USD 3.3 billion
Report ID: SQSG15A2018 | Region: Global | Published Date: December, 2022 | Pages: 165
Global Glycerine Market size was valued at USD 3.3 billion in 2021, and it is expected to reach a value of USD 5.13 billion by 2028, at a CAGR of 5.3% over the forecast period (2022-2028).
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%.
Global Market Size
USD 3.3 billion
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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 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.
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.
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.
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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.
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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
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.
|Market size value in 2021||USD 3.3 billion|
|Market size value in 2028||USD 5.13 billion|
|Forecast Unit (Value)||USD Billion|
|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)|
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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.
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Product ID: SQSG15A2018