Albany NY, United States, May 06, 2022 (GLOBE NEWSWIRE) -- Glycerol carbonate is being increasingly used in the production of different products such as cements, detergents, paints & coatings, fuels, and plastics, owing to several physicochemical properties such as high stability, low toxicity, low inflammability, high boiling point, and good biodegradability. Therefore, rise in demand for these products is prognosticated to propel the global glycerol carbonate market in the upcoming years.
Researchers at Transparency Market Research (TMR) project the global glycerol carbonate market to register growth at a CAGR of 7% during the forecast period between 2020 and 2030.
Players operating in the global glycerol carbonate market are concentrating on the development of environment-friendly and safe solvents. Hence, they are seen increasing cash in-flow in R&D projects. Moreover, major companies in the market are seen boosting their production capabilities in order to cater to the rising product demand globally, specifically from developing and developed nations, notes research report by TMR.
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Biofuel is being increasingly used as a substitute to fossil fuel resources. As a result, many players in the market for glycerol carbonate are focused on gaining efficiency in converting glycerol into valuable products. Companies in the glycerol carbonate market are using different conversion technologies such as etherification, selective oxidation, reduction, and polymerization.
The glycerol carbonate market in Asia Pacific is expected to gain promising expansion opportunities, owing to many factors including increase in the production of surfactant products and polymers across many emerging economies such as India, China, and countries in ASEAN sub-region. China is a leading contributor to the Asia Pacific glycerol carbonate market, as the country has a presence of many key market players.
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Glycerol Carbonate Market: Key Findings
- Glycerol carbonate plays a key role in detergents production due to its different advantages such as advanced hand-feel performance, reduced pH of wash liquor, and solubility of laundry powders. Hence, rise in the consumption of different detergents around the world is boosting the sales in the glycerol carbonate market.
- In the construction industry, glycerol carbonate finds application as a curing agent in cement and concrete. It is known for decreasing dusting and cracking, owing to its ability to stop quick water evaporation. Thus, the expansion of the construction industry is anticipated to fuel profitable prospects in the global glycerol carbonate market during the forecast period.
- Plastic is one of the highest used products across different industries, owing to numerous advantages such as its highly appealing nature, sustainability, and functional properties. Moreover, it is used in place of many materials such as concrete, wood, and metal due to its corrosion-proof, lightweight, and cost-efficient nature. Surge in the use of bio-based materials, including glycerol carbonate for the production of plastics-based products is resulting in high sales prospects in the glycerol carbonate market.
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Glycerol Carbonate Market: Growth Boosters
- Rise in the use of glycerol carbonate as a chemical intermediate during polymer production bolsters market growth
- Expansion of plastics industry is creating promising sales prospects in the glycerol carbonate market
Glycerol Carbonate Market: Key Players
Some of the key players profiled in the report are:
- Eurisotop [Cambridge Isotope Laboratories, Inc. (CIL)]
- Huntsman International LLC
- Inkemia Green Chemicals Inc.
- UBE Industries India Private Ltd.
- Carbone Scientific Co., Ltd.
- TCI Chemicals (India) Pvt. Ltd.
- GLACONCHEMIE GmbH
- Acros Organics B.V.B.A. (Thermo Fisher Scientific Company)
- ANHUI MEISENBAO CHEMICAL CO., LTD.
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Glycerol Carbonate Market Segmentation
Application
- Solvents
- Fuel Additives
- Monomers
- Chemical Intermediates
- Others (including Concrete Mineral)
End Use
- Detergents
- Cements
- Fuels
- Paints & Coatings
- Plastics
- Others (including Cosmetics and Personal Care)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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