Glycerol Market

Glycerol Market Size:

The global glycerol market size is expected to exhibit a growth rate (CAGR) of 6.21% during 2024-2032. Several factors, including increasing use in pharmaceuticals, personal care products, food and beverages (F&B), along with technological advancements in its production processes and the rising demand for sustainable and environmentally friendly products are propelling the glycerol demand.

Glycerol Market Analysis:

• Major Market Drivers: The increasing product utilization across various industries, including pharmaceuticals, personal care, and F&B, where it serves as a moisturizer, preservative, and sweetener, is positively impacting the glycerol market outlook. Additionally, technological improvements in glycerol production and processing have increased its accessibility and cost-effectiveness, boosting the glycerol market value.
• Key Market Trends: The integration of glycerol in clean and natural beauty products is a significant trend strengthening the market growth, driven by consumer preference for safe and non-irritating ingredients.  Moreover, innovation in pharmaceutical applications, where glycerol is used for its solvent and preservative properties, is contributing to the glycerol market growth. 
• Geographical Trends: The glycerol market forecast emphasizes the Asia Pacific region as a leading market in the region due to rapid industrialization and the expansion of key end-use sectors such as pharmaceuticals and personal care. In addition to this, North America and Europe continue to see strong demand for glycerol, supported by advanced healthcare systems and the rising adoption of biodiesel.
• Competitive Landscape: Some of the major market players in the glycerol industry 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, among many others.
• Challenges and Opportunities: Market challenges include price volatility of raw materials and the dependency on the biodiesel industry for glycerol supply, which can fluctuate based on biofuel market dynamics and regulatory changes. Whereas, the expanding applications of glycerol through research and development (R&D), especially by investigating new industrial uses and sustainability initiatives are presenting lucrative market opportunities.
   

Glycerol Market Trends:

Biodiesel Production Surge

One of the most significant trends boosting the glycerol market is the increased production of biodiesel. Glycerol is a byproduct of biodiesel manufacturing, derived during the transesterification of vegetable oils or animal fats. Approximately 1 pound of glycerol is produced when nearly 100 pounds of oil or fat react with 10 pounds of short-chain alcohol, typically methanol producing 100 pounds of biodiesel alongside the 10 pounds of glycerin. With the surging demand for biodiesel due to environmental concerns and shifts in global policies towards more sustainable energy sources, there is an expanding supply of glycerol. Moreover, governments are enforcing strict laws prohibiting the use of fossil fuels and promoting biofuel substitutes, which is further influencing the glycerol market growth.

Expansion in Personal Care Products

Glycerol's role in personal care products due to its excellent moisturizing properties is aiding in market expansion. It is a humectant, which means it attracts water and helps retain moisture in the skin and hair, making it a popular ingredient in creams, lotions, soaps, and hair care products. The global beauty and personal care market is growing, fueled by increasing consumer awareness of the benefits of natural and organic ingredients and a rising standard of living in developing countries. Along with this, hair damage is a major concern influencing purchasing decisions, as quoted by 27% of hair care buyers. This has further heightened the adoption of glycerol in hair care products as it forms thin, flexible films on the skin or hair surface when applied topically, providing a smooth and velvety feel.

Innovative Pharmaceutical Applications

In the pharmaceutical sector, glycerol is gaining interest due to its versatility and safety profile. It is used as a solvent, sweetener, and humectant in various oral, topical, and injectable medications. Its role in pharmaceutical formulations includes improving the texture and palatability of products, acting as a preservative, and facilitating drug delivery mechanisms. According to reports from OECD, in 2019, per capita retail pharmaceutical spending in OECD countries averaged USD 571, among this prescription medicines accounted for 79% of pharmaceutical expenditure, with the remaining 21% directed to over-the-counter (OTC) products. Thus, the increasing sales of medicines are boosting the glycerol market revenue.

Glycerol Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on source, type, and end use industry.

Breakup by Source:

• Biodiesel
• Fatty Alcohol
• Fatty Acids
• Others
   

Biodiesel accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the source. This includes biodiesel, fatty alcohol, fatty acids, and others. According to the report, biodiesel represented the largest segment.

The global shift towards sustainable and renewable resources in numerous industries is boosting biodiesel production, which in turn, is resulting in an abundant and cost-effective supply of glycerol as a byproduct. Industries such as polyether polyols production, employed extensively in polyurethane foams, are increasingly utilizing biodiesel-derived glycerol due to its lower environmental impact than petrochemical-based glycols. This shift is supported by stricter environmental regulations and a growing consumer preference for sustainable products, which encourage industries to adopt bio-based glycerol. Additionally, the R&D in green chemistry is continuously improving the efficiency and applications of biodiesel-derived glycerol, further enhancing the glycerol market overview.

Breakup by Type:

• Crude
• Refined
   

Refined holds the largest share of the industry.

A detailed breakup and analysis of the market based on the type have also been provided in the report. This includes crude and refined. According to the report, refined accounts for the largest market share.

Based on the glycerol market research report, refined glycerol, known for its high purity level emerged as the most popular type particularly due to its crucial role in sectors where product quality and consistency are paramount. Moreover, the widespread product utilization in the pharmaceutical industry as a solvent, humectant, and carrier for drug delivery systems due to its non-toxic nature and compatibility with various drug formulations is impelling the market growth. Similarly, in the food and beverage sector, its role as a sweetener, preservative, and moisture-retainer to meet stringent food safety standards is aiding in market expansion.

Breakup by End Use Industry:

• Food and Beverages
• Pharmaceuticals
• Personal Care and Cosmetics
• Chemical Intermediates
• Others
   

Personal Care and Cosmetics represents the leading market segment. 

The report has provided a detailed breakup and analysis of the market based on the end use industry. This includes food and beverages, pharmaceuticals, personal care and cosmetics, chemical intermediates, and others. According to the report personal care and cosmetics represented the largest segment.

Glycerol market analysis reveals the expanding product demand from the personal care and cosmetics sector is propelled by its exceptional skincare benefits and the growing consumer preference for products containing natural ingredients. Glycerol is highly regarded for its moisturizing properties, making it a staple in formulations designed to hydrate and protect the skin. Its ability to draw moisture from the air into the skin's surface is particularly valued in products aimed at combating dryness and improving skin texture. Additionally, as consumers become more aware of the ingredients in their skincare products, the demand for glycerol increases due to its reputation as a safe, non-irritating compound that enhances product texture and performance. Besides this, the clean beauty movement, which emphasizes formulations free from harsh chemicals, is driving glycerol's popularity.

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
   

Asia Pacific leads the market, accounting for the largest glycerol market share

The report has also provided a comprehensive analysis of all the major regional markets, which include 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 the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for glycerol.

The demand for glycerol in the Asia Pacific region is spurred by its robust industrial growth, particularly in countries like China and India, where there is a significant expansion in end-use industries such as pharmaceuticals, personal care, and food processing. This region has seen a surge in both production and consumption capacities due to the availability of raw materials and a growing middle-class population with increasing disposable incomes. The shift towards healthier lifestyles and a rising awareness of sustainable and natural products have further fueled the demand for glycerol-based products in the personal care and food industries. Furthermore, the Asia Pacific region's strategic push towards biobased chemicals to reduce reliance on petrochemicals aligns well with glycerol's applications, making it a preferred choice in various green manufacturing processes.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the glycerol industry 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, P&G Chemicals, etc.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• The competitive landscape of the global glycerol market is highly dynamic, featuring a mix of large multinational corporations and specialized chemical companies. Major players like ADM, BASF SE, and Cargill Incorporated dominate due to their extensive production capacities, global distribution networks, and integrated supply chains that ensure consistent product availability and innovation. Companies such as Aemetis Inc. and Emery Oleochemicals emphasize sustainable and renewable sources in their production processes, catering to the growing demand for eco-friendly products. On the other hand, specialty firms like CREMER OLEO GmbH & Co. KG and KLK OLEO focus on niche markets and higher-value derivatives of glycerol, enhancing their market presence through targeted offerings.

Glycerol Market News:

• In May 2023, BASF collaborated with ORLEN Południe and Air Liquide Engineering & Construction to implement an innovative process converting glycerol into renewable propylene glycol (BioPG). Utilizing BASF's technology and proprietary catalyst, the project aligns with ORLEN Południe's goal of achieving carbon neutrality by 2050, supporting sustainable production practices and environmental stewardship.
• In December 2022, Argent Energy revealed its plan to construct a new glycerine refinery. The 50,000 tons production capacity refinery is planned to be established in the port of Amsterdam.

Glycerol Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the glycerol market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global glycerol market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the glycerol industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.