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