The glycerol market was valued around USD 1.89 billion in 2014 and is expected to reach roughly USD 3.07 billion by the end of 2022 while registering itself at a compound annual growth rate (CAGR) of 5.44% during the forecast period. Glycerol is a sweet, thick, colorless sugar polyol compound showing hygroscopic and solvent properties. It is also known as glycerin and it is an essential constituent of all the triglycerides. Glycerol can be natural or synthetic relying upon the raw materials utilized for its manufacturing. Some of the glycerol manufacturing procedures include hydrolysis, transesterification, and saponification. Glycerol contains high nutrition values and excellent non-toxicity that makes it widely useful in various consumer products. It is utilized in various applications such as to antifreeze chemicals and explosives, food sweeteners and preservatives, widely relying on its chemical features. Prevailing applications of biofuels and rising requirement of oleochemicals are anticipated to boost the growth of this market. It is potential as a stage synthetic for inexhaustible chemicals generation hold scope as interchange alternatives are investigated for efficient plausibility. However, unstable supply of feedstock may hamper the growth of this market. Low edges for refining procedures may additionally prevent the market development.
Previously, glycerol was exclusively retrieved by synthetic procedures. However, biodiesel has become a prime source of glycerol in the recent years. This can be credited to the development of transesterification process i.e., the way toward utilizing biodiesel/greasy liquor for the production of glycerol. Moreover, synthetic procedures are known to be economically impractical when taken into consideration for manufacturing on a large scale. Being a side-effect of biodiesel, glycerol supply has ascended with expanded exploration of biodiesel alternatives.
Application Outlook and Trend analysis
The dominant application segment for the global glycerol market is personal care. Due to its healing properties and nutritive value, glycerol is widely utilized in several skin care products. Additionally, its aperient and sweet tasting characteristics make it useful in a number of health products. The developing paints and coatings industry additionally demands glycerol contribution to the type of alkyd saps as feedstock. The application segment of polyether polyols has also been developing with the growing usage of sweeteners that are low in calorie for products like chewing gums. Other applications in which glycerol is utilized include explosive production, food preserving, tobacco humectants, perfume production and pharmaceuticals.
Downstream Opportunity Outlook and Trend Analysis
Glycerol holds potential as a synthetic stage for the inexhaustible generation of chemicals. It acts as an eco-friendly and economical substitute. Propylene Glycol, Epichlorohydrin, and 1-3 propanediol are couple of chemicals that have experienced procedures of being fabricated from glycerols.
Regional Outlook and Trend Analysis
The major consumer in the global glycerol market has been Europe in various segments such as food & beverages, personal care and pharmaceuticals. Utilization of glycerol as a raw material has increased for the manufacturing of propylene glycol and epichlorohydrin. Owing to rising manufacturing of epichlorohydrin from glycerol the consumption rate of China are anticipated to rise. With its advanced paints and coatings market, Middle East areas' requirement for glycerol is needed to be significant for alkyd saps and unified items. With rising implementation of cosmetic and pharmaceutical products that contain glycerol the global market is expected to witness significant growth.
Competitive Insights
The global glycerol market contains several major companies such as United Coconut Chemicals, Incorporated, Wilmar International, Procter and Gamble Chemicals, Dow Chemical Company, Kao Corporation, Solvay S.A, Twin Rivers Technologies, Pacific Oleochemicals Sdn Bhd, Godrej Group, Henkel North American Consumer Goods, Emery Oleochemicals, Sakamoto Yakuhin Kogyo Company Ltd, Archer Daniels Midland, Vitusa Products Inc and Croda International.
The global glycerol market is segmented as follows-
By Source
Fatty alcohols Biodiesel Fatty acids Soap industry
By Application
Polyether polyols Personal care & pharmaceuticals Tobacco humectants Foods & beverages Alkyd Resins Others
By Region:
North America U.S Canada Mexico
Europe Germany France UK Italy Spain Rest of Europe
Asia-Pacific Japan China Australia India South Korea Rest of Asia Pacific
Rest of the World Brazil South Africa Saudi Arabia United Arab Emirates Others
Some of the key questions answered by the report are:
What was the market size in 2012 and forecast from 2013 to 2022? What will be the industry market growth from 2013 to 2022? What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast? What are the major segments leading the market growth and why? Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
