Global Glycerine Market to Reach US$7.21 Billion by 2030

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NEWARK, New Jersey, March 11, 2022 /PRNewswire/ — According to the report published by The Brainy Insights, the glycerin market should go from $2.60 billion in 2020 for $7.21 billion by 2030, at a CAGR of 6.9% over the forecast period 2021-2030.

Glycerin is the component of triglycerides typically found in vegetable oil, animal fat, and crude oil. Glycerine is an organic alcohol completely miscible with water. It is also miscible in various other substances and compounds. Glycerin is also known as propane-1,2,3-triol, glycerol, trihydroxypropane, 1,2,3-propanotriol, glycer-itol, or glycidyl alcohol. It is a sweet, clear liquid with a sweet taste. It contains three hydrophilic hydroxyl groups, which are responsible for being hygroscopic. Instead of being crystallized, glycerin tends to cool at low temperatures. Aqueous solutions of glycerin are frost resistant and are used as antifreeze in cooling systems. Glycerin does not oxidize at room temperature but can be easily oxidized by other oxidizing agents. Moreover, glycerol has low pressure and low volatility which are related to the hygroscopic property of the compound.

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Sustained economic development in developing and emerging countries such as China, India, Brazil, and Southeast Asian countries, coupled with rising per capita income and expenditure, are expected to drive the growth and development of the market. Glycerin is used as a solvent and lubricant in personal care products such as shampoos, conditioners, etc. Thus, the demand for glycerin is expected to fuel the growth and development of the market. The growing adoption rate of glycerin in the food industry will provide significant growth opportunities for manufacturers. The majority demand for glycerin comes from processed food manufacturing companies, as glycerin is used as a food preservative. Glycerin is also gaining value in dairy products as a sweetener and confectionery industry.

Key players in the global glycerin market are Emery Oleochemicals, IOI Oleochemicals, Wilmar International Ltd., Kuala Lumpur Kepong Berhad, Godrej Industries, The DOW Chemical Company (Olin Corporation), Cremer Oleo GmbH & Co. Kg, PT Smart TBK, Vitusa Products Inc., PT. Bakrie Sumatera Plantations TBK, Croda International PLC, Cargill Incorporated, P&G Chemicals, KAO Corporation, Avril Group, Twin Rivers Technologies Inc., Pacific Oleochemicals Sdn Bhd, PT Sumi Asih Oleochemicals Industry, PT Cisadane Raya Chemicals, Vegetable Vitamin Foods Company (VVF) , Sakamoto Yakuhin Kogyo Co., Ltd. and Timur Oleochemicals, among others. To capture the global glycerin market, the major players are now focusing on adopting strategies such as product innovations, mergers and acquisitions, joint ventures, collaborations, and partnerships.

  • In June 2017Croda International PLC celebrated the new opening of an additional production facility at a manufacturing site in the Netherlands. The glycerinated water will be used to create biogas in the new plant based on a bio-fermentor.
  • In May 2019Aemetis, Inc. announced that its subsidiary Universal Biofuels India has entered into a biodiesel supply contract with the three Indian government-owned oil marketing companies through a public tender.

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The biodiesel segment is expected to register a faster growth of 7.2% over the forecast period

The source segment is divided into biodiesel and soaps. The biodiesel segment is expected to grow at a faster growth of 7.2% over the forecast period. The growth of the segment is attributed to the growing demand for sustainable and renewable energy resources.

The trans-esterification segment dominated the market with a market share of around 53% in 2020

The process segment includes saponification, trans-esterification and fat separation. The trans-esterification segment dominated the market with a share of approximately 53% in 2020. The growth of the segment is attributed to the trans-esterification of triglycerides with alcohols in the production of biodiesel.

The refined segment dominated the market in 2020

The quality segment includes crude and refined. The growth of the refined segment is mainly attributed to the increasing acceptance of refined glycerin in the pharmaceutical, cosmetic, food and beverage, and personal care industries.

The personal care segment dominated the market with a market share of around 38% in 2020

The end-user segment is divided into pharmaceuticals, chemicals, food & beverages, personal care, tobacco and others. The personal care segment dominated the market with a market share of over 35% in 2020. The demand for glycerin in the cosmetics and healthcare industries is expected to increase, thereby increasing the glycerin market size. The food packaging industry will witness the fastest growth during the forecast period.

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Regional Segment Analysis of Glycerin Market

  • North America (WE, Canada, Mexico)
  • Europe (Germany, FranceUK, Italy, SpainRest of Europe)
  • Asia Pacific (China, Japan, IndiaRest of APAC)
  • South America (Brazil and rest of South America)
  • Middle East & Africa (UNITED ARAB EMIRATES, South Africarest of the MEA)

the Asia Pacific The region has become the largest market for the glycerin market with a share of more than 30% in 2020. The regional growth is attributed to the growth and development of this region and fueling the demand for the products of personal care. Additionally, rising demand from food and beverage industries is also expected to drive the growth of glycerin in this region. Europe The region is expected to hold the second largest market share of around 27% in 2020. The regional growth is attributed to the steady growth in biodiesel production in and across the region.

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About the report:

The global glycerine market is analyzed on the basis of value (USD billion), volume (Kilotons), import (Kilotons) and export (Kilotons). All segments have been analyzed on a global, regional and country basis. The study includes analysis of more than 30 countries for each segment. The report offers an in-depth analysis of the drivers, opportunities, restraints and challenges to obtain key market insights. The study includes Porter’s Five Forces Model, Attractiveness Analysis, Commodity Analysis, Supply, Demand Analysis, Competitor Position Grid Analysis, distribution and marketing channel analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aiming to provide businesses with actionable insights through data analytics to improve their business acumen. We have a robust forecasting and estimating model to meet customers’ high-quality production goals in a short period of time. We provide custom (customer specific) and syndicated reports. Our union reporting repository is diverse across all domain categories and subcategories. Our customized solutions are designed to meet customer requirements, whether they are looking to expand or planning to launch a new product in the global market.

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