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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.”
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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:
A Noteworthy Industry Development-
Further Report Findings-
The global market can be segmented in the following way:
Value (USD Billion) and Volume (Kilo Tons)
Grade, Application, and Geography