Pune, India, September 27, 2021 (GLOBE NEWSWIRE) – The world glycerin market is expected to reach $ 2.53 billion by 2028, with a CAGR of 5.3% during the forecast period. The growing demand for biofuels, such as biodiesel, supported by rapid industrialization and urbanization, will contribute to the expansion of this market. This information is provided by Fortune Business Insights ™ in a report titled “Glycerin Market, 2021-2028. The report further states that the market size was $ 1.68 billion in 2020.
COVID-19 pandemic: Growing demand for hand sanitizers to accelerate growth
The emergence of the COVID-19 pandemic has exploded the demand for hand sanitizers exponentially. Glycerin is mainly used in small amounts to make hand sanitizers and disinfectants. The World Health Organization (WHO), for example, has released its ethanol-based hand sanitizer formulation containing 1.45% glycerol to protect healthcare workers’ skin against dermatitis and dryness. . We provide detailed reports to help you better understand the current situation.
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A list of all famous glycerin producers operating in the world market:
- Wilmar International (Singapore)
- Emery Oleochemicals (Malaysia)
- IOI Group (Malaysia)
- KLK OLEO (Malaysia)
- Croda International (United Kingdom)
- Kao Corporation (Japan)
- Cargill Inc. (United States)
- Godrej Industries (India)
- P&G Chemicals (United States)
- Cremer Oleo GmbH & Co. Kg (Germany)
- Avril Group (France)
- GLACONCHEMIE (Germany)
- Granol (Brazil)
- Timur Oleochemicals (Malaysia)
- Sakamoto Yakuhin Kogyo Co., Ltd. (Japan)
How was this report developed?
Our highly trained analysts have conducted extensive primary and secondary research to create this special report containing the impact of COVID-19. Through desk research, they provided relevant qualitative and quantitative data associated with the research objectives. They analyzed data from primary research, thus developing recommendations and conclusions. Secondary research includes Porter’s five forces analysis to better understand the bargaining power of each link in the value chain.
Main drivers and constraints-
Growing adoption of natural and organic ingredients by cosmetic companies to drive growth
The growing consumer inclination towards natural personal care and cosmetic products is expected to propel the growth of the glycerin market in the years to come. This is mainly happening due to the increasing awareness programs among the masses regarding the harmful effects of chemical ingredients. As a result, several reputable cosmetic manufacturers, such as L’Oreal, P&G, Unilever, and Johnson & Johnson, are widely using natural and organic ingredients to meet the high demand. However, as glycerin is obtained during the biodiesel manufacturing process as a by-product, refiners face challenges in terms of profit margins and production due to price fluctuations. It can hinder growth.
Browse the detailed summary of the research report with the table of contents:
The personal care segment will generate the largest share supported by the use of toothpastes and soaps
Based on application, the personal care segment generated 25.4% in terms of glycerin market share in 2020. This growth is attributable to the increasing use of glycerin in the production of shaving cream , toothpaste, soaps, hair care and skin care products. The segment is expected to procure the largest share over the next several years, fueled by the product’s ability to provide packaging and reduced viscosity.
Expansion of the personal care industry to propel growth in Asia-Pacific
Geographically, Asia-Pacific had $ 0.73 billion in revenue in 2020, due to the presence of some of the largest companies in Japan, India, Indonesia and Malaysia. China is expected to dominate the regional market due to the expansion of the chemical, food and personal care industry in the country. The USP quality segment accounted for a 49.7% share in China.
Europe, on the other hand, is a key producer of glycerol and biodiesel in the world. Growing production of biodiesel fueled by growing demand from various European countries would accelerate growth. In addition, strong demand for glycerin from the personal care and chemical industries in the United States will drive growth in North America.
The main players focus on expanding their production capacities to increase competition
The market is home to a large number of leading manufacturers who are mainly focused on expanding their production capacities to meet the high demand. Some of the others are using glycerin in the manufacture of hand sanitizers to meet growing demand amid the COVID-19 pandemic.
Here are the two latest developments in the industry:
- July 2020: Versalis, a wholly-owned subsidiary of Eni, has started producing a new line of liquid hand sanitizers to meet growing demand amid the COVID-19 pandemic. It will be marketed under the name “Invix”. It was developed based on the formulation of the World Health Organization. It contains glycerin as an emollient.
- September 2019: Emery Oleochemicals announced its investment in its Technical Development Center (TDC) in Germany to meet growing demand. Every product is tested here. In addition, the beneficial effect of the additives is improved and adjusted. This new investment will strengthen the company’s position in the market.
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Detailed table of contents:
- Scope of research
- Market segmentation
- Research methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- Emerging trends
- Key ideas
- Main emerging trends – for the main countries
- SWOT Analysis of the Industry
- Regulatory Analysis
- Recent Industry Developments – Policies, Partnerships, New Category Launches, and Mergers and Acquisitions
- Qualitative Analyzes – Impact of COVID-19 on the Global Glycerin Market
- Supply chain challenges
- Measures taken by government / companies to overcome this impact
- Potential opportunities due to the COVID-19 epidemic
- Global Glycerin Market Analysis, Outlook and Forecast, 2017-2028
- Main conclusions / Summary
- Market size estimates and forecasts
- By grade (value / volume)
- By application (value / volume)
- Personal care
- Food and drinks
- Polyether polyols
- Chemical intermediate
- the tobacco
- By region (value / volume)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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