Glycerine Market: Global Industry Analysis and Forecast (2023-2029)

Glycerine Market was valued at US$ 2.94 Bn. in 2022. The Glycerine Market size is expected to grow at a CAGR of 7% through the forecast period.
Glycerine Market Overview:
Pharmaceutical glycerine is an organic substance also known as glycerol and glycerin that is primarily utilized as an excipient in the pharmaceutical business. Glycerine has a number of advantages in pharmaceutical and medical treatments, including enhancing lubrication, humectant, and smoothness. It is most frequently used in the creation of expectorants, cough syrups, elixirs, and suppositories. The demand for glycerin has grown since it is utilized in the production of hand sanitizers, soaps, hand washes, and detergents. Sanitizers are recommended as a reliable product to stop the global spread of the coronavirus.To know about the Research Methodology:-Request Free Sample Report
Glycerine Market Dynamics:
Market Drivers:

Increasing Production in Pharmaceutical Industry: People are spending more on necessities connected to their health, and the global healthcare scene is evolving quickly. In turn, this has resulted in high consumption of pharmaceutical components and raw materials. As people become more health-conscious and the population ages, there is a raising need for medicines worldwide. Therefore, it is expected that throughout the forecast period, demand for raw materials such as glycerine would rise as a result of the increase in the manufacture of pharmaceutical goods. The food and beverage, medicines and healthcare, and personal care businesses all require pharmaceutical-grade glycerine. The pharmaceutical-grade glycerine market is expected to be driven by growing applications in these sectors.

Increasing Demand for Fast Food: The demand for fast food and convenience meals is rising as lifestyles and eating habits change in both emerging and developed nations. More than 30% of Americans prefer easily available fast food to traditional meals, according to research released by the U.S. Department of Agriculture in 2018. As a result, it is expected that the increased demand for fast food items throughout the world would increase the need for chemicals like glycerine, which can be used as sweeteners, solvents, or preservatives.

High Application in various Industries: In 2022, the glycerine market saw the highest value growth in industrial application. This application's broad-spectrum, which also covers wood conditioning, paper making, and rubber production, as well as other industries (personal care, pharmaceutical, culinary, alkyd resins, and automotive), is expected to increase demand for glycerine. It is expected that the usage of glycerine in the production of chemical intermediates would increase as a result of its growing use as a platform chemical in the production of a variety of other chemicals, including epichlorohydrin, 1,3 propanediol, propylene glycol, and glycol replacements. Manufacturing facilities for chemical intermediates are being developed primarily in Southeast Asia and China.

Increasing Demand from the Healthcare Sector: The market is increasing due to the rising use of glycerine in the treatment of disorders that cause high eye pressure, such as glaucoma, and during eye surgery. The need for glycerine has also increased in sectors including chemical production, medicines, home care, and other specialized uses alongside other oleo chemicals such as fatty alcohols, fatty acids, and esters. The market is also expected to be driven by the rising usage of glycerine as an alcohol alternative in the manufacturing of herbal and botanical tinctures. Glycerine is also becoming more widely used in the pharmaceutical business due to its low cost and a number of medicinal advantages, including its use as a moisturizer for mild skin irritations and burns as well as in the treatment of constipation. Additionally, it has osmotic diuretic effects that promote the management of cerebral edema, lower intraocular pressure, and lower cerebrospinal pressure.

Market Restraints:

High Cost of Raw Material: The cost of raw materials is quite important in the glycerol industry. Pre-operational expenses, capital expenditures, and working capital are other costs that are involved besides those for raw materials. Installation, setup, capitalized interests, project engineering and management, and commissioning costs are all included in pre-operating expenses. The cost of biodiesel has increased as a result of rising fossil fuel prices, which has affected pricing globally.
Glycerine Market Segment Analysis:
Based on Type, the Glycerine Market is segmented into Crude and Refined. In 2022, the refined segment had a commanding 75.0 % sales share in the global glycerol market. The glycerine that has been refined has a high boiling point and is colorless, odorless, water-soluble, and viscous. This is due to its moisturizing and emulsifying properties, which make it a useful addition to a variety of personal care and home care products. These elements are expected to increase the product's demand in the upcoming years. Through regulated hydrolysis, transesterification, and saponification procedures, refined glycerol is produced. It comes from a variety of vegetable oils. The viability of further processing crude glycerol depends on the economics and accessibility of manufacturing facilities in a given area.

