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The global glycerol market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026. 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 clear, thick and odorless polyol belonging to the alcohol family of organic compounds. It is synthesized by the hydrolysis of natural oils and fats present in plants and animals. As it is biodegradable, hygroscopic and miscible with water, it is employed in the food and beverage (F&B) industry as a filler, solvent, stabilizer, humectant, plasticizer, emollient, sweetener and softening agent. It is also used to manufacture elixirs, serums, vaccines, suppositories, expectorants, cough syrups, cardiac medications and drug solvents worldwide.
A substantial rise in the consumption of low-fat food products represents one of the major factors escalating the demand for glycerol as a natural additive to flavor and color candies, cookies, shortening and ice cream. Moreover, the factors such as inflating income levels, changing lifestyles and rising socialization trends are driving the demand of alcoholic beverages which in turn, is further driving the glycerol demand specifically in wine production. Apart from this, as it penetrates cell membranes and possesses various cryoprotective properties, it is widely used as a protective medium for freezing red blood cells, sperm cells, eye corneas and other living tissues. It also finds application as a mucolytic agent in medications for respiratory disorders. In line with this, it is given orally to test the symptoms of Meniere's disease and in intravenous (IV) formulation for reducing intraocular pressure. Furthermore, it is gaining traction in the cosmetics and personal care industries for manufacturing soaps, toothpaste, mouthwash and skin lotions. Glycerol usage is anticipated to expand in fabrics, papers, printing inks and paints due to its low volatility.
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 2021-2026. 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||2020|
|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 around 5% during 2021-2026.
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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