A recent report published by Infinium Global Research on glycerol market provides in-depth analysis of segments and sub-segments in the global as well as regional glycerol market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional glycerol market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global glycerol market. According to the report, the global glycerol market is projected to grow at a CAGR of 7.5 to 8% over the forecast period of 2018-2024.
Glycerol is colorless, odorless, viscous, and non-toxic alcohol. It is most commonly known as glycerin. It is generally obtained from plant and animal sources. It is a material of outstanding utility with many areas of application such as food, chemical, pharmaceutical, and cosmetic industries. It is mainly used in the production of value-added chemical products. The valuable emollient and demulcent properties of glycerol makes it an important ingredient in innumerable pharmaceutical and cosmetic preparations.
Glycerol finds application among a broad diversity of end uses. The growing demand for glycerol from the end use industries is the primary factor for the growth of the glycerol market. The chemical industry uses glycerol in the manufacture of antifreeze and sealing compounds. Glycerol is used in the pharmaceutical industry to extract and prevent inert materials from precipitating upon standing. It is used as a moistening agent for baked goods and is also added to candies and icings to prevent crystallization. Glycerol is used as a solvent for food colors and carrier for extracts and flavoring agents.
The growing demand for cosmetic products containing glycerin owing to the growing awareness about its several beauty benefits boosts the growth of the glycerol market. It is widely used in a variety of personal care products, including toothpaste, hair conditioner, cosmetics, and moisturizers. Glycerol provides smoothness in lotions, creams, and toothpaste. Furthermore, the increasing demand for environment-friendly products and favorable government regulations contributes to the growth of the glycerol market. However, the availability of alternatives such as ceramides, diethylene glycol, and sorbitol among others and deficit in the availability of raw materials due to the demand from other industries hampers the growth of the glycerol market. Moreover, the use of glycerol as a sweetener in foods marketed to diabetics, low-carb dieters’ change in food habits of people, and escalation in the incidences of lifestyle diseases such as diabetes has fueled the growth of glycerol market. Additionally, the surge in the production of biofuels generates fruitful opportunities for the growth of the glycerol market.
The nature of the glycerol market is highly fragmented. Geographically, Europe is the largest region in terms of the total addressable market size of the glycerol market. The growth of the personal care industry and the presence of well-established cosmetic manufacturers in Europe drives the growth of the glycerol market in this region. North America holds the second largest market share in the global glycerol market due to the large-scale consumption of glycerol as a raw material from several end users such as food and pharmaceutical industries boost the market growth in this region. The Asia Pacific is set to grow with a significant rate in the glycerol market owing to the increasing industrialization and growth of the chemical sector in this region.
The report on global glycerol market covers segments such as production source, and application. On the basis of production source, the sub-markets include biodiesel, fatty alcohols, and fatty acids. On the basis of application, the sub-markets include personal care, pharmaceuticals, food & beverages, chemicals, and others.
The report provides profiles of the companies in the market such as Solvay SA, Wilmar International Ltd, Kuala Lumpur Kepong Berhad, Procter & Gamble Chemicals, Godrej Industries Ltd., Archer Daniels Midland Company, Vitusa Products, Inc., Peter Cremer Holding GmbH & Co. KG, Kashima Chemical Co. Ltd., and Sakamoto Yakuhin kogyo Co., Ltd.
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