Glycerin market accounted to USD XX.XX million in 2017 growing at a CAGR of XX.XX% during the forecast period of 2018 to 2025. Global glycerin market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
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Unstable prices of petroleum products along with depleting resources of oil and increasing concerns over dependence on fossil fuels and increasing levels of CO2 in the atmosphere has increased the environmental concerns and thus, have provoked several government agencies to promote and create awareness and support the production of biofuels from edible crops.
Global glycerin market is dominated Kuala Lumpur Kepong Berhad, followed by Wilmar International Ltd, Archer Daniels Midland Company, among others. Some of the major players operating in this market are:-
- Croda International Plc
- Procter & Gamble
- Kao Corporation
- The Dow Chemical Company
- Godrej Industries Ltd.
- Emery Oleochemicals
- Sakamoto Yakuhin kogyo Co. Ltd.
- Solvay, among others
The major factors driving the growth of this market are bio-renewable chemicals, growth in biodiesel production and wide range of application in various industrial sectors.
- The global refined glycerin market is expected to reach 3,069.53 thousand metric tons by 2024, from 1,546.95 thousand metric tons in 2016, growing at the highest CAGR of 9.1%.
- The global biodiesel market is expected to reach 4,364.55 thousand metric tons by 2024, from 2,323.56 thousand metric tons in 2016, growing at a CAGR of 8.3%.
On the other hand, availability of substitutes and low profitability may hinder the growth of the market.
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Key Drivers: Global Glycerin Market
- The major factors driving the growth of this market are bio-renewable chemicals, growth in biodiesel production and wide range of application in various industrial sectors.
- · Availability of substitutes and low profitability may hinder the growth of the market.
Market Segmentation: Global Glycerin Market
The Global glycerin market is segmented on the basis of
- On the basis of grade, the glycerin market is segmented into ;
- Refined glycerin
- Crude glycerin
- Natural glycerin
- Blonde glycerin
- crude glycerin segment is expected to dominate the global glycerin market.
- On the basis of source the Global glycerin market is segmented into
- Fatty acid
- Fatty alcohol
- Vegetable oils
- Synthetic and others
- Biodiesel is expected to dominate the global glycerin market.
- On the basis of application the glycerin market is segmented into
- Personal care
- Food & beverage
- Healthcare & pharmaceuticals
- Oral care
- Alkyd resins
- Tobacco humectants and others
- Personal care & cosmetic products is expected to dominate the global glycerin market.
- On the basis of downstream the glycerin market is segmented into
- Propylene glycol
- Epichlorohydrin and others
- Propanediol is expected to dominate the global glycerin market.
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