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“The glycerin market is projected to register a CAGR of 6.8% during the forecast period in terms of value”
The global glycerin market is projected to reach USD 3.12 billion by 2021, at a CAGR of 6.8% from 2016 to 2021, in terms of value. The global glycerin industry is witnessing growth due to increasing applications, technological advancements, and increasing demand in the Asia-Pacific region, mainly from China, India, and South East Asia. The single most long term growth potential for glycerin in the personal care segment is from the rapid urbanization, increasing disposable incomes, and growing preference for natural ingredients among consumers. However, oversupply and low profitability may hamper the growth of the glycerin market.
“Demand for technical grade is expected to witness the fastest growth over the next five years”
Technical grade glycerin is a refined and purified product, and requires the glycerin to be minimum 98% pure, with no traces of methanol, salts, or any other contaminants. Technical grade glycerin acts as a platform chemical for the production of chemical intermediates. Increased use of chemicals such as 1,3 propanediol, alkyd resins, propylene glycol, and epichlorohydrin in end-use industries such as tobacco, furniture, construction, and paint & coatings is expected to drive the technical grade glycerin market.
“Industrial applications represent the bulk of the demand for glycerin”
High demand for glycerin in toothpaste, facial creams, and other cosmetics is expected to benefit its market in the personal care industry during the forecast period. Glycerin is used for pharmaceutical and medical preparations, mainly as means for improving smoothness, providing lubrication, and humectants. It is used in cough syrups, elixirs, and expectorants. Glycerin is used for excipient uses only in the personal care industry, and serves as an humectant, solvent, and lubricant. It is used as a moisturizing agent in facial creams and other cosmetic products to keep the skin soft and replace skin moisture. It is the basic media for toothpaste which maintains its desired smoothness and viscosity and gives shine to the paste.
“Asia-Pacific glycerin market is expected to witness high growth during the forecast period”
Factors influencing the demand in chemical intermediates manufacturing in the Asia-Pacific region include an increasing demand for glycerin as a platform chemical, especially from China, which is expected to boost demand. Population growth coupled with increasing disposable incomes in the region is also expected to lead to an increase in demand for glycerin in oral care, personal & beauty care, and cosmetic products.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted as follows:
- By Company Type: Tier 1 (48%), Tier 2 (40%), and Tier 3 (12%).
- By Designation: C-level (67%) and Manager Level (33%)
- By Region: Asia-Pacific (50%), North America (25%), Europe (8%) and rest of the world (17%).
The key players considered in the report are:
1. Emery Oleochemicals
2. IOI Oleochemicals
3. Wilmar International
4. KLK Berhad
5. Godrej Industries
6. Croda International Plc
7. Cargill Incorporated
8. P&G Chemicals
9. Kao Corporation
10. Avril Group
This report covers the glycerin market, both, in terms of volume and value, and forecasts the market size till 2021. The report includes the market segmentation based on process, source, grade, application, and region. It also provides company profiles and competitive strategies adopted by the key players in the global glycerin market.
Key benefits of buying the report:
This research report is focused on various levels of analyses?industry trends, market share analysis of key players, supply chain analysis, and company profiles, which together comprise and discuss the overall views on the competitive landscape; emerging and high-growth segments of the glycerin market; high-growth regions; and market drivers, restraints, and opportunities.