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 growth, size, share, trends, and 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, an organic compound, is a clear, odorless, and sweet-tasting substance belonging to the alcohol family. It can be found in both natural and synthetic forms. Natural glycerin is derived from fats and oils, such as vegetable oils or animal fats, while synthetic glycerin is produced through chemical processes and tends to be more cost-effective. Crude glycerin, a byproduct of biodiesel production, contains impurities and needs further refinement before it can be used in various applications. Glycerin is hygroscopic, meaning it readily absorbs moisture from its environment. This versatile substance is a transparent, viscous liquid that dissolves in both water and alcohol. Notably, it boasts a high boiling point and a low freezing point, making it suitable for a wide range of applications. It is also non-toxic, non-corrosive, and stable, with a limited reactivity to most substances, ensuring its safety in various contexts. Glycerin is renowned for its moisturizing properties, aiding in skin hydration and the prevention of skin conditions such as dryness, itching, and flakiness.
Global Glycerin Market Trends and Drivers:
Currently, the market is experiencing significant growth driven by several key factors. One of these factors is the growing use of glycerin in baked goods, beverages, and confectionery products as a sweetener, thickening agent, and preservative. Additionally, there is an increasing demand for bio-glycerin, sourced from renewable materials like vegetable oils and animal fats, due to the rising interest in bio-based and sustainable products. Furthermore, strict quality and safety standards in the pharmaceutical industry necessitate the use of high-quality glycerin. Government incentives and policies aimed at reducing greenhouse gas emissions and fossil fuel dependence by promoting biofuels are also playing a role in supporting market growth. Moreover, glycerin’s expanding applications as a solvent, antifreeze, and a component in the production of various chemicals and materials are contributing to its increasing demand. Lastly, the textile industry is witnessing a surge in the adoption of glycerin for softening and conditioning fabrics and preventing fiber damage, which is further boosting market growth.
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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