Global glycerine market

Global Glycerine Market Size, Share, Growth Analysis, By Application(Personal Care, Food & Beverages), By Grade(USP Grade and Technical Grade), By Manufacturing Process(Transesterification, Saponification), By Source(Vegetable Oils, Bio-diesel) - Industry Forecast 2023-2030


Report ID: SQMIG15A2295 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 121 | Figures: 77

Global Glycerine Market Insights

Glycerine Market size was valued at USD 2.33 billion in 2021 and is poised to grow from USD 2.45 billion in 2022 to USD 3.67 billion by 2030, growing at a CAGR of 5.34% in the forecast period (2023-2030).

The main uses of glycerin are in medicine, personal care products, and cosmetics. The beauty business has been impacted by the COVID-19 outbreak. Sales, purchases, and usage have decreased across several cosmetic areas as a result of months of lockdowns, international travel restrictions, and retail shop closures. However, due to its increased use in hand sanitizers, soaps, handwash, and detergents, the demand for glycerin has surged in end-user sectors including pharmaceutical and personal care during the pandemic.

The significant demand from the pharmaceutical business is probably one of the main aspects that will propel the glycerine market expansion shortly. On the other hand, the majority of producers of refined glycerin are choosing to employ alternative glycerin substitutes in a variety of end-user sectors, which is anticipated to have an impact on the market's expansion. Diethylene glycol, ceramides, oils, and butter are a few alternatives.

Glycerine is currently produced in the world at a rate of 2.9 million tonnes annually, according to estimates. This estimate accounts for all potential sources. Around 810,000 tonnes of glycerin were produced from vegetable oils in Europe, while another 150,000 tonnes came through the manufacturing of UCOME and waste fatty acid biodiesel. In addition, the production of biodiesel from animal fats in categories 1 and 2 should yield an additional 45,000 MT. However, glycerol produced through the manufacturing of biodiesel from waste can only be utilised for technical applications; it cannot be refined to USB grade, only to technical grade. The refined glycerine market is thought to be 2 million metric tonnes in size, but it is expanding quickly due to the growth of the pharmaceutical and personal care industries.

Europe and South-East Asia account for more than 55% of the global demand for crude glycerine. Asia is the largest producer and user of refined glycerine, using around 35% of the global supply, whereas Europe is the largest buyer of crude glycerine. Europe consumes 28% of the refined glycerine produced globally each year, while North America uses about 19%.

US Glycerine Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2023-2030

Global Market Size

USD 2.33 billion

Largest Segment

USP Grade

Fastest Growth

USP Grade

Growth Rate

5.34% CAGR

Global Glycerine Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Global Glycerine Market Size By Grade, 2021-2028 ($ Bn)
Global Glycerine Market Size By Grade, 2021-2028 (%)

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Global Glycerine Market Segmental Analysis

The global glycerine market has been segmented based on application, grade, manufacturing process, source,, and region. Based on application, the market is segmented into personal care, food & beverages, pharmaceuticals, polyether polyols, chemical intermediates, tobacco, and others. Based on manufacturing process, the market is segmented into transesterification, saponification, fat splitting, and others. Based on source, the Glycerine Market  is segmented into vegetable oils, bio-diesel, synthetic, and others. Based on the grade, the market is segmented into USP grades and technical grades. Based on region, the glycerine market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Glycerine Market Analysis by Application

The personal care segment dominated the global market. Glycerine is frequently used in the production of cosmetics, hair care, toothpaste, shaving cream, and soaps. It provides smoothness and lubrication to personal care products. Other qualities, such as humectant nature, the capacity to lower viscosity, and conditioning, are crucial in the field of cosmetics. Glycerol was the third most often used ingredient in cosmetics, according to the U.S. Food and Drug Administration's Voluntary Cosmetic Registration Program. About 23,366 goods, including those for skin care, baby care, eye care, and other personal care, contained the ingredient. After the personal care segment, the food and beverage segment holds a significant market share globally. The market for food and beverages is predicted to rise as processed food and veggies become more popular. During the forecast period, the medicines segment is anticipated to experience a double-digit CAGR. In the long term, it is anticipated that the segments of tobacco, chemical intermediates, and polyether polyols will expand more slowly than other segments. The rapid expansion of this market segment is anticipated to be hampered in the near future by strict rules imposed on cigarette use.

Glycerine Market Analysis by Grade

The technical grade segment dominated the global market. Polyether polyols, alkyd resins, epichlorohydrin, and other chemical compounds are produced using technical grade glycerol. It is a refined form of crude glycerine that has had the majority of the impurities totally eliminated. The United States Pharmacopeia grade is another name for USP grade. This grade is a pure variety of glycerine used primarily in cosmetic, food, and pharmaceutical goods. The US Food and Drug Administration's regulations must be met for a product to be designated as USP grade. Due to its great purity, USP grade costs more than industrial grades. As a result, the market segment maintained a large revenue share.

