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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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