In the expected years, the crude category is expected to see a CAGR of 5.9 %. Because it mostly comprises contaminants such as free fatty acids and methanol, crude glycerol is a less popular commodity on the glycerol market. Over the expected years, the market growth is expected to be favorably impacted by the increased demand for crude glycerol in personal care and nutraceuticals applications.Based on the End User, the Glycerine Market is segmented into Food & Beverage, Pharmaceutical, Nutraceutical, Personal Care & Cosmetics, and Others. With a 40.8 % revenue share in 2022, the personal care and cosmetics sector led the glycerol market. This is linked to a growth in demand for pharmaceutical and personal care goods as a result of improved lifestyles and rising health consciousness among people in developing nations around the Asia Pacific and Latin America. A humectant, lubricant, and smoothness enhancer, glycerol is employed in a variety of applications. In addition to soaps and water-based personal lubricants, they may be found in skincare, shaving cream, hair care, and skincare products.

During the forecast period, the pharmaceutical segment is expected to see the highest CAGR. The product’s beneficial nutritional value and therapeutic characteristics is explained by its use in medicines. In addition, it can be found in a variety of products, including mouthwash, expectorants, elixirs, cough syrups, and allergy immunotherapy. In the upcoming years, the demand for the product is expected to increase significantly as a result of the increased need for glycerol for a variety of medicinal applications.
Glycerine Market Regional Insights:
The Asia Pacific region dominated the market with a 36.5% share in 2022. The Asia Pacific region is expected to witness significant growth at a CAGR of 4% through the forecast period. The increasing number of working women in the area, changing lifestyle trends, and greater convenience food consumption are all blamed for this. Due to increasing demand from end-use industries and limited supply due to a lack of essential feedstock chemicals, glycerol prices in the Asia Pacific region double in the first half of 2022. Due to the scarcity of feedstock, the amount of glycerine produced in Indonesia decreased.

With almost 30.5% of the sales share, Europe was the second-largest regional market in 2022. This is attributable to significant expenditures made by key companies in the cosmetics sector, rising consumer spending, and the introduction of novel and cutting-edge goods in the personal care market.

The objective of the report is to present a comprehensive analysis of the global Glycerine Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Glycerine Market dynamic, structure by analyzing the market segments and projecting the Glycerine Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Glycerine Market make the report investor’s guide.
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Glycerine Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 2.94 Bn.


Forecast Period 2023 to 2029 CAGR:
7%
Market Size in 2029:
US$ 4.73 Bn.


 Segments Covered:
by Type
Crude
Refined


by Source
Biodiesel
Fatty Alcohols
Fatty Acids
Soap


by End-User
Food & Beverage
Pharmaceutical
Nutraceutical
Personal Care & Cosmetics
Industrial
Others



Glycerine Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Glycerine Market Key Players are:
1. DuPont
2. cargill
3. Universal Preserv A Chem Inc.
4. TCC Glycerin
5. Procter and Gamble Co
6. Godrej Group
7. Emery Oleochemicals Group
8. Archer Daniels Midland Company
9. Renewable Energy Group, Inc.
10.Reagents Company
11.richer Daniels Midland Company
12.Biodex-SA
13.IOI Corporation Berhad
14.Kao Corporation
15.Oleon NV
16.P&G Chemicals
17.Aemetis
18.Vance Group Ltd
19.Dow
20.RB FUELS

Frequently Asked Questions:

1] What segments are covered in the Global Glycerine Market report?
Ans. The segments covered in the Glycerine Market report are based on Type, Source, and End User.

2] Which region is expected to hold the highest share in the Global Glycerine Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Glycerine Market.

3] What is the market size of the Global Glycerine Market by 2029?
Ans. The market size of the Glycerine Market by 2029 is expected to reach US$ 4.73 Bn.

4] What is the forecast period for the Global Glycerine Market?
Ans. The forecast period for the Glycerine Market is 2023-2029.

5] What was the market size of the Global Glycerine Market in 2022?
Ans. The market size of the Glycerine Market in 2022 was valued at US$ 2.94 Bn.