of various shapes & sizes.

Asia Pacific held dominant position in the global glycerol market in 2020, accounting for 45.0% share in terms of volume, followed by Europe and North America, respectively.

Figure 1. Global Glycerol Market Value (US$ Mn), by Region, 2020

Glycerol  | Coherent Market Insights

Drivers:

Growing consumers' preferences towards naturally sourced products and increasing demand for biodiesel from the transportation industry is augmenting the market growth of glycerol. Glycerol is one of the clean and renewable fuels, thus growing strict environmental rules &regulations associated with carbon emissions is driving demand for biodiesel. Hence, the growing demand for naturally sourced products among consumers is projected to foster the market growth of glycerol.

Increasing demand for glycerol from personal care is expected to foster market growth. It is used in the production of personal care and cosmetic product such as moisturizers, shampoos, toothpaste, hair conditioners, and body wash. In moisturizing creams, it is used to smoothen the skin by offering moisture to the skin surface. Moreover, it is also used to add to shaving creams and eye drops. The growing demand for glycerol from personal care is projected to propel the market growth of glycerol. 

Market Opportunities

Increasing use of glycerol in the pharmaceutical industry is expected to bring new market opportunities over the forecast period. It is used in the pharmaceutical industry to extract and prevent the inert substance from precipitating upon standing. Moreover, the growing demand for environment-friendly products and favorable government policies is also contributing to the market growth of the glycerol. Thus, the growing demand for glycerol from the pharmaceutical industry is propelling market growth.

The growing use of glycerol as a sweetener in foods for diabetic’s patients is expected to serve major opportunities in the near future. The growing prevalence of lifestyle diseases such as diabetes is again expected to drive glycerol as a sweetener in food products. Moreover, the increasing production of biofuels is also projected to offer profitable opportunities for the market of glycerol. Hence, growing demand for glycerol as a sweetener in low-carb diets and diabetic’s food is projected to foster the market growth. 

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Glycerol Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 2,716.59 Mn
Historical Data for: 2017 to 2019 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 7.7% 2028 Value Projection: US$ 4,619.85 Mn
Geographies covered:
  • Regions: North America, Europe ,Asia ,Rest of world
Segments covered:
  • By source: Bio diesel, Fatty Acid, Fatty Alcohol, Soap industry
  • By Application: Personal care & pharmaceutical, Alkyd Resin, Food & Beverages, Polyether polyols, Tobacco humectant, Others( Including Explosives)
Companies covered:

Proctor & Gamble Chemicals, Dial Corporation, Croda, Dow Chemicals, Godrej Industries Ltd., Emery Oleochemicals, IOI Group, Kuala Lumpur Kepong Berhad, Wilmar International, and Sofiprotéol Group

Growth Drivers:
  • Increasing demand for biodiesel
Restraints & Challenges:
  • Costly refining process

Market Trends

The increasing trend of using glycerol in various processed, dairy products, canned and functional foods is expected to propel the market growth. Glycerol is used as a sweetener, thickener, and humectants in the food formulations. Food grade glycerol is produced from vegetable, animal sources such as palm, coconut, and soybean. Moreover, it is also prepared synthetically from propylene. Thus, the growing demand for processed and dairy products is projected to foster market growth.

Growing strategic partnerships and agreements among key manufacturers is one of the emerging trends in the market. For instance, in January 2018, Archer Daniels Midland partners with Pacific Northwest National Laboratory to produce biobased propylene glycol, an alternative to petroleum-derived PG. The biobased PG is produced from renewable, low-carbon feedstocks, including sugar alcohols from sugar cane, corn, sunflowers, or soy.

Figure 2. Global Glycerol Market Share, By Application, 2020

Glycerol  | Coherent Market Insights

Key Takeaways of the Graph:

  • The Personal care & Pharmaceuticals from the applications held dominant position in the market and accounted for 36.81% share in the global glycerol market in 2020. The segment is expected to reach US$ 1,700.56 million in 2028.
  • Glycerol is used in medical, pharmaceutical and personal care preparations mainly as a means of improving smoothness, providing lubrication, and as a humectant. It is found in allergen immunotherapies, cough syrups, elixirs and expectorants, toothpaste, mouthwashes, skin care products, shaving cream, hair care products, glycerin soaps and water-based personal lubricants. Nitroglycerin is the most commonplace treatment for chronic angina, the chest pain of heart disease

Market Restraints

The increasing price of vegetable oil and fatty alcohol is a major factor hindering the market growth of the glycerol. Also, the high price of raw materials due to growing demand from food and pharmaceutical applications is projected to propel the market growth of glycerol.

The costly refining process is projected to be expected to limiting the demand for glycerol. This factor is expected to hamper the market growth of the glycerol over the forecast period.

