Global Glycerol Market to Grow at 6.21% During 2024-2032, Stimulated by Increasing Utilization Across Several End-Use Industries

December 05, 2022 | Chemical & Materials

According to the latest report by IMARC Group, titled "Glycerol Market Report by Source (Biodiesel, Fatty Alcohol, Fatty Acids, and Others), Type (Crude, Refined), End Use Industry (Food and Beverages, Pharmaceuticals, Personal Care and Cosmetics, Chemical Intermediates, and Others), and Region 2024-2032," the global glycerol market is expected to grow at a CAGR of 6.21% during 2024-2032. Glycerol, or glycerin, is a thick, colorless, odorless, sweet-tasting, and non-toxic polyol liquid belonging to the alcohol family of organic compounds. It is commercially produced by the saponification or hydrolysis of natural oils and fats found in plants and animals. Glycerol is hygroscopic, biodegradable, and easy to use, and it exhibits exceptional compatibility with several chemicals. As a result, It is extensively used as a solvent, plasticizer, emollient, filler, sweetener, humectant, stabilizer, and softening agent in the food and beverage (F&B) industry. Other than this, it is also frequently utilized in combination with oleochemicals as a thickener, excipient, and sweetener to manufacture serums, cough syrups, vaccinations, heart medicines, suppositories, expectorants, and drug solvents in the chemical and pharmaceutical sectors. 

Global Glycerol Market Trends:

The widespread adoption of glycerol across various industrial verticals, due to its several mechanical and chemical properties, represents a prime factor currently driving the market growth. For instance, in the pharmaceutical sector, glycerol is utilized to improve medicines’ taste, make tablets easier to swallow, and treat respiratory conditions, constipation, stroke, obesity, and ear infections. Additionally, the large-scale application of glycerol as a denaturant, fragrance ingredient, humectant, hair conditioning and oral care agent, and skin protectant in various cosmetics and personal care products, such as lotions, moisturizers, toners, conditioners, toothpaste, mouthwash, and soaps, is impelling the market growth. This is further supported by the rising inclination of manufacturers toward natural ingredients, such as glycerol, owing to their eco-friendliness and water solubility. In line with this, glycerol is used in the food and beverage (F&B) industry to produce wine, energy bars, cake icings, soft candies, marshmallows, and chewing gums, as it aids in preventing sugar crystallization, retaining moisture, and adding softness, smoothness, and texture, which is providing an impetus to the market growth. Furthermore, the escalating requirement for renewable fuels and the ongoing production of biodiesel have caused drop in glycerol prices, which, in turn, is propelling the market growth. Besides this, the fueling utilization of glycerol in fabrics, drug formulations, papers, paints, and printing inks, on account of its low volatility, is supporting the market growth.

Market Summary:

  • On the basis of the source, the market is segregated into biodiesel, fatty alcohol, fatty acids, and others.
  • Based on type, the market has been bifurcated into crude and refined.
  • On the basis of the end use industry, the market has been divided into food and beverages, pharmaceuticals, personal care and cosmetics, chemical intermediates, and others.
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and Middle East and Africa.
  • The competitive landscape of the market has also been examined, with some of the key players being ADM, Aemetis Inc., BASF SE, Cargill Incorporated, CREMER OLEO GmbH & Co. KG, Dow Inc., Emery Oleochemicals, Fine Chemicals & Scientific Co., Godrej Industries Limited, Kao Corporation., KLK OLEO, KPL International Limited and P&G Chemicals.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Source, Type, End Use Industry, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ADM, Aemetis Inc., BASF SE, Cargill Incorporated, CREMER OLEO GmbH & Co. KG, Dow Inc., Emery Oleochemicals, Fine Chemicals & Scientific Co., Godrej Industries Limited, Kao Corporation., KLK OLEO, KPL International Limited and P&G Chemicals
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Global Glycerol Market to Grow at 6.21% During 2024-2032, Stimulated by Increasing Utilization Across Several End-Use Industries
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