Global Glycerol Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2021-2027- Increasing demand from personal care products and cosmetics, food, pharmaceutical & nutraceuticals industries and rising production of biodiesel are anticipated drive the growth of Global Glycerol Market.
Global Glycerol Market is valued at USD 2541.6 Million in 2020 and expected to reach USD 3367.1 Million by 2027 with the CAGR of 4.1% over the forecast period.
Glycerol which is additionally referred as glycerin is a colorless, odorless, vicious, and oily liquid having syrupy sweet flavor. It is often derived naturally from vegetable oils like soybean, corn, coconut, palm, animal fats like tallow, and synthetically from propylene. In the recent years, biodiesel has been a serious source for development due to the growing awareness towards the utilization of biofuels across the world. The product is usually obtained as a byproduct during biodiesel production. Commercially, it's sold in crude and purified forms. The crude glycerol contains impurities like heavy metals salts and alcohols which is further purified using purification techniques for its further use in end use applications like pharmaceutical, food, and personal care. The purity requirement depends on the aim that the merchandise is getting used. The glycerol is utilized in cosmetics and pharmaceutical applications require 90.0% purity as compared to other applications. In cosmetics, glycerol is the third most used ingredients after water and fragrance in cosmetics formulations. The product primarily functions as a denaturant, humectants, and skin protectant. In addition, it is also used in over-the-counter drugs such as ophthalmic drug products (up to 1%), dermal protectant (up to 45%), and external analgesic.
COVID-19 pandemic has created a demand supply gap for the glycerol market. The COVID-19 pandemic has distorted the market because of long stretches of buyer lockdowns, global restrictions on travels and transportation, and retail business terminations, sales, purchases, and utilization have fallen across numerous magnificence portions. However, the interest for glycerin has expanded for end-user enterprises like personal care and pharmaceuticals during COVID-19, attributable to its expanded utilization in sanitizers, cleansers, handwash, and soaps. During the COVID19 pandemic, the emergence of the COVID-19 pandemic has surged the demand for hand sanitizers exponentially. Glycerin is mostly used in minute proportions to manufacture hand rubs and sanitizers. For instance, according to World Health Organization (WHO), released its ethanol-based hand rub formulation containing 1.45% glycerol to protect healthcare workers’ skin against dermatitis and dryness, the demand for glycerin is projected to increase for a short time.
Global glycerol market is segmented on the basis of source, type, end-user, and region & country level. On the basis of source, the glycerol market is classified as biodiesel, fatty alcohol, fatty acids and soap. On the basis of type, the market is classified as crude and refined. On the basis of end-user, the glycerol market is classified as food & beverage, pharmaceutical, nutraceutical, personal care & cosmetics, industrial and others.
The regions covered in global glycerol market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of market global glycerol is sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Glycerol market reports cover prominent players like Cargill, Incorporated, BASF SE, Kao Corporation, Oleon N.V., KLK OleoWilmar International, Procter & Gamble Chemicals, Solvay SA, Kuala Lumpur Kepong Berhad, Godrej Industries, Dow Chemical Company, ADM and others.
News: BASF Received GMP+ and ISO 22000 Certifications for Its Glycerin Production at the Dusseldorf Site
On June 14th, 2021; BASF received two new affirmations for its crude glycerin creation at the Dusseldorf-Holthausen site: GMP+ and ISO 22000. Both are significant standards for the food and feed industry. Crude glycerin is a by-product produced during fatty alcohol production. It can be utilized after additional refining for various businesses, like food, pharma and personal care. BASF essentially supplies its crude glycerin to purifiers and distributors, who further process and reallocate it. GMP+ characterizes the necessities and conditions for setting up a feed security the board system to protect, for instance, processing, production, storage and treatment of feed. The ISO 22000 standard is an administration system for ensuring food safety.
Increasing Demand from Personal Care Products and Cosmetics, Food, Pharmaceutical & Nutraceuticals Industries and Rising Biodiesel Demand are Some of the Major Factors Driving the Market Growth
One of the major factors driving the growth of global glycerol market is its increasing demand from personal care products and cosmetics. For instance, according to the 2019 information by FDA's Voluntary Cosmetic Registration Program (VCRP), glycerin is the third most as often as possible utilized ingredients in cosmetics after water and aroma. It is accounted for that the thing is utilized in excess of 23,366 products, which consist of lipsticks, detergents, bath soaps, hair colors and dyes, skincare items, child items, suntan arrangements, and items that are applied close to the eye. In addition, its growing demand from food, pharmaceutical & nutraceuticals industries is also supplementing the market growth. For instance; in July 2020, Versalis, a piece of Eni's Chemical Company, began the creation of hand sanitizers containing glycerin as emollient. The item was created depended on WHO's recommendations and was approved by the Italian ministry of health. However, fluctuating prices and fewer profit margins may hamper the global glycerol market growth. In spite of that, surge in the production of bio-fuels can offer more opportunity of the global Glycerol market growth.
Asia Pacific is Expected to Witness a Fastest Growth in the Global Glycerol Market
Asia Pacific is expected to show a fastest growth in the global glycerol market due to the factors such as increasing use of personal care and cosmetics and growing production capacity of biodiesel in this region. For instance; according to India Brand Equity Foundation, the cosmetics, beauty, and grooming market are relied upon to arrive at USD 20 billion by 2025. In February 2019, Münzer Bioindustrie GmbH introduced its 100% waste-based biodiesel office in Navi Mumbai, India. This plant has a yearly production limit of 3,000 metric ton.
Europe is expected to show a significant growth in the global glycerol market due to the increasing demand for personal care, pharmaceuticals, and food and beverages hence a substantial demand for the product is observed from these sectors in the region.
Middle East and Africa
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