Glycerol Industry Overview
The global glycerol market size was valued at USD 2.4 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.4% in terms of revenue from 2021 to 2027.
This is attributed to its increasing demand from food, pharmaceutical, and nutraceutical industries. The product is widely being used in several food products including processed meat, condensed milk, and bakery products.
There is a rise in the consumer preference for glycerol as it is non-toxic and has excellent nutritive values attached to it. It can be derived naturally as well as from petrochemical feedstock. The demand for the product is likely to augment globally in the coming years as it is easy to store, and does not harm the environment. Moreover, it is widely used for improving hydration levels and performance levels in athletes, skin conditions, and helps relieve constipation as well. These factors are likely to positively affect the growth of the market for glycerol over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Global Glycerol market
Glycerol is available in two forms in the market – crude form and refined form. The crude form is obtained from the production of biodiesel, which is in its raw form and then sold to large refineries for further processing. It acts as an outstanding source of calories for non-ruminants such as swine, hens, and broilers. The refined form of the product is hygroscope in nature and is used in different applications such as pharmaceuticals, polyether polyols, food and beverages, and alkyd resins.
Glycerol is formed via hydrolysis reaction, saponification, and transesterification during biodiesel production. The substance that is produced has various impurities in it such as remaining wastewater, soaps, salts, esters, and catalysts. It is converted/purified into valuable products during the manufacturing process of biodiesel. Glycerol is manufactured by the hydrolysis of fats and natural oils from animals and plants. The synthesis of the product in yeasts and other organisms takes place through dephosphorylation of glycerol 3 phosphates.
The prices of raw materials play a crucial role in the market for glycerol. Other costs that come into play apart from those of raw materials include pre-operational costs, capital investments, and working capital. Also, pre-operating costs include installation, setup, capitalized interests, project engineering and management, and commissioning costs. Increasing prices of fossil fuels have led to a rise in the prices of biodiesel, thus triggering the prices at a global level.
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Glycerol Market Segmentation
Grand View Research has segmented the global glycerol market on the basis of source, type, end-use, and region:
- Glycerol Source Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Fatty Alcohols
- Fatty Acids
- Glycerol Type Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Glycerol End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- Food & Beverage
- Personal Care & Cosmetics
- Glycerol Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- North America
- Asia Pacific
- South America
- Middle East & Africa
Key Companies profiled:
Some prominent players in the global Glycerol market include
- Cargill Incorporated
- BASF SE
- Procter & Gamble Chemicals
- Oleon NV
- KLK OLEO
- Dow Chemical Company
- Wilmar International Ltd
- Pacific Oleochemicals Sdn Bhd
- Kao Corporation
- Emery Oleochemicals
- United Coconut Chemicals, Inc.
- Godrej Industries Limited
- Monarch Chemicals Limited
- Aemetis Inc.
- CREMER OLEO GmbH & Co. KG
- Sakamoto Yakuhin Kogyo Co., Ltd.
- Fine Chemicals & Scientific Co.
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