Selbyville, Delaware, Nov. 13, 2018 (GLOBE NEWSWIRE) --
Glycerol Market share will cross US$5 billion by 2024, according to a forecast growth analysis by Global Market Insights, Inc. Growth in biodiesel production owing to reduce dependence on conventional fuels along with rising importance of lowering emissions to minimize harmful effects on environment will drive glycerol market size. Global biodiesel market was 35 billion gallons in 2016 which has generated approximately 4 billion gallons of crude glycerol. This factor has dropped down product prices leading to increasing demand in certain new applications such as chemical intermediate and animal feed, thus propelling industry growth.
Glycerol is a sugar alcohol which is obtained from natural sources and is nontoxic in nature promoting its usage in personal care and cosmetic formulations. It is highly hygroscopic in nature which helps in keeping skin hydrated. In addition is acts as a cleanser, toner and minimizes acne, pimples and bacterial infections. Increasing demand for natural ingredients along with emergence of personalized beauty trends analyzing skin type, will act as major driving factor towards industry growth.
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Glycerol market size from food & beverage application may surpass 950 kilo tons by 2024. Shifting consumer preferences towards sugar free, natural food ingredients and low-calorie food products supported by emerging trends of daily health management routine will favor product demand in food & beverage sector. It acts a naturally occurring sweetener for confectioneries, desserts, and dairy products. Supporting regulatory amendments by FDA which approves GRAS status for glycerin and consider it safe for human consumption will boost market growth.
Availability of substitute including ceramides and diethylene glycol which can act as potential replacements for glycerin may hamper industry profitability. Vegetable oil is essential feed stock for commercial production through biodiesel and fatty acids. Raw material supply deficit owing to application in other industries such as paints & coatings, manufacturing and chemical may affect glycerol market price trend.
Browse key industry insights spread 240 pages with 245 market data tables & 44 figures & charts from the report, “Glycerol Market Size, By Product Type (Crude, Refined, By Source (Biodiesel, Fatty Acids, Fatty Alcohols, Soap Industry), By Application (Personal Care & Pharmaceuticals, Alkyd Resins, Foods & Beverages, Polyether Polyols, Tobacco Humectants), Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Russia, China, India, Japan, South Korea, Malaysia, Thailand, Australia, Brazil, Argentina, South Africa, UAE, Saudi Arabia), Price Trend, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/glycerol-market-size
Refined glycerol market size is poised to surpass USD 4.5 billion by 2024. Technological advancements in glycerin purification techniques which is a cost effective, flexible product and also helps in minimizing energy consumption will favor industry growth. Increasing application range in pharmaceutical, food & beverage, personal and home care industries will have positive impact on product demand.
India glycerol market size from pharmaceutical application may register gains close to 6% by 2024. High investments in research along with evolving regulatory norms has led to development of novel products and ingredients, thus driving pharmaceutical industry which may stimulate industry demand. Glycerin is widely used in ear drops, eyewash solutions, cough syrups and lozenges thus propelling industry growth.
France glycerol market size may witness robust growth with gains over 6% by 2024. Easy availability of glycerin to incorporate in cosmetic formulations will favor regional product demand. It retains the skin natural moisturizing factor which makes its suitable for anti- ageing products. Availability of international brands along with increasing product innovation is estimated to accelerate personal care market growth, which may further boost glycerol demand.
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Global glycerol market share is competitive and slightly fragmented with key industry participants including Wilmar International, BASF, Solvay SA, P&G Chemicals, ADM, DOW Chemicals, and Godrej Industries. Companies are examining novel applications for crude glycerin supported by development of low-cost purification techniques to produce refined product will propel industry growth.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.