Competitive Section:

Company Names 

  1. Proctor & Gamble Chemicals
  2. Dial Corporation
  3. Croda
  4. Dow Chemicals
  5. Godrej Industries Ltd.
  6. Emery Oleochemicals
  7. IOI Group
  8. Kuala Lumpur Kepong Berhad
  9. Wilmar International
  10. Sofiprotéol Group

Glycerol is a sugar by-product derived from sugar cane that is found primarily in raw fruits and vegetables. It is also produced in the small intestine and liver. Glycerol is a simple polyols compound. It's a yellowish, colorless, tasteless, and non-toxic fluid. The glycerol backbone of glycerol is located in lipids called lipids. Because of its many health benefits, glycerol is used extensively in FDA-approved cold and wound removers. Its ability to draw moisture and replace damaged cells is what allows it to be so effective in treating these painful conditions. Because of its ability to change shape and become sticky when needed, glycerol is also used in the treatment of periodontitis and its gum disease-associated complications.

Market Dynamics:

Increasing demand for glycerol from the personal care industry and growing demand for biodiesel from the transportation industry are a major factors driving growth of the glycerol market. Moreover, there is an increasing application of glycerol from the pharmaceutical industry which is again fostering growth of the market. 

On the other hand, a costly refining process is expected to restrict growth of the market. 

Key features of the study:

  • This report provides in-depth analysis of the glycerol market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global glycerol market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Proctor & Gamble Chemicals, Dial Corporation, Croda, Dow Chemicals, Godrej Industries Ltd., Emery Oleochemicals, IOI Group, Kuala Lumpur Kepong Berhad, Wilmar International, and Sofiprotéol Group
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global glycerol market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global glycerol market

Detailed Segmentation:

  • Global Glycerol Market, By Source :
    • Bio-Diesel
    • Fatty acid
    • Fatty Alcohol
    • Soap Industry
  • Global Glycerol Market ,By Application :
    • Personal care & Pharmaceutical
    • Alkyd Resin
    • Food & Beverages
    • Polyether Polyols
    • Tobacco Humectants
    • Other ( Including Explosives)
  • Global Glycerol Market, By Geography:
    • North America
      • By Source:
        • Bio Diesel
        • Fatty Acids
        • Fatty Alcohol
        • Soap Industry
      • By Application  :
        • Personal care & Pharmaceuticals
        • Alkyd Resin
        • Food & Beverages
        • Polyether Polyols
        • Tobacco Humectants
        • Other ( Including Explosives)
    • Europe
      • By Source:
        • Bio Diesel
        • Fatty Acids
        • Fatty Alcohol
        • Soap Industry
      • By Application :
        • Personal care & Pharmaceuticals
        • Alkyd Resin
        • Food & Beverages
        • Polyether Polyols
        • Tobacco Humectants
        • Other ( Including Explosives)
    • Asia Pacific
      • By Source:
        • Bio Diesel
        • Fatty Acids
        • Fatty Alcohol
        • Soap Industry
      • By Application  :
        • Personal care & Pharmaceuticals
        • Alkyd Resin
        • Food & Beverages
        • Polyether Polyols
        • Tobacco Humectants
        • Other ( Including Explosives)
    • Rest Of World
      • By Source:
        • Bio Diesel
        • Fatty Acids
        • Fatty Alcohol
        • Soap Industry
      • By Application  :
        • Personal care & Pharmaceuticals
        • Alkyd Resin
        • Food & Beverages
        • Polyether Polyols
        • Tobacco Humectants
        • Other ( Including Explosives)
  • Company Profiles
    • Proctor & Gamble Chemicals
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • Dial Corporation
    • Croda
    • Dow Chemicals
    • Godrej Industries Ltd.
    • Emery Oleochemicals
    • IOI Group
    • Kuala Lumpur Kepong Berhad
    • Wilmar International
    • Sofiprotéol Group

 “*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The global glycerol market size is estimated to be valued at US$ 2,519.75 Million in 2021 and is expected to exhibit a CAGR of 7.7% between 2021 and 2028.
Increasing demand for biodiesel and rapid growth in personal care industry are the factors fuelling growth of the market.
The Personal care & pharmaceuticals from the applications is the leading component segment in the market.
Costly refining process and increasing price of vegetable oil are expected to hinder growth of the market.
Major players operating in the market include, Proctor & Gamble Chemicals, Dial Corporation, Croda, Dow Chemicals, Godrej Industries Ltd., Emery Oleochemicals, IOI Group, Kuala Lumpur Kepong Berhad, Wilmar International, and Sofiprotéol Group
Asia Pacific region is expected to hold dominant position in the market over the forecast period. The growth of the market in the region is driven by China becomes the feature among the largest market for imported glycerol. In value terms, the largest glycerol importing markets worldwide were China (US$ 232M) for the 2021 the largest importer of the glycerol are India & China.

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