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 2024-2031

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

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
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FAQs

Glycerine Market size was valued at USD 2.33 billion in 2019 and is poised to grow from USD 2.45 billion in 2023 to USD 3.67 billion by 2031, growing at a CAGR of 5.34% in the forecast period (2024-2031).

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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