The Glycerin market is projected to grow at a rate of 4.30% in terms of value, from 2020 to reach USD 4,603.0 Million by 2028. Glycerin or Glycerine is a simple polyol organic compound having multiple hydroxyl groups with a clear, odorless, and viscous liquid formation. The data & information provided by the report have been obtained through meticulous research on the market. Glycerin or Glycerine is a simple polyol organic compound having multiple hydroxyl groups with a clear, odorless, viscous liquid formation. This viscous liquid naturally comes with a sweet taste. It is derived from both natural and synthetic sources. Glycerin is widely obtained through the transesterification process where animal fats or vegetable oils are mixed with alcohol in the presence of a catalyst. The global glycerin market is growing at a substantial pace due to the growing demand for glycerin in consumer goods applications such as personal care, cosmetics, tobacco humectants and personal lubricants, to name a few. The refined glycerin is extensively in demand as the traditional market such as consumer goods and food & beverages are solely dependent upon refined glycerin.
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The Asia Pacific market is forecasted to generate the highest revenue of USD 1.63 Billion in the year 2027, owing to its extensive demand in consumer goods, such as personal care, cosmetics, and others. China and the United States are likely to retain their superiority with the highest rate of consumption of refined glycerin. China and India are some of the fastest-growing markets globally, while Germany and the United States hold some of the most prominent players in the market.
Key participants include Wilmar International Ltd., Godrej Industries, Croda International PLC, P&G Chemicals, Emery Oleochemicals, Cargill Incorporated, IOI Oleo GmbH, Dow Chemical Company, Kuala Lumpur Kepong Berhad, and KAO Corporation.
Further key findings from the report suggest
- Nitroglycerin, an essential ingredient used in the processing of various explosives such as dynamite, gelignite, and the smokeless propellants namely cordite, requires glycerin as the chemical intermediate.
- The food-grade edible glycerin is used in the low-fat frozen yogurts, icy desserts, and ice creams, among others. The glycerin are used to prevent the formation of the ice crystals in the frozen foods. The food & beverages segment is expected to grow at a CAGR of 4.8% in the period 2019 to 2027.
- Refined glycerin is substantially being in demand as the consumption of glycerin-based consumer goods are significantly rising and most of those products are made from refined glycerin. The refined glycerin sub-segment was valued USD 1.85 Billion in 2018. China is the largest consumer of the global refined glycerin.
- Glycerine which comes as a product of chemical reactions beginning with synthetic source, and petroleum, fall under this sub-segment. However, the market for this sub-segment synthetic glycerine is expected to gradually diminish in the forthcoming period, since the natural source of glycerin is readily available as a byproduct of several industrial usage.
- European region is forecasted to witness a significant growth in the overall market, with 25.6% of market possession by 2027, having grown with a CAGR of 3.1% during the forecast period. Germany holds some of the most prominent players in this region.
- North America, is accounted to retain a significant position in the global market with a market share of about 25.8% by 2027, with a CAGR of 4.9% during the forecast period. The United States itself packed in more than 16% of the entire market valuation in 2018.
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For the purpose of this report, Reports and Data have segmented the global glycerin market on the basis of type of glycerin, processing, source, end-use verticals, and region:
Processing Outlook (Revenue, USD Billion; Unit, Million Tons 2016-2027)
- Fat Splitting
Type of Glycerin Outlook (Revenue, USD Billion; Unit, Million Tons 2016-2027)
Source Outlook (Revenue, USD Billion; Unit, Million Tons 2016-2027)
- Vegetable Oil
- Animal Fat
End-Use Verticals Outlook (Revenue, USD Billion; Unit, Million Tons 2016-2027)
- Medical & Pharmaceuticals
- Chemical Intermediate
- Food & Beverages
- Consumer Goods
- Industrial Usage
Regional Outlook (Revenue, USD Billion; Unit, Million Tons 2016-2027)
- North America
- Asia Pacific
- Latin America
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Full Coverage of the Global Glycerin Market Report:
- The report offers in-depth study of the global Glycerin market dynamics and offers crucial information on the leading product portfolios, application areas, distribution channels, and technological breakthroughs.
- The report offers qualitative and quantitative studies of the global Glycerin industry.
- The report is inclusive of a detailed overview of the key regional markets of the global Glycerin industry.
- The report profiles the leading companies in the industry and highlights their financial positions, product offerings, recent developments, and business expansion plans and initiatives.
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