Global Glycerine Market By Grade, 2021(%), 2021 (%)

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Global Glycerine Market Regional Insights

In 2021, Asia-Pacific region is anticipated to hold the largest market share of the global glycerine market. This expansion is linked to the region's expanding consumer interest in color cosmetics as well as the region's ongoing need for oral goods, cosmetics, and hair care products. Additionally, glycerine usage is rising quickly in nations like China, India, and South Korea. Asia-Pacific glycerine demand is anticipated to be driven by lower production and labor costs, relaxed regulations, and manufacturers' incentives to expand their businesses in these regions.

The world's largest producer of glycerol and biodiesel, however, is Europe. Growth would be accelerated by the increased biodiesel output fuelled by the rising demand from numerous European nations. Additionally, the U.S. chemical and personal care industries' high need for glycerine will fuel expansion in North America.

Global Glycerine Market By Geography, 2021 - 2028, 2023-2030
  • Largest
  • Fastest

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Global Glycerine Market Dynamics

Glycerine Market Driver

  • Consumers prefer natural cosmetics and personal care products as they become more aware of the negative consequences of chemical chemicals. To address the rising demand, major global cosmetic producers including Johnson & Johnson, Unilever, P&G, L'Oréal, and others are heavily incorporating natural ingredients like glycerol. The item works wonders as a humectant and excellent moisturizer in cosmetics and personal care products. Additionally, it is non-toxic, water-soluble, and environmentally friendly. Additionally, it serves as a viscosity reducer, oral care and hair conditioning agent, and scent element. Consequently, more glycerine usage is anticipated during the projection period due to the rising demand for cosmetics.

Glycerine Market Restraint

  • Biodiesel output is unclear in the majority of the major producing nations as a result of shifting demand trends. Variations in production would affect the downstream costs of glycerine, which is a crucial byproduct of the biodiesel synthesis process. Refiners are having difficulties with production and sales profit margins as a result of price changes. These elements are having an impact on the glycerine market expansion. However, it is anticipated that prices will stabilize within a specific price range due to ongoing technical developments. In the foreseeable future, it's anticipated that this restraint's effect will lessen.

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Global Glycerine Market Competitive Landscape

Numerous well-known producers are present on the market, and they are mostly concentrating on increasing their production capacity to meet the rising demand. To meet the rising demand brought on by the COVID-19 pandemic, some others are employing glycerine in the production of hand sanitizers.

As a result of the rising demand for glycerol, producers are concentrating on growing

Product innovation and production capabilities. For instance, a large producer, Emery Oleochemicals, has recently made significant investments in Malaysia's manufacturing facilities. The organization is striving to expand its market reach in response to the rising demand across the globe and enhance its distribution system to better serve its customers. Other companies such as Cargill is concentrating on expanding their footprints with additional locations, much like KLK OLEO manufacturing capacity.

Top Players in the Global Glycerine Market

  • Wilmar International
  • IOI Oleochemicals
  • Emery Oleochemicals
  • KLK Oleo
  • Cargill
  • P&G Chemicals
  • Archer Daniels Midland (ADM)
  • BASF SE
  • Dow Chemical
  • Kao Corporation
  • Vantage Specialty Chemicals
  • Godrej Industries
  • Croda International
  • SABIC
  • IOI Corporation Berhad
  • P&G
  • Eastman Chemical Company
  • Avril Group
  • Cremer Oleo GmbH & Co. KG
  • Twin Rivers Technologies

Glycerine Market Recent Development

  • In October 2021, IOI Corporation Berhad announced the construction of a new 110,000 metric ton (MT) per year oleochemical plant in Prai, Penang, with a capital expenditure of MYR 220 million. The new plant is mainly catered for palm and palm kernel-based fatty acids and glycerine, which are the main raw materials for personal care and cosmetic products. The plant construction is accepted to be completed by the second quarter of 2022.
  • In July 2021, ENI and BASF launched a newly joined initiative to produce advanced propanol from glycerin. The technology to be developed involves the conversion of glycerine to propanol

Global Glycerine Key Market Trends

  • The need for alternative bio-based fuels like bio-diesel has surged as a result of rapid industrialization and urbanization. The demand for fuels made from renewable feedstock increased due to limited fossil fuel supplies. Biodiesel is a more environmentally friendly fuel than fossil fuels because it is made from natural resources like animal fats and vegetable oils. It is acquired as a by-product of the production of biodiesel. Consequently, a rise in Glycerol supply is anticipated to rise over the projection period due to the manufacturing of biodiesel. Global biodiesel output, according to the OECD-FAO Agricultural Output Report is anticipated to reach 44 billion liters by the year 2028. Increasing worries about the need for alternatives are increasing due to the depletion of fossil fuels, particularly the demand for driving the manufacture of biodiesel.

Global Glycerine Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.

According to our analysis, by application, personal care dominated the global glycerine market in 2021 and is anticipated to maintain its dominance throughout the forecast period. In 2021, Asia Pacific dominated the global glycerine market owing to the region's ongoing need for oral goods, cosmetics, and hair care products.

Report Metric Details
Market size value in 2021 USD 2.33 billion
Market size value in 2030 USD 3.67 billion
Growth Rate 5.34%
Base year 2021
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Application
    • Personal Care, Food & Beverages, Pharmaceuticals, Polyether Polyols, Chemical Intermediate, Tobacco, and Others.
  • Grade
    • USP Grade and Technical Grade
  • Manufacturing Process
    • Transesterification, Saponification, Fat splitting, Others
  • Source
    • Vegetable Oils, Bio-diesel, Synthetic, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Wilmar International
  • IOI Oleochemicals
  • Emery Oleochemicals
  • KLK Oleo
  • Cargill
  • P&G Chemicals
  • Archer Daniels Midland (ADM)
  • BASF SE
  • Dow Chemical
  • Kao Corporation
  • Vantage Specialty Chemicals
  • Godrej Industries
  • Croda International
  • SABIC
  • IOI Corporation Berhad
  • P&G
  • Eastman Chemical Company
  • Avril Group
  • Cremer Oleo GmbH & Co. KG
  • Twin Rivers Technologies
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Glycerine Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Glycerine Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Glycerine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Glycerine Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Glycerine Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Glycerine Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Glycerine Market size was valued at USD 2.33 billion in 2021 and is poised to grow from USD 2.45 billion in 2022 to USD 3.67 billion by 2030, growing at a CAGR of 5.34% in the forecast period (2023-2030).

Numerous well-known producers are present on the market, and they are mostly concentrating on increasing their production capacity to meet the rising demand. To meet the rising demand brought on by the COVID-19 pandemic, some others are employing glycerine in the production of hand sanitizers. 'Wilmar International', 'IOI Oleochemicals', 'Emery Oleochemicals', 'KLK Oleo', 'Cargill', 'P&G Chemicals', 'Archer Daniels Midland (ADM)', 'BASF SE', 'Dow Chemical', 'Kao Corporation', 'Vantage Specialty Chemicals', 'Godrej Industries', 'Croda International', 'SABIC', 'IOI Corporation Berhad', 'P&G', 'Eastman Chemical Company', 'Avril Group', 'Cremer Oleo GmbH & Co. KG', 'Twin Rivers Technologies'

Consumers prefer natural cosmetics and personal care products as they become more aware of the negative consequences of chemical chemicals. To address the rising demand, major global cosmetic producers including Johnson & Johnson, Unilever, P&G, L'Oréal, and others are heavily incorporating natural ingredients like glycerol. The item works wonders as a humectant and excellent moisturizer in cosmetics and personal care products. Additionally, it is non-toxic, water-soluble, and environmentally friendly. Additionally, it serves as a viscosity reducer, oral care and hair conditioning agent, and scent element. Consequently, more glycerine usage is anticipated during the projection period due to the rising demand for cosmetics.

The need for alternative bio-based fuels like bio-diesel has surged as a result of rapid industrialization and urbanization. The demand for fuels made from renewable feedstock increased due to limited fossil fuel supplies. Biodiesel is a more environmentally friendly fuel than fossil fuels because it is made from natural resources like animal fats and vegetable oils. It is acquired as a by-product of the production of biodiesel. Consequently, a rise in Glycerol supply is anticipated to rise over the projection period due to the manufacturing of biodiesel. Global biodiesel output, according to the OECD-FAO Agricultural Output Report is anticipated to reach 44 billion liters by the year 2028. Increasing worries about the need for alternatives are increasing due to the depletion of fossil fuels, particularly the demand for driving the manufacture of biodiesel.

In 2021, Asia-Pacific region is anticipated to hold the largest market share of the global glycerine market. This expansion is linked to the region's expanding consumer interest in color cosmetics as well as the region's ongoing need for oral goods, cosmetics, and hair care products. Additionally, glycerine usage is rising quickly in nations like China, India, and South Korea. Asia-Pacific glycerine demand is anticipated to be driven by lower production and labor costs, relaxed regulations, and manufacturers' incentives to expand their businesses in these regions.

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Global glycerine market

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