Global Glycerin Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “Glycerin Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global glycerin market size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global glycerin market size reached US$ 2.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.8 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.
Glycerin, a member of the alcohol family, is a transparent, scentless, and sweet-tasting organic compound. It exists in natural form, derived from fats and oils like vegetable oil or animal fats, and can also be synthetically manufactured through chemical processes, offering a more cost-effective alternative. This includes crude glycerin, a byproduct of biodiesel production, which necessitates further refining due to impurities before application in various contexts. Possessing hygroscopic properties, glycerin readily absorbs moisture from its environment. As a clear and viscous liquid, glycerin is soluble in both water and alcohol, boasting a high boiling point and a low freezing point that renders it versatile for numerous applications. Non-toxic, non-corrosive, and stable, glycerin does not readily react with most substances, ensuring its safety in diverse contexts. Renowned for its moisturizing advantages, glycerin enhances skin hydration and serves as a preventative measure against skin issues such as dryness, itching, and flakiness.
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Global Glycerin Market Trends and Drivers:
Currently, the expanding application of glycerin as a sweetener, thickening agent, and preservative in baked goods, beverages, and confectionery products is a pivotal factor propelling market growth. Furthermore, the growing demand for bio-based and sustainable products is driving an increase in the production and consumption of bio-glycerin, sourced from renewable outlets like vegetable oils and animal fats. Additionally, the stringent adherence to quality and safety standards in the pharmaceutical industry is mandating the use of high-quality glycerin.
Moreover, government incentives and policies promoting the adoption of biofuels to curb greenhouse gas emissions and reduce reliance on fossil fuels are providing substantial support to market expansion. The escalating use of glycerin as a solvent, antifreeze, and a constituent in the production of various chemicals and materials is also contributing significantly to market growth. Furthermore, the rising adoption of glycerin in the textile sector for fabric softening, conditioning, and prevention of fiber damage is reinforcing the upward trajectory of the market.
Global Glycerin Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
Archer-Daniels-Midland Company, Avril Group, BASF SE, Cargill Incorporated, Croda International PLC, Emery Oleochemicals (PTT Global Chemical Public Company Limited), Godrej Industries Limited, IOI Corporation Berhad, Kao Corporation, Kuala Lumpur Kepong Berhad, Louis Dreyfus Company B.V., The Procter & Gamble Company and Wilmar International Limited.
The report segmented the market on the basis of region, process, grade, source and application.
Breakup by Process:
- Transesterification
- Saponification
- Fat Splitting
Breakup by Grade:
- USP Grade
- Technical Grade
Breakup by Source:
- Biodiesels
- Fatty Acids
- Others
Breakup by Application:
- Pharmaceuticals
- Food and Beverages
- Personal Care and Cosmetics
- Industrial Chemicals
- Others
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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