Glycerine Market

Glycerine Market

Growth Factors of Glycerine Market

The glycerine market size was valued at USD 3.79 billion in 2023, and the market is now projected to grow from USD 2.95 billion in 2024 to USD 4.42 billion by 2032, exhibiting a CAGR of 5.2% during the forecast period of 2024-2032.

COVID- 19 pandemic has extremely affected the complete world. In order to inhibit the spread of the virus, governments ‘forced strict lockdowns that controlled the movement of people and trade activities, such as manufacturing units, logistics services. This had a severe effect on the chemical industry, ‘’disturbing the supply and demand of several chemical products, including glycerine. Major producers faced shortages of workforce and raw materials.

Glycerine, a by-product of the biodiesel manufacturing procedure, can be advanced for use in numerous industries. The upsurge in biodiesel making directly associates with an upsurge in product supply and affordability, generating new prospects for market progression. As biodiesel production across the world upsurges, product accessibility is also anticipated to surge. This would deliver a firm stream of the product, instigating’ end users such as chemical producers to develop ‘procedures that use the product as a raw material.

The increasing product demand in the personal care and medicinal industries is projected to enhance the market suggestively. Glycerine is a basic polyol compound widely used for its unique moisturizing properties. It helps as a vital element in several skincare, hair care, and individual hygiene products. Its capacity to preserve moisture and augment skin barrier function, makes it operative in decreasing the signs of aging, contributing to its extensive use in the individual care sector. The worldwide development of the personal care and pharmaceutical industries, motivated by higher disposable incomes and an aging population pursuing anti-aging products, contributes to the augmented product demand. This, benefits and motivate glycerine market growth during the prediction period.

Comprehensive Analysis of Glycerine Market

The market can be segmented in various ways, depending on the focus of analysis such as by grade and by application. Based on grade, the market is segmented into USP grade and technical grade. Based on application, the market is segmented into personal care, food & beverages, pharmaceuticals, polyether polyols, chemical intermediate, tobacco, and others.

Asia Pacific region is dominating the glycerine market share due to strong development rate, motivated by its growing personal care industry. Regions forceful industrial development is also motivating product demand, as it is used in textile, paper, and plastic trade.

The key players are enthusiastically contributing in planned events that are targeted at maintaining durable market position and growing market share by merger, partnerships and others. These players include Wilmar International Ltd (Singapore), Cargill Inc. (U.S.), Emery Oleochemicals (U.S.), IOI Corporation Berhad (Malaysia), Kao Corporation (Japan), Godrej Industries Limited (India), Croda International Plc (U.K.), P&G Chemicals (U.S.), KLK OLEO (Malaysia), CREMER OLEO GmbH & Co. KG (Germany), GLACONCHEMIE GmbH (Germany), Timur Network Sdn Bhd (Malaysia), Sakamoto Yakuhin Kogyo Co. Ltd (Japan), Twin Rivers Technologies, Inc. (U.S.), Avril Group (France) these market players spending severely on research and development in order to arise with more new technology so that they can maintain and improve their existing market.

In February 2022, Sakamoto Yakuhin Kogyo Co. Ltd started functioning a new plant to produce glycerine. The new plant has a making capacity of roughly 20,000 tons per year. This development helps the business to capture a greater market share in the market.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

CAGR (2024-2032) CAGR of 5.2% from 2024-2032

Unit Volume (Kiloton), Value (USD Billion)

Segmentation By Grade

• USP Grade
• Technical Grade

By Application

• Personal Care
• Food & Beverages
• Pharmaceuticals
• Polyether Polyols
• Chemical Intermediate
• Tobacco
• Others

By Region

• North America (By Grade, Application, and Country)
• U.S. (By Grade)
• Canada (By Grade)
• Europe (By Grade, Application, and Country)
• Germany (By Grade)
• U.K. (By Grade)
• France (By Grade)
• Russia (By Grade)
• Rest of Europe (By Grade)
• Asia Pacific (By Grade, Application, and Country)
• China (By Grade)
• India (By Grade)
• Japan (By Grade)
• ASEAN (By Grade)
• Rest of Asia Pacific (By Grade)
• Latin America (By Grade, Application, and Country)
• Brazil (By Grade)
• Mexico (By Grade)
• Rest of Latin America (By Grade)
• Middle East & Africa (By Grade, Application, and Sub-region)
• Middle East (By Grade)
• Africa (By Grade)