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Glycerine Market to Reach $2.53 Billion by 2028; High Usage in Producing Hand Sanitizers amid COVID-19 to Augment Growth

September 20, 2021 | Chemicals & Materials

The global glycerine market size is projected to reach USD 2.53 billion by 2028. The extensive usage of glycerol for the production of hand sanitizers amid the COVID-19 pandemic is set to affect growth positively. Also, the World Health Organization (WHO) recommended using this product to prevent dryness of the skin. Fortune Business Insights™ published this information in a new study titled, “Glycerine Market Size, Share & COVID-19 Impact Analysis, By Grade (USP Grade, and Technical Grade), By Application (Personal Care, Food & Beverages, Pharmaceuticals, Polyether Polyols, Chemical Intermediate, Tobacco, and Others), and Regional Forecast, 2021-2028.” The study further mentions that the market stood at USD 1.68 billion in 2020. But it is set to exhibit a CAGR of 5.3% during the forecast period between 2021 to 2028.


Caramuru Broadens Glycerine Refining Capacity to Fulfill Increasing Needs


In March 2019, Caramuru, a leading group in processing canola, sunflower, corn, and soybean headquartered in Brazil, surged its glycerine refining capacity. It will now possess the latest U.S. Pharmacopeia (USP) certified vegetable refined glycerine. It was made available by the end of 2019.


According to a company official, “Our new refined glycerine will have numerous quality certifications, such as HACCP, GMP+, Kosher, and Halal, among others. We have three biodiesel production units, one in Mato Grosso and two in Goiás. They can process 545m liters per year.”


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/glycerine-market-102168


Ability to Function as Oral Care & Hair Conditioning Agent will Spur Demand


Nowadays, reputed cosmetic manufacturers, namely Unilever, L’Oréal, Johnson & Johnson, and P&G, are rapidly adopting natural ingredients to meet the increasing demand. The rising awareness about the toxic nature of chemicals is compelling people to use glycerine. The product has several beneficial properties. It can easily dissolve in water, is non-toxic, and is eco-friendly. At the same time, it functions as a viscosity reducer, oral care & hair conditioning agent, and fragrance ingredient. These properties are set to drive the glycerine market growth in the near future. However, the changing demand patterns of biodiesel make its production uncertain in many countries. It may obstruct growth.


Key Players Aim to Strengthen Their Distribution Networks to Compete in Market


The global market contains numerous manufacturers that are presently focusing on the expansion of their production capacities. Emery Oleochemicals, for instance, invested hefty amounts in its production sites in Malaysia over the past few years. As the demand is increasing rapidly across the globe, prominent companies are trying to enhance their distribution networks to compete against their rivals.


Fortune Business Insights™ lists out the names of all the renowned glycerine manufacturers operating in the global market. They are as follows:



  • Wilmar International (Singapore)

  • Emery Oleochemicals (Malaysia)

  • IOI Group (Malaysia)

  • KLK OLEO (Malaysia) 

  • Croda International (U.K.)

  • Kao Corporation (Japan) 

  • Cargill Inc. (U.S.)

  • Godrej Industries (India)

  • P&G Chemicals (U.S.)

  • Cremer Oleo GmbH & Co. Kg (Germany)

  • Groupe Avril (France)

  • GLACONCHEMIE (Germany)

  • Granol (Brazil)

  • Timur Oleochemicals (Malaysia)

  • Sakamoto Yakuhin Kogyo Co., Ltd. (Japan)


A Noteworthy Industry Development-



  • April 2020: Croda International, a specialty chemical manufacturing company, supported the sanitizer manufacturers during the COVID-19 by supplying additional glycerin-free of charge to the customer base in Western Europe.


Further Report Findings-



  • In 2020, Asia Pacific generated USD 0.73 billion in terms of revenue and was set to remain at the forefront throughout the forthcoming years. China is likely to be the major contributor to this growth as it houses flourishing chemical, food, and personal care industries. The country held a share of 49.7% of the USP grade segment in 2020.

  • Europe is considered to be one of the prominent producers of glycerol and biodiesel in the world. It would hold the second-largest share. This growth is attributable to the increasing demand for biofuels in various European countries.

  • Based on the application, the personal care segment procured 27.0% in terms of the glycerine market share in 2020. The increasing usage of glycerine in hair care & skincare products, toothpaste, shaving creams, and soaps will accelerate the growth of this segment.


The global market can be segmented in the following way:














































  ATTRIBUTE



  DETAILS



Study Period



2017-2028



Base Year



2020



Forecast Period



2021-2028



Historical Period



2017-2019



Unit



Value (USD Billion) and Volume (Kilo Tons)



Segmentation



Grade, Application, and Geography



By Grade




  • USP Grade

  • Technical Grade



By Application




  • Personal Care

  • Food & Beverages

  • Pharmaceuticals

  • Polyether Polyols

  • Chemical Intermediate

  • Tobacco

  • Others



By Region




  • North America (By Application, By Grade)

    • The U.S. (By Grade)

    • Canada (By Grade)



  • Europe (By Application, By Grade)

    • Germany (By Grade)

    • UK (By Grade)

    • France (By Grade)

    • Italy (By Grade)

    • Rest of Europe (By Grade)



  • Asia Pacific (By Application, By Grade)

    • China (By Grade)

    • Japan (By Grade)

    • India (By Grade)

    • ASEAN (By Grade)

    • Rest of Asia Pacific (By Grade)



  • Latin America (By Application, By Grade)

    • Brazil (By Grade)

    • Mexico (By Grade)

    • Rest of Latin America (By Grade)



  • Middle East & Africa (By Application, By Grade)

    • Middle East (By Grade)

    • Africa (By Grade)




Global Glycerine Market
  • PDF
  • 2020
  • 2017-2019
  • 190

    CHOOSE LICENSE TYPE

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