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The global glycerol market is expected to exhibit a CAGR of 7.2% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Glycerol (C3H8O3) is a transparent, thick, and odorless organic compound hygroscopic and miscible with water. It is formulated by the hydrolysis of natural oils and fats in plants and animals. It is used as a solvent, humectant, plasticizer, emollient, sweetener, and filler in low-fat food products, such as cookies. It is also utilized inthe manufacturing of serums, vaccines, suppositories, expectorants, cough syrups, cardiac medications, drug solvents, and elixirs worldwide. It helps hydrate the outer layer of the skin, enhance skin barrier function and mechanical properties, thereby providing protection against skin irritants and accelerating wound-healing processes. As a result, glycerol finds application in the formulation of numerous skin care products across the globe.
Global Glycerol Market Trends:
A substantial rise in the consumption of low-fat food products represents one of the key factors positively influencing the market. In addition, inflating disposable income levels, changing lifestyles, and the growing socialization trends are catalyzing the demand for alcoholic beverages, which, in turn, is contributing to the market growth. It can also be attributed to the increasing utilization of glycerol in wine production. Apart from this, glycerol is extensively used as a protective medium for freezing red blood cells, sperm cells, eye corneas, and other living tissues as it penetrates cell membranes and exhibits various cryoprotective properties. Besides this, the growing global population and the rising occurrence of respiratory disorders are creating a positive outlook for the market. Along with this, glycerol finds application as a mucolytic agent in medications for respiratory conditions. Furthermore, the widespread adoption of the product to test the symptoms of Meniere's disease and in intravenous (IV) formulation for reducing intraocular pressure is offering lucrative growth opportunities to manufacturers. Moreover, the increasing usage of glycerol in fabrics, papers, printing inks, and paints due to its low volatility is propelling the market growth.
IMARC Group provides an analysis of the key trends in each sub-segment of the global glycerol market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on source, type and end use industry.
Breakup by Source:
Breakup by Type:
Breakup by End Use Industry:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles 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.
|Base Year of the Analysis||2021|
|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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We expect the global glycerol market to grow at a CAGR of 7.2% during 2022-2027.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of numerous end-use industries of glycerol.
The increasing utilization of glycerol as flavoring agent in color candies, cookies, shortening, ice cream, etc., is one of the factors catalyzing the global glycerol market.
Based on the source, the global glycerol market can be divided into biodiesel, fatty alcohol, fatty acids, and others. Among these, biodiesel currently represents the largest segment.
Based on the type, the global glycerol market has been bifurcated into crude and refined. Currently, refined glycerol holds the majority of the total market share.
Based on the end-use industry, the global glycerol market can be segmented into food and beverages, pharmaceuticals, personal care and cosmetics, chemical intermediates, and others. Among these, the personal care and cosmetics sector exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global glycerol market include 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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