Glycerol Market Trends, Company Share, Industry Growth And Future Scope: Grand View Research Inc.

 Glycerol Market Growth & Trends

The global glycerol market size is estimated to reach USD 3.7 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.4% from 2021 to 2027. Improved standard of living coupled with growing consumer demand for high quality and innovative personal care products is expected to drive the market over the forecast period. Glycerol is a thick, clear, and odorless polyol that belongs to the alcohol family of organic compounds. It is produced by the hydrolysis of fats and natural oils present in plants and animals.

The raw materials used in the production of the product are primarily vegetable oils, animal fats, sugar alcohol, and fatty acids, among others. Local manufacturers in the developed economies of Europe and North America mainly source these raw material ingredients due to the lack of availability in their regions. As glycerol is obtained from biodiesel, it is renewable in nature and a clean-burning fuel, which is widely used for industrial purposes.

The market is highly concentrated with the presence of big players like BASF SE, P&G Chemicals, Cargill Incorporated, DOW, and Wilmar International Inc. They are among the top producers of various grades of glycerol and cater to the growing demand from an array of end-use markets such as cosmetics, pharmaceuticals, feed, and food and beverage.

Asia Pacific dominated the market in 2020 and is predicted to witness the highest CAGR over the forecast period. Factors such as changing lifestyle patterns, growing consumption of convenience foods, and the rising number of working women in the region are anticipated to boost the food and beverage market in the predicted years. This, in turn, is anticipated to drive the demand for glycerol in the region.

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Glycerol Market Report Highlights

• In 2020, biodieselemerged as the dominant source segment by contributing a revenue share of 59.6%. Biodiesel is one of the most preferred sources of glycerol due to its low cost. It is a preferred alternative for conventional diesel on account of the scarcity of fossil fuels, increased pollutant emissions, and increasing costs
• Refined glycerol was the largest type segment in 2020 and is projected to witness a CAGR of 6.6% over the forecast period. Refined glycerol offers emulsifying and moisturizing functionalities; these properties make it an effective additive in various personal care and home care formulations
• The personal care and cosmetics segment is the dominant application segment in terms of both revenue and volume, owing to the increase in demand for personal care and pharmaceutical products as a result of improving lifestyle coupled with increased health awareness among the population
• The food and beverage segment is projected to be the second-largest end-use segment over the forecast period. Glycerol acts as a humectant, solvent, sweetener, and also helps preserve foods
• As of 2020, Asia Pacific was the largest region accounting for 36.1% of the revenue share. Europe was the second-largest region and accounted for 29.13% of the revenue share in 2020

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Glycerol Market Segmentation

Grand View Research has segmented the global glycerol market on the basis of source, type, end-use, and region:

Glycerol Source Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Biodiesel
• Fatty Alcohols
• Fatty Acids
• Soap

Glycerol Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Crude
• Refined

Glycerol End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Food & Beverage
• Pharmaceutical
• Nutraceutical
• Personal Care & Cosmetics
• Industrial
• Others

Glycerol Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • Italy
  • France
  • Netherlands
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• South America
  • Brazil
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa

List of Key Players of Glycerol Market

• Cargill Incorporated
• BASF SE
• Procter & Gamble Chemicals
• Oleon NV
• KLK OLEO
• Dow Chemical Company
• ADM
• Wilmar International Ltd
• Pacific Oleochemicals Sdn Bhd
• Kao Corporation
• Emery Oleochemicals
• United Coconut Chemicals, Inc.
• Godrej Industries Limited
• Monarch Chemicals Limited
• Aemetis Inc.
• CREMER OLEO GmbH & Co. KG
• Sakamoto Yakuhin Kogyo Co., Ltd.
• Fine Chemicals & Scientific Co